Xenon Pharmaceuticals (NASDAQ:XENE) Reaches New 1-Year Low – Should You Sell?

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) reached a new 52-week low during trading on Monday . The stock traded as low as $32.70 and last traded at $33.11, with a volume of 15958 shares traded. The stock had previously closed at $34.26.

Analyst Ratings Changes

Several equities research analysts have weighed in on XENE shares. StockNews.com upgraded shares of Xenon Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday. HC Wainwright restated a “buy” rating and set a $53.00 target price on shares of Xenon Pharmaceuticals in a research note on Monday, February 24th. Deutsche Bank Aktiengesellschaft initiated coverage on Xenon Pharmaceuticals in a research note on Tuesday, February 11th. They issued a “buy” rating and a $67.00 price target for the company. William Blair restated an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Xenon Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.38.

Xenon Pharmaceuticals Stock Performance

The firm’s 50 day simple moving average is $37.45 and its 200 day simple moving average is $39.63. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of -10.87 and a beta of 1.26.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) EPS for the quarter, beating the consensus estimate of ($0.89) by $0.05. As a group, sell-side analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Ian Mortimer sold 22,468 shares of the 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 sale, the chief executive officer now directly owns 31,302 shares of the company’s stock, valued at approximately $1,258,340.40. This represents a 41.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 5.52% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. purchased a new position in shares of Xenon Pharmaceuticals in the 4th quarter valued at about $63,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Xenon Pharmaceuticals by 17.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 191,852 shares of the biopharmaceutical company’s stock valued at $7,521,000 after purchasing an additional 29,169 shares during the period. Woodline Partners LP purchased a new stake in shares of Xenon Pharmaceuticals in the fourth quarter valued at approximately $1,566,000. Vident Advisory LLC acquired a new position in shares of Xenon Pharmaceuticals during the 4th quarter worth approximately $212,000. Finally, Two Sigma Advisers LP lifted its position in shares of Xenon Pharmaceuticals by 9.1% during the 4th quarter. Two Sigma Advisers LP now owns 298,700 shares of the biopharmaceutical company’s stock valued at $11,709,000 after buying an additional 25,000 shares in the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

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.