Xenon Pharmaceuticals (NASDAQ:XENE) Rating Lowered to “Sell” at StockNews.com

Xenon Pharmaceuticals (NASDAQ:XENE) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Sunday.

Several other research firms have also issued reports on XENE. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Xenon Pharmaceuticals in a report on Tuesday, February 11th. They issued a “buy” rating and a $67.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $53.00 price objective on shares of Xenon Pharmaceuticals in a research note on Monday, February 24th. Royal Bank of Canada restated an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. Finally, William Blair reiterated an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $57.38.

Xenon Pharmaceuticals Trading Up 4.2 %

XENE opened at $30.63 on Friday. Xenon Pharmaceuticals has a 1-year low of $27.56 and a 1-year high of $46.00. The firm’s 50 day simple moving average is $36.71 and its two-hundred day simple moving average is $39.35. The company has a market capitalization of $2.34 billion, a PE ratio of -10.86 and a beta of 1.21.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its 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. Equities analysts forecast that Xenon Pharmaceuticals will post -3.1 earnings per share for the current fiscal year.

Insider Transactions at Xenon Pharmaceuticals

In related news, CEO Ian Mortimer sold 16,315 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $40.50, for a total transaction of $660,757.50. Following the completion of the transaction, the chief executive officer now directly owns 31,302 shares of the company’s stock, valued at approximately $1,267,731. This represents a 34.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.52% of the company’s stock.

Institutional Trading of Xenon Pharmaceuticals

Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in Xenon Pharmaceuticals by 1,263.2% during the third quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company’s stock valued at $38,456,000 after purchasing an additional 905,129 shares in the last quarter. FMR LLC increased its holdings in shares of Xenon Pharmaceuticals by 8.8% in the 4th quarter. FMR LLC now owns 7,525,290 shares of the biopharmaceutical company’s stock worth $294,991,000 after buying an additional 607,606 shares during the last quarter. Boxer Capital Management LLC purchased a new stake in shares of Xenon Pharmaceuticals during the 4th quarter valued at about $23,520,000. Stempoint Capital LP bought a new position in shares of Xenon Pharmaceuticals in the 4th quarter valued at about $14,733,000. Finally, Janus Henderson Group PLC grew its position in Xenon Pharmaceuticals by 12.3% in the fourth quarter. Janus Henderson Group PLC now owns 2,866,755 shares of the biopharmaceutical company’s stock worth $112,425,000 after acquiring an additional 314,363 shares in the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Company Profile

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.