Xenon Pharmaceuticals (NASDAQ:XENE) Sees Large Volume Increase – What’s Next?

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) shares saw unusually-high trading volume on Wednesday . Approximately 941,071 shares changed hands during trading, an increase of 135% from the previous session’s volume of 400,815 shares.The stock last traded at $31.44 and had previously closed at $30.64.

Analyst Ratings Changes

XENE has been the subject of several analyst reports. William Blair reissued an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft assumed coverage on Xenon Pharmaceuticals in a report on Tuesday, February 11th. They issued a “buy” rating and a $67.00 price target for the company. StockNews.com raised Xenon Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday. HC Wainwright reissued a “buy” rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a report on Monday, February 24th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $57.38.

Xenon Pharmaceuticals Stock Performance

The business has a fifty day simple moving average of $37.45 and a 200 day simple moving average of $39.63. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of -11.16 and a beta of 1.26.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) EPS for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.05. On average, equities research analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current fiscal year.

Insider Buying and Selling at Xenon Pharmaceuticals

In related news, CEO Ian Mortimer sold 22,468 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $40.20, for a total value of $903,213.60. Following the completion of the transaction, the chief executive officer now directly owns 31,302 shares in the company, valued at approximately $1,258,340.40. This represents a 41.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.52% of the stock is currently owned by insiders.

Institutional Trading of Xenon Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in XENE. FMR LLC grew its holdings in Xenon Pharmaceuticals by 8.8% in the fourth quarter. FMR LLC now owns 7,525,290 shares of the biopharmaceutical company’s stock valued at $294,991,000 after purchasing an additional 607,606 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Xenon Pharmaceuticals by 0.4% in the 3rd quarter. Wellington Management Group LLP now owns 3,843,447 shares of the biopharmaceutical company’s stock valued at $151,317,000 after purchasing an additional 15,226 shares during the last quarter. Braidwell LP grew its stake in shares of Xenon Pharmaceuticals by 7.6% during the 4th quarter. Braidwell LP now owns 2,913,964 shares of the biopharmaceutical company’s stock valued at $114,227,000 after buying an additional 206,709 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Xenon Pharmaceuticals by 12.3% during the 4th quarter. Janus Henderson Group PLC now owns 2,866,755 shares of the biopharmaceutical company’s stock worth $112,425,000 after buying an additional 314,363 shares during the last quarter. Finally, Polar Capital Holdings Plc raised its position in shares of Xenon Pharmaceuticals by 10.3% in the 4th quarter. Polar Capital Holdings Plc now owns 2,697,657 shares of the biopharmaceutical company’s stock worth $105,748,000 after buying an additional 253,012 shares during the period. 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.