Xenon Pharmaceuticals Inc. (NASDAQ:XENE – Get Free Report)’s stock price traded up 7.8% during trading on Wednesday . The company traded as high as $67.16 and last traded at $68.2840. 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.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the stock. Wedbush decreased their price objective on shares of Xenon Pharmaceuticals from $64.00 to $63.00 and set an “outperform” rating on the stock in a research report on Monday, March 16th. Royal Bank Of Canada increased their target price on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. HC Wainwright raised their target price on Xenon Pharmaceuticals from $53.00 to $74.00 and gave the stock a “buy” rating in a research note on Tuesday, March 10th. JPMorgan Chase & Co. boosted their price target on Xenon Pharmaceuticals from $80.00 to $82.00 and gave the company an “overweight” rating in a report on Wednesday, May 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $77.20.
Read Our Latest Analysis on Xenon Pharmaceuticals
Xenon Pharmaceuticals Stock Performance
Xenon Pharmaceuticals (NASDAQ:XENE – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.17) earnings per share for the quarter, meeting the consensus estimate of ($1.17). During the same period in the prior year, the business earned ($0.83) EPS. As a group, research analysts forecast that Xenon Pharmaceuticals Inc. will post -4.92 earnings per share for the current fiscal year.
Insider Transactions at Xenon Pharmaceuticals
In other Xenon Pharmaceuticals news, Director Gary Patou sold 1,322 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $53.14, for a total value of $70,251.08. Following the sale, the director owned 24,896 shares in the company, valued at approximately $1,322,973.44. This represents a 5.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gillian Cannon sold 1,190 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $53.14, for a total value of $63,236.60. Following the completion of the sale, the director directly owned 1,455 shares in the company, valued at approximately $77,318.70. This represents a 44.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 4.07% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its holdings in Xenon Pharmaceuticals by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,399,033 shares of the biopharmaceutical company’s stock valued at $56,171,000 after buying an additional 142,452 shares in the last quarter. HighVista Strategies LLC grew its position in Xenon Pharmaceuticals by 80.2% in the third quarter. HighVista Strategies LLC now owns 82,190 shares of the biopharmaceutical company’s stock worth $3,300,000 after acquiring an additional 36,570 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Xenon Pharmaceuticals in the fourth quarter worth about $5,342,000. Peregrine Capital Management LLC purchased a new stake in shares of Xenon Pharmaceuticals in the fourth quarter valued at $7,837,000. Finally, Jain Global LLC purchased a new position in shares of Xenon Pharmaceuticals during the third quarter valued at approximately $10,133,000. Institutional investors own 95.45% of the company’s stock.
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.
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