Xenon Pharmaceuticals (NASDAQ:XENE) Sets New 1-Year Low – Here’s Why

Xenon Pharmaceuticals Inc. (NASDAQ:XENE)’s share price reached a new 52-week low during mid-day trading on Friday . The company 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.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price target on shares of Xenon Pharmaceuticals in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating and a $67.00 target price for the company. HC Wainwright restated a “buy” rating and issued a $53.00 price target on shares of Xenon Pharmaceuticals in a research report on Monday. Finally, William Blair reaffirmed an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Friday. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $57.38.

Xenon Pharmaceuticals Trading Down 3.4 %

The firm’s fifty day moving average price is $39.30 and its 200-day moving average price is $40.32. The company has a market cap of $2.82 billion, a price-to-earnings ratio of -13.13 and a beta of 1.20.

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

Insider Activity at Xenon Pharmaceuticals

In other news, CFO Sherry Aulin sold 18,709 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $41.21, for a total value of $770,997.89. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ian Mortimer sold 16,315 shares of the company’s stock in a transaction dated Monday, January 27th. The stock was 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 of the company’s stock, valued at $1,267,731. This represents a 34.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 57,492 shares of company stock worth $2,334,969. 5.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On Xenon Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC boosted its position in Xenon Pharmaceuticals by 8.8% during the 4th quarter. FMR LLC now owns 7,525,290 shares of the biopharmaceutical company’s stock worth $294,991,000 after acquiring an additional 607,606 shares during the last quarter. Wellington Management Group LLP lifted its position 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 worth $151,317,000 after purchasing an additional 15,226 shares in the last quarter. Braidwell LP boosted its holdings in Xenon Pharmaceuticals by 7.6% during the fourth 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 grew its position in Xenon Pharmaceuticals by 12.3% in the fourth quarter. Janus Henderson Group PLC now owns 2,866,755 shares of the biopharmaceutical company’s stock valued at $112,425,000 after purchasing an additional 314,363 shares in the last quarter. Finally, Polar Capital Holdings Plc increased its stake in Xenon Pharmaceuticals by 10.3% in the 4th quarter. Polar Capital Holdings Plc now owns 2,697,657 shares of the biopharmaceutical company’s stock valued at $105,748,000 after buying an additional 253,012 shares during the last quarter. 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.