Xenon Pharmaceuticals (NASDAQ:XENE) Director Sells $70,251.08 in Stock

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Director Gary Patou sold 1,322 shares of the business’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 transaction of $70,251.08. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Xenon Pharmaceuticals Trading Down 2.7%

NASDAQ XENE opened at $51.34 on Thursday. Xenon Pharmaceuticals Inc. has a 1 year low of $30.00 and a 1 year high of $63.95. The company has a fifty day simple moving average of $55.63 and a 200 day simple moving average of $48.85. The company has a market cap of $4.96 billion, a P/E ratio of -10.92 and a beta of 0.62.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.17) EPS for the quarter, hitting the consensus estimate of ($1.17). During the same quarter in the prior year, the company posted ($0.83) earnings per share. Equities research analysts forecast that Xenon Pharmaceuticals Inc. will post -4.92 EPS for the current fiscal year.

Institutional Trading of Xenon Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the stock. Axiom Investment Management LLC bought a new stake in Xenon Pharmaceuticals in the 1st quarter valued at $58,000. Bank of America Corp DE boosted its holdings in Xenon Pharmaceuticals by 19.8% in the 1st quarter. Bank of America Corp DE now owns 265,267 shares of the biopharmaceutical company’s stock valued at $15,425,000 after purchasing an additional 43,899 shares during the period. Janus Henderson Group PLC boosted its holdings in Xenon Pharmaceuticals by 2.3% in the 1st quarter. Janus Henderson Group PLC now owns 4,175,982 shares of the biopharmaceutical company’s stock valued at $242,858,000 after purchasing an additional 91,948 shares during the period. ADAR1 Capital Management LLC boosted its holdings in Xenon Pharmaceuticals by 12.2% in the 1st quarter. ADAR1 Capital Management LLC now owns 228,899 shares of the biopharmaceutical company’s stock valued at $13,310,000 after purchasing an additional 24,930 shares during the period. Finally, Amundi boosted its holdings in Xenon Pharmaceuticals by 290.8% in the 1st quarter. Amundi now owns 18,013 shares of the biopharmaceutical company’s stock valued at $1,047,000 after purchasing an additional 13,404 shares during the period. 95.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

XENE has been the subject of a number of research analyst reports. Morgan Stanley set a $97.00 target price on shares of Xenon Pharmaceuticals in a research report on Monday, March 9th. Jefferies Financial Group set a $100.00 target price on shares of Xenon Pharmaceuticals in a research report on Monday, March 9th. Needham & Company LLC cut their target price on shares of Xenon Pharmaceuticals from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Robert W. Baird boosted their target price on shares of Xenon Pharmaceuticals from $63.00 to $97.00 and gave the stock an “outperform” rating in a research report on Monday, March 9th. Finally, Bank of America reissued a “buy” rating on shares of Xenon Pharmaceuticals in a research report on Monday, March 9th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $77.20.

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.