Xenon Pharmaceuticals (NASDAQ:XENE) Shares Up 7.8% – Should You Buy?

Xenon Pharmaceuticals Inc. (NASDAQ:XENE)’s stock price traded up 7.8% during mid-day trading on Wednesday . The company traded as high as $67.16 and last traded at $68.2840. Approximately 1,630,621 shares changed hands during trading, an increase of 20% from the average session volume of 1,355,927 shares. The stock had previously closed at $63.37.

Wall Street Analysts Forecast Growth

XENE has been the topic of several research reports. Wells Fargo & Company restated an “overweight” rating and issued a $69.00 price target on shares of Xenon Pharmaceuticals in a report on Sunday, May 10th. JPMorgan Chase & Co. increased their price objective on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 27th. Needham & Company LLC cut their target price on shares of Xenon Pharmaceuticals from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a report on Monday. Finally, Wedbush decreased their price target on shares of Xenon Pharmaceuticals from $64.00 to $63.00 and set an “outperform” rating for the company in a research report on Monday, March 16th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $77.20.

Xenon Pharmaceuticals Stock Down 2.8%

The firm’s 50 day moving average price is $55.92 and its two-hundred day moving average price is $50.95. The firm has a market capitalization of $6.67 billion, a PE ratio of -14.72 and a beta of 0.61.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.17) EPS for the quarter, hitting analysts’ consensus estimates of ($1.17). During the same quarter last year, the business posted ($0.83) earnings per share. On average, sell-side analysts anticipate that Xenon Pharmaceuticals Inc. will post -4.92 earnings per share for the current fiscal year.

Insider Activity

In other Xenon Pharmaceuticals news, Director Gary Patou sold 1,322 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $53.14, for a total value of $70,251.08. Following the transaction, the director directly owned 24,896 shares of the company’s stock, valued at $1,322,973.44. This represents a 5.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gillian Cannon sold 1,190 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $53.14, for a total value of $63,236.60. Following the transaction, the director owned 1,455 shares of the company’s stock, valued at approximately $77,318.70. This trade represents a 44.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 4.07% of the company’s stock.

Institutional Trading of Xenon Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in XENE. Holocene Advisors LP bought a new stake in shares of Xenon Pharmaceuticals in the 2nd quarter worth about $56,637,000. Wellington Management Group LLP lifted its position in shares of Xenon Pharmaceuticals by 66.0% during the third quarter. Wellington Management Group LLP now owns 3,609,857 shares of the biopharmaceutical company’s stock worth $144,936,000 after purchasing an additional 1,435,096 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Xenon Pharmaceuticals by 1,968.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 862,300 shares of the biopharmaceutical company’s stock worth $38,650,000 after purchasing an additional 820,608 shares during the last quarter. Vestal Point Capital LP grew its stake in Xenon Pharmaceuticals by 53.8% in the second quarter. Vestal Point Capital LP now owns 2,000,000 shares of the biopharmaceutical company’s stock worth $62,600,000 after purchasing an additional 700,000 shares in the last quarter. Finally, Commodore Capital LP grew its stake in Xenon Pharmaceuticals by 30.1% in the second quarter. Commodore Capital LP now owns 3,025,000 shares of the biopharmaceutical company’s stock worth $94,682,000 after purchasing an additional 700,000 shares in the last quarter. Institutional investors own 95.45% of the company’s stock.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals Inc is a clinical‐stage biopharmaceutical company dedicated to discovering and developing novel, small‐molecule drugs targeting ion channels in the central and peripheral nervous system. The company’s research focus centers on neurological and pain disorders—including epilepsy, migraine, and neuropathic pain—by modulating key ion‐channel proteins to restore normal neuronal function. Xenon’s scientific platform draws upon advances in ion‐channel biology and structure‐based drug design to identify and optimize therapeutic candidates with the potential for improved safety and efficacy profiles compared with existing treatments.

The company’s pipeline comprises multiple preclinical and clinical programs.