By otakuyassine3@gmail.com 
Xenon Pharmaceuticals Inc. (NASDAQ:XENE – Get Free Report) dropped 3.1% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $37.90 and last traded at $38.12. Approximately 18,162 shares changed hands during trading, a decline of 95% from the average daily volume of 386,408 shares. The stock had previously closed at $39.35.
Specifically, CFO Sherry Aulin sold 18,709 shares of Xenon Pharmaceuticals stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $41.21, for a total value of $770,997.89. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Analysts Set New Price Targets
A number of analysts have issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price target on shares of Xenon Pharmaceuticals in a research note on Wednesday, November 13th. Royal Bank of Canada reissued an “outperform” rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd. Raymond James reaffirmed an “outperform” rating and issued a $50.00 target price on shares of Xenon Pharmaceuticals in a report on Thursday, October 10th. HC Wainwright restated a “buy” rating and set a $53.00 target price on shares of Xenon Pharmaceuticals in a report on Thursday, December 12th. Finally, William Blair raised shares of Xenon Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $56.00.
Read Our Latest Analysis on XENE
Xenon Pharmaceuticals Stock Down 0.7 %
The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of -13.70 and a beta of 1.19. The firm has a 50 day moving average price of $41.85 and a two-hundred day moving average price of $40.46.
Xenon Pharmaceuticals (NASDAQ:XENE – Get Free Report) last issued its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.01. During the same quarter last year, the business posted ($0.73) earnings per share. Analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.
Institutional Trading of Xenon Pharmaceuticals
A number of institutional investors and hedge funds have recently made changes to their positions in XENE. Blue Trust Inc. increased its stake in shares of Xenon Pharmaceuticals by 174.7% during the third quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 641 shares during the period. nVerses Capital LLC acquired a new position in shares of Xenon Pharmaceuticals during the 3rd quarter valued at $102,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Xenon Pharmaceuticals by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company’s stock valued at $106,000 after purchasing an additional 487 shares during the period. Quarry LP raised its stake in shares of Xenon Pharmaceuticals by 207.7% in the 2nd quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock worth $156,000 after buying an additional 2,700 shares in the last quarter. Finally, Vestcor Inc bought a new position in Xenon Pharmaceuticals during the third quarter valued at about $327,000. 95.45% of the stock is currently owned by institutional investors and hedge funds.
Xenon Pharmaceuticals Company Profile
Xenon Pharmaceuticals Inc, a neuroscience-focused biopharmaceutical company, engages in the development of therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN1101, a novel and potent Kv7 potassium channel opener, which is in Phase 3 clinical trials for the treatment of epilepsy and other neurological disorders.
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