Xenon Pharmaceuticals (NASDAQ:XENE) Stock Price Up 5.2% – Here’s What Happened

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) shot up 5.2% during mid-day trading on Monday . The stock traded as high as $30.78 and last traded at $30.94. 420,445 shares were traded during trading, an increase of 3% from the average session volume of 406,696 shares. The stock had previously closed at $29.40.

Wall Street Analyst Weigh In

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

Xenon Pharmaceuticals Trading Up 4.2 %

The firm has a 50-day simple moving average of $36.71 and a two-hundred day simple moving average of $39.35. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of -10.86 and a beta of 1.21.

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

Insider Buying and Selling

In other news, CEO Ian Mortimer sold 22,468 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $40.20, for a total transaction 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 $1,258,340.40. The trade was a 41.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.52% of the company’s stock.

Hedge Funds Weigh In On Xenon Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of XENE. GF Fund Management CO. LTD. acquired a new stake in Xenon Pharmaceuticals in the 4th quarter worth $63,000. Quarry LP acquired a new stake in Xenon Pharmaceuticals during the fourth quarter worth about $78,000. Blue Trust Inc. increased its stake in Xenon Pharmaceuticals by 140.3% during the fourth quarter. Blue Trust Inc. now owns 2,422 shares of the biopharmaceutical company’s stock valued at $95,000 after acquiring an additional 1,414 shares during the period. Avior Wealth Management LLC acquired a new position in Xenon Pharmaceuticals in the 4th quarter valued at approximately $101,000. Finally, KBC Group NV lifted its position in shares of Xenon Pharmaceuticals by 39.8% in the 4th quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company’s stock worth $107,000 after acquiring an additional 780 shares during the period. Institutional investors own 95.45% of the company’s stock.

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.