Xenon Pharmaceuticals Inc. (NASDAQ:XENE) CEO Ian Mortimer Sells 16,315 Shares

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) CEO Ian Mortimer sold 16,315 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $40.50, for a total value of $660,757.50. Following the transaction, the chief executive officer now directly owns 31,302 shares in the company, valued at approximately $1,267,731. This represents a 34.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Friday, January 24th, Ian Mortimer sold 22,468 shares of Xenon Pharmaceuticals stock. The stock was sold at an average price of $40.20, for a total value of $903,213.60.

Xenon Pharmaceuticals Stock Up 0.4 %

Xenon Pharmaceuticals stock traded up $0.16 during mid-day trading on Monday, reaching $40.11. The company had a trading volume of 290,667 shares, compared to its average volume of 383,885. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of -14.22 and a beta of 1.20. The company has a 50 day moving average of $40.20 and a 200-day moving average of $40.82. Xenon Pharmaceuticals Inc. has a 52 week low of $35.53 and a 52 week high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.01. During the same period last year, the company earned ($0.73) EPS. On average, analysts predict that Xenon Pharmaceuticals Inc. will post -3.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

XENE has been the subject of a number of analyst reports. Needham & Company LLC restated a “buy” rating and issued a $60.00 price objective on shares of Xenon Pharmaceuticals in a research note on Wednesday, November 13th. Raymond James reissued an “outperform” rating and set a $50.00 target price on shares of Xenon Pharmaceuticals in a research report on Thursday, October 10th. Finally, HC Wainwright restated a “buy” rating and set a $53.00 price target on shares of Xenon Pharmaceuticals in a report on Thursday, December 12th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $56.00.

Institutional Trading of Xenon Pharmaceuticals

Institutional investors have recently made changes to their positions in the business. FMR LLC grew its holdings in shares of Xenon Pharmaceuticals by 2.2% in the 3rd quarter. FMR LLC now owns 6,917,684 shares of the biopharmaceutical company’s stock worth $272,349,000 after purchasing an additional 149,511 shares during the last quarter. Wellington Management Group LLP grew its stake in Xenon Pharmaceuticals by 0.4% during the third quarter. Wellington Management Group LLP now owns 3,843,447 shares of the biopharmaceutical company’s stock worth $151,317,000 after buying an additional 15,226 shares during the last quarter. Braidwell LP increased its holdings in shares of Xenon Pharmaceuticals by 5.7% during the third quarter. Braidwell LP now owns 2,707,255 shares of the biopharmaceutical company’s stock worth $106,585,000 after buying an additional 146,682 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Xenon Pharmaceuticals by 144.2% in the third quarter. Janus Henderson Group PLC now owns 2,552,392 shares of the biopharmaceutical company’s stock valued at $100,506,000 after acquiring an additional 1,507,135 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Xenon Pharmaceuticals by 1,263.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company’s stock worth $38,456,000 after acquiring an additional 905,129 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

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.