Xenon Pharmaceuticals’ (XENE) “Outperform” Rating Reaffirmed at William Blair

Xenon Pharmaceuticals (NASDAQ:XENE)‘s stock had its “outperform” rating reissued by research analysts at William Blair in a note issued to investors on Friday,RTT News reports.

XENE has been the topic of several other reports. HC Wainwright reissued a “buy” rating and set a $53.00 price target on shares of Xenon Pharmaceuticals in a research report on Monday. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 target price on shares of Xenon Pharmaceuticals in a research report on Wednesday, November 13th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating and a $67.00 price target for the company. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $57.38.

Xenon Pharmaceuticals Stock Performance

NASDAQ XENE traded down $2.07 during trading on Friday, hitting $36.25. The stock had a trading volume of 738,164 shares, compared to its average volume of 424,968. Xenon Pharmaceuticals has a 12 month low of $33.27 and a 12 month high of $50.99. The company’s 50-day moving average price is $39.30 and its two-hundred day moving average price is $40.32. The company has a market capitalization of $2.76 billion, a PE ratio of -12.87 and a beta of 1.20.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.84) EPS for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.05. As a group, equities analysts anticipate that Xenon Pharmaceuticals will post -3.1 earnings per share for the current fiscal year.

Insider Transactions at Xenon Pharmaceuticals

In other Xenon Pharmaceuticals news, CEO Ian Mortimer sold 22,468 shares of Xenon Pharmaceuticals stock in a transaction on Friday, January 24th. The shares were sold at an average price of $40.20, for a total transaction of $903,213.60. Following the completion of the transaction, the chief executive officer now directly owns 31,302 shares of the company’s stock, valued at $1,258,340.40. The trade was a 41.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sherry Aulin sold 18,709 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $41.21, for a total transaction of $770,997.89. The disclosure for this sale can be found here. In the last three months, insiders sold 57,492 shares of company stock worth $2,334,969. 5.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Several hedge funds have recently bought and sold shares of 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 worth $39,000 after purchasing an additional 641 shares during the period. GF Fund Management CO. LTD. acquired a new position in Xenon Pharmaceuticals in the 4th quarter valued at $63,000. Quarry LP acquired a new position in Xenon Pharmaceuticals in the 4th quarter valued at $78,000. Avior Wealth Management LLC bought a new position in Xenon Pharmaceuticals during the 4th quarter worth $101,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Xenon Pharmaceuticals by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company’s stock worth $106,000 after buying an additional 487 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

About Xenon Pharmaceuticals

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.