Xenon Pharmaceuticals (NASDAQ:XENE) Upgraded at StockNews.com

StockNews.com upgraded shares of Xenon Pharmaceuticals (NASDAQ:XENE) from a sell rating to a hold rating in a report released on Saturday.

Other equities research analysts also recently issued reports about the company. William Blair reaffirmed an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft initiated coverage on Xenon Pharmaceuticals in a report on Tuesday, February 11th. They issued a “buy” rating and a $67.00 price target for the company. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. Finally, HC Wainwright restated a “buy” rating and set a $53.00 target price on shares of Xenon Pharmaceuticals in a research report on Monday, February 24th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $57.38.

Xenon Pharmaceuticals Stock Down 2.1 %

XENE opened at $33.55 on Friday. Xenon Pharmaceuticals has a 12-month low of $32.70 and a 12-month high of $46.00. The firm has a market capitalization of $2.57 billion, a P/E ratio of -11.90 and a beta of 1.26. The stock’s 50 day moving average price is $37.62 and its two-hundred day moving average price is $39.70.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share for the quarter, beating the consensus estimate of ($0.89) by $0.05. As a group, analysts anticipate that Xenon Pharmaceuticals will post -3.1 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Ian Mortimer sold 16,315 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $40.50, for a total value 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.52% of the company’s stock.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the company. Occudo Quantitative Strategies LP grew its stake in Xenon Pharmaceuticals by 5.8% in the fourth quarter. Occudo Quantitative Strategies LP now owns 11,441 shares of the biopharmaceutical company’s stock valued at $448,000 after purchasing an additional 630 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Xenon Pharmaceuticals by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 69,529 shares of the biopharmaceutical company’s stock valued at $2,726,000 after purchasing an additional 720 shares during the last quarter. KBC Group NV grew its stake in Xenon Pharmaceuticals by 39.8% in the 4th quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 780 shares during the last quarter. HighVista Strategies LLC grew its position in shares of Xenon Pharmaceuticals by 1.4% in the third quarter. HighVista Strategies LLC now owns 73,762 shares of the biopharmaceutical company’s stock valued at $2,904,000 after purchasing an additional 1,047 shares during the last quarter. Finally, HighMark Wealth Management LLC increased its position in Xenon Pharmaceuticals by 22.0% during the 4th quarter. HighMark Wealth Management LLC now owns 6,100 shares of the biopharmaceutical company’s stock worth $239,000 after buying an additional 1,100 shares during the period. Institutional investors and hedge funds own 95.45% of the company’s stock.

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.