Shares of Xenon Pharmaceuticals Inc. (NASDAQ: XENE – Get a rating) received a consensus “moderate buy” recommendation from the ten rating agencies that currently cover the company, reports Marketbeat Ratings. One financial analyst gave the stock a sell rating and seven issued a buy rating for the company. The 12-month average price target among analysts who have reported on the stock in the past year is $47.43.
A number of research companies have recently published reports on XENE. StockNews.com upgraded Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a Wednesday, September 7 research report. Bank of America began covering Xenon Pharmaceuticals in a research report on Monday, August 29. They set a “buy” rating and a price target of $45.00 for the company. JPMorgan Chase & Co. began covering Xenon Pharmaceuticals in a research report on Thursday, July 21. They set an “overweight” rating and a price target of $55.00 for the company. SVB Leerink raised its price target on Xenon Pharmaceuticals from $40.00 to $46.00 and gave the company an “outperform” rating in a Thursday, August 11 research report. Finally, Wedbush raised its target price on Xenon Pharmaceuticals from $41.00 to $50.00 in a Wednesday, August 10 report.
Stock Xenon Pharmaceuticals down 5.1%
Shares of Xenon Pharmaceuticals opened at $37.31 on Monday. The stock has a market capitalization of $2.32 billion, a PE ratio of -20.39 and a beta of 1.47. The company has a fifty-day simple moving average of $36.25 and a 200-day simple moving average of $32.45. Xenon Pharmaceuticals has a 12-month low of $14.65 and a 12-month high of $41.39.
Xenon Pharmaceuticals (NASDAQ: XENE- Get a rating) last reported results on Tuesday, August 9. The biopharmaceutical company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.06). The company posted revenue of $0.54 million in the quarter, versus analyst estimates of $3.25 million. Xenon Pharmaceuticals had a negative return on equity of 17.33% and a negative net margin of 432.24%. The company’s quarterly revenue was down 75.8% year over year. During the same period last year, the company achieved EPS of ($0.51). Analysts expect Xenon Pharmaceuticals to post EPS of -2.05 for the current fiscal year.
Insider Trading at Xenon Pharmaceuticals
In other news, Executive Vice President James R. Empfield sold 57,743 shares of Xenon Pharmaceuticals in a trade dated Friday, August 12. The stock was sold at an average price of $38.31, for a total value of $2,212,134.33. Following the transaction, the executive vice president now directly owns 10,000 shares of the company, valued at $383,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, available at the SEC website. Separately, Executive Vice President James R. Empfield sold 57,743 shares of Xenon Pharmaceuticals in a trade dated Friday, August 12. The stock was sold at an average price of $38.31, for a total transaction of $2,212,134.33. Following the sale, the executive vice president now directly owns 10,000 shares of the company, valued at $383,100. The transaction was disclosed in a document filed with the SEC, accessible via this link. Also, director Simon N. Pimstone sold 33,942 shares of Xenon Pharmaceuticals in a trade dated Monday, August 15. The stock was sold at an average price of $37.76, for a total value of $1,281,649.92. Following the sale, the administrator now directly owns 58,058 shares of the company, valued at $2,192,270.08. Disclosure of this sale can be found here. In the past ninety days, insiders have sold 182,820 shares of the company worth $6,982,432. Insiders of the company hold 6.06% of the shares of the company.
Institutional investors weigh in on Xenon Pharmaceuticals
A number of institutional investors have recently increased or reduced their stake in the company. BNP Paribas Arbitrage SA increased its stake in Xenon Pharmaceuticals by 1,567.5% during the first quarter. BNP Paribas Arbitrage SA now owns 1,334 shares of the biopharmaceutical company valued at $41,000 after buying an additional 1,254 shares last quarter. Advisors Asset Management Inc. acquired a new stake in Xenon Pharmaceuticals during the first quarter valued at approximately $66,000. UBS Group AG increased its stake in Xenon Pharmaceuticals by 102.1% during the second quarter. UBS Group AG now owns 2,472 shares of the biopharmaceutical company valued at $76,000 after buying an additional 1,249 shares last quarter. JPMorgan Chase & Co. increased its stake in Xenon Pharmaceuticals by 33.4% in the first quarter. JPMorgan Chase & Co. now owns 6,371 shares of the biopharmaceutical company valued at $194,000 after buying 1,596 additional shares last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Xenon Pharmaceuticals during the second quarter valued at approximately $223,000. 91.64% of the shares are held by institutional investors and hedge funds.
About Xenon Pharmaceuticals
Xenon Pharmaceuticals Inc, a clinical-stage biopharmaceutical company, is engaged in the development of therapeutic products to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN496, a Kv7 potassium channel opener which is a Phase III clinical trial for the treatment of KCNQ2 developmental and epileptic encephalopathy; and XEN1101, a Kv7 potassium channel opener, which is in a phase II clinical trial for the treatment of epilepsy and other neurological disorders.
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