Insider Selling: Xenon Pharmaceuticals (NASDAQ:XENE) Director Sells $640,600.00 in Stock

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Director Steven Gannon sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $64.06, for a total transaction of $640,600.00. Following the completion of the transaction, the director owned 1,870 shares of the company’s stock, valued at approximately $119,792.20. This trade represents a 84.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Xenon Pharmaceuticals Trading Down 2.9%

Shares of NASDAQ XENE opened at $62.35 on Friday. The stock has a market cap of $6.03 billion, a P/E ratio of -13.15 and a beta of 0.62. The business’s fifty day simple moving average is $61.34 and its 200-day simple moving average is $54.99. Xenon Pharmaceuticals Inc. has a 12-month low of $35.60 and a 12-month high of $72.66.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.11) EPS for the quarter, topping the consensus estimate of ($1.16) by $0.05. During the same period last year, the firm earned ($1.07) EPS. On average, equities analysts forecast that Xenon Pharmaceuticals Inc. will post -4.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Man Group plc purchased a new stake in Xenon Pharmaceuticals during the second quarter worth approximately $18,749,000. Trails Edge Capital Partners LP purchased a new position in Xenon Pharmaceuticals in the second quarter valued at approximately $26,558,400,000. Jupiter Topco LLC purchased a new position in Xenon Pharmaceuticals in the second quarter valued at approximately $252,673,000. ADAR1 Capital Management LLC acquired a new stake in Xenon Pharmaceuticals during the second quarter worth approximately $10,053,000. Finally, Hsbc Holdings PLC acquired a new stake in Xenon Pharmaceuticals during the second quarter worth approximately $9,143,000. Institutional investors and hedge funds own 95.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on XENE. Wall Street Zen upgraded shares of Xenon Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 1st. JPMorgan Chase & Co. lifted their price target on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. HC Wainwright reiterated a “buy” rating and set a $74.00 price target on shares of Xenon Pharmaceuticals in a report on Monday, August 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research report on Monday, July 6th. Finally, Royal Bank Of Canada dropped their price objective on shares of Xenon Pharmaceuticals from $82.00 to $81.00 and set an “outperform” rating on the stock in a research report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $77.13.

About Xenon Pharmaceuticals

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.