Xenon Pharmaceuticals (NASDAQ:XENE) Rating Lowered to “Sell” at StockNews.com

Xenon Pharmaceuticals (NASDAQ:XENE) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

A number of other analysts also recently issued reports on XENE. Royal Bank of Canada reissued an “outperform” rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. William Blair restated an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. HC Wainwright reissued a “buy” rating and issued a $53.00 price objective on shares of Xenon Pharmaceuticals in a research report on Monday, February 24th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Xenon Pharmaceuticals in a research note on Tuesday, February 11th. They issued a “buy” rating and a $67.00 target price for the company. One equities research analyst has rated the stock with a sell rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.78.

Xenon Pharmaceuticals Price Performance

Shares of XENE stock opened at $35.14 on Wednesday. Xenon Pharmaceuticals has a 1-year low of $26.74 and a 1-year high of $46.00. The firm’s 50-day simple moving average is $35.08 and its 200-day simple moving average is $38.84. The firm has a market cap of $2.69 billion, a P/E ratio of -12.46 and a beta of 1.21.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.84) EPS for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.05. Analysts expect that Xenon Pharmaceuticals will post -3.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Ian Mortimer sold 22,468 shares of Xenon Pharmaceuticals stock in a transaction on Friday, January 24th. The shares were 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 owns 31,302 shares in the company, valued at approximately $1,258,340.40. The trade was a 41.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.52% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Occudo Quantitative Strategies LP lifted its position in shares of Xenon Pharmaceuticals by 5.8% during the fourth quarter. Occudo Quantitative Strategies LP now owns 11,441 shares of the biopharmaceutical company’s stock worth $448,000 after purchasing an additional 630 shares during the last quarter. Geode Capital Management LLC raised its stake in Xenon Pharmaceuticals by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 69,529 shares of the biopharmaceutical company’s stock valued at $2,726,000 after buying an additional 720 shares in the last quarter. KBC Group NV lifted its holdings in Xenon Pharmaceuticals by 39.8% during the 4th quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 780 shares during the last quarter. HighMark Wealth Management LLC grew its position in shares of Xenon Pharmaceuticals by 22.0% in the 4th quarter. HighMark Wealth Management LLC now owns 6,100 shares of the biopharmaceutical company’s stock worth $239,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Swiss National Bank increased its holdings in shares of Xenon Pharmaceuticals by 1.0% in the 4th quarter. Swiss National Bank now owns 126,600 shares of the biopharmaceutical company’s stock valued at $4,963,000 after acquiring an additional 1,300 shares during the last quarter. 95.45% of the stock is owned by institutional investors and hedge funds.

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.