Ian Mortimer Sells 22,468 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Stock

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) CEO Ian Mortimer sold 22,468 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $40.20, for a total value of $903,213.60. Following the transaction, the chief executive officer now owns 31,302 shares of the company’s stock, valued at $1,258,340.40. This trade represents a 41.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Ian Mortimer also recently made the following trade(s):

• On Monday, January 27th, Ian Mortimer sold 16,315 shares of Xenon Pharmaceuticals stock. The stock was sold at an average price of $40.50, for a total value of $660,757.50.

Xenon Pharmaceuticals Trading Up 0.4 %

Shares of Xenon Pharmaceuticals stock traded up $0.16 during trading on Monday, hitting $40.11. 290,667 shares of the stock traded hands, compared to its average volume of 383,885. Xenon Pharmaceuticals Inc. has a 52-week low of $35.53 and a 52-week high of $50.99. The stock’s fifty day simple moving average is $40.20 and its 200 day simple moving average is $40.82. The firm has a market cap of $3.06 billion, a P/E ratio of -14.22 and a beta of 1.20.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) EPS for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.01. During the same quarter in the previous year, the company posted ($0.73) EPS. As a group, equities analysts expect that Xenon Pharmaceuticals Inc. will post -3.13 EPS for the current year.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Several institutional investors have recently bought and sold shares of the business. Blue Trust Inc. lifted its holdings in 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 buying an additional 641 shares during the period. Avior Wealth Management LLC bought a new position in shares of Xenon Pharmaceuticals in the 4th quarter worth $101,000. nVerses Capital LLC purchased a new stake in shares of Xenon Pharmaceuticals during the 3rd quarter worth $102,000. Mirae Asset Global Investments Co. Ltd. boosted its position in 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 valued at $106,000 after purchasing an additional 487 shares in the last quarter. Finally, KBC Group NV grew its stake in Xenon Pharmaceuticals by 39.8% in the fourth quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company’s stock valued at $107,000 after purchasing an additional 780 shares during the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on XENE. HC Wainwright reaffirmed a “buy” rating and issued a $53.00 price objective on shares of Xenon Pharmaceuticals in a research report on Thursday, December 12th. Needham & Company LLC restated a “buy” rating and issued a $60.00 price target on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th. Finally, Raymond James reiterated an “outperform” rating and set a $50.00 price objective on shares of Xenon Pharmaceuticals in a report on Thursday, October 10th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $56.00.

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.