Gary Patou Sells 4,891 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Stock

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Director Gary Patou sold 4,891 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $41.08, for a total transaction of $200,922.28. Following the transaction, the director now owns 23,573 shares in the company, valued at $968,378.84. The trade was a 17.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Xenon Pharmaceuticals Trading Up 3.4 %

NASDAQ:XENE opened at $41.15 on Friday. The firm’s fifty day simple moving average is $41.23 and its 200 day simple moving average is $40.23. Xenon Pharmaceuticals Inc. has a twelve month low of $28.20 and a twelve month high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.01. During the same quarter in the prior year, the business posted ($0.73) EPS. On average, analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in XENE. Blue Trust Inc. boosted its position in shares of Xenon Pharmaceuticals by 174.7% during the third quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 641 shares in the last quarter. nVerses Capital LLC purchased a new position in Xenon Pharmaceuticals during the third quarter valued at $102,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Xenon Pharmaceuticals by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company’s stock valued at $106,000 after buying an additional 487 shares in the last quarter. Quarry LP grew its position in shares of Xenon Pharmaceuticals by 207.7% in the 2nd quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock worth $156,000 after buying an additional 2,700 shares during the period. Finally, ProShare Advisors LLC increased its stake in shares of Xenon Pharmaceuticals by 12.0% in the 1st quarter. ProShare Advisors LLC now owns 5,286 shares of the biopharmaceutical company’s stock worth $228,000 after acquiring an additional 565 shares in the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 target price on shares of Xenon Pharmaceuticals in a report on Friday, August 9th. Raymond James reaffirmed an “outperform” rating and set a $50.00 price objective on shares of Xenon Pharmaceuticals in a research note on Thursday, October 10th. Needham & Company LLC reissued a “buy” rating and issued a $60.00 target price on shares of Xenon Pharmaceuticals in a research note on Wednesday, November 13th. William Blair upgraded Xenon Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $53.00 price target on shares of Xenon Pharmaceuticals in a research note on Wednesday, November 13th. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $57.45.

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.