Xenon Pharmaceuticals (NASDAQ:XENE) Reaches New 12-Month Low – Time to Sell?

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) reached a new 52-week low on Friday . The stock traded as low as $33.27 and last traded at $36.51, with a volume of 77945 shares trading hands. The stock had previously closed at $38.31.

Wall Street Analysts Forecast Growth

XENE has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft started coverage on Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating and a $67.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $53.00 price objective on shares of Xenon Pharmaceuticals in a report on Monday. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price target on shares of Xenon Pharmaceuticals in a research note on Wednesday, November 13th. Finally, William Blair restated an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Friday. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $57.38.

Xenon Pharmaceuticals Stock Down 3.4 %

The stock has a market capitalization of $2.82 billion, a P/E ratio of -13.13 and a beta of 1.20. The business has a 50-day simple moving average of $39.30 and a two-hundred day simple moving average of $40.32.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share 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.

Insiders Place Their Bets

In other Xenon Pharmaceuticals news, CFO Sherry Aulin sold 18,709 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $41.21, for a total value of $770,997.89. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ian Mortimer sold 16,315 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $40.50, for a total value of $660,757.50. Following the sale, the chief executive officer now owns 31,302 shares in the company, valued at $1,267,731. The trade was a 34.26 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 57,492 shares of company stock valued at $2,334,969. 5.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in XENE. FMR LLC increased its position in Xenon Pharmaceuticals by 8.8% in the 4th quarter. FMR LLC now owns 7,525,290 shares of the biopharmaceutical company’s stock valued at $294,991,000 after acquiring an additional 607,606 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Xenon Pharmaceuticals by 0.4% in the third quarter. Wellington Management Group LLP now owns 3,843,447 shares of the biopharmaceutical company’s stock valued at $151,317,000 after purchasing an additional 15,226 shares in the last quarter. Braidwell LP raised its position in Xenon Pharmaceuticals by 7.6% in the 4th quarter. Braidwell LP now owns 2,913,964 shares of the biopharmaceutical company’s stock worth $114,227,000 after purchasing an additional 206,709 shares during the last quarter. Janus Henderson Group PLC raised its position in Xenon Pharmaceuticals by 12.3% in the 4th quarter. Janus Henderson Group PLC now owns 2,866,755 shares of the biopharmaceutical company’s stock worth $112,425,000 after purchasing an additional 314,363 shares during the last quarter. Finally, Polar Capital Holdings Plc lifted its holdings in Xenon Pharmaceuticals by 10.3% during the 4th quarter. Polar Capital Holdings Plc now owns 2,697,657 shares of the biopharmaceutical company’s stock worth $105,748,000 after buying an additional 253,012 shares in the last quarter. 95.45% of the stock is owned by 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.