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

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) shares hit a new 52-week low on Monday . The company traded as low as $32.70 and last traded at $33.11, with a volume of 15958 shares trading hands. The stock had previously closed at $34.26.

Analyst Ratings Changes

A number of brokerages have recently weighed in on XENE. HC Wainwright reaffirmed a “buy” rating and issued a $53.00 price objective on shares of Xenon Pharmaceuticals in a research note on Monday, February 24th. William Blair reiterated an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Xenon Pharmaceuticals in a research note on Tuesday, February 11th. They set a “buy” rating and a $67.00 target price for the company. Finally, StockNews.com upgraded shares of Xenon Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $57.38.

Xenon Pharmaceuticals Stock Down 3.9 %

The company has a fifty day simple moving average of $37.72 and a two-hundred day simple moving average of $39.74. The company has a market cap of $2.52 billion, a price-to-earnings ratio of -11.67 and a beta of 1.26.

Xenon Pharmaceuticals (NASDAQ:XENE) last released 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. On average, research analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current year.

Insider Activity

In related news, CEO Ian Mortimer sold 22,468 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $40.20, for a total value of $903,213.60. Following the completion of the sale, the chief executive officer now directly owns 31,302 shares in the company, valued at approximately $1,258,340.40. This represents a 41.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.52% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. FMR LLC boosted its stake in Xenon Pharmaceuticals by 2.2% during the 3rd quarter. FMR LLC now owns 6,917,684 shares of the biopharmaceutical company’s stock valued at $272,349,000 after acquiring an additional 149,511 shares during the last quarter. Walleye Capital LLC acquired a new stake in shares of Xenon Pharmaceuticals during the 3rd quarter worth approximately $4,132,000. Erste Asset Management GmbH bought a new stake in shares of Xenon Pharmaceuticals in the 3rd quarter worth approximately $1,932,000. HighVista Strategies LLC boosted its position in Xenon Pharmaceuticals by 1.4% during the 3rd quarter. HighVista Strategies LLC now owns 73,762 shares of the biopharmaceutical company’s stock valued at $2,904,000 after purchasing an additional 1,047 shares during the period. Finally, Janus Henderson Group PLC grew its stake in Xenon Pharmaceuticals by 144.2% during the 3rd quarter. Janus Henderson Group PLC now owns 2,552,392 shares of the biopharmaceutical company’s stock worth $100,506,000 after buying an additional 1,507,135 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.