Xenon Pharmaceuticals (NASDAQ:XENE) CFO Thomas Patrick Kelly Purchases 15,000 Shares of Company Stock

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) CFO Thomas Patrick Kelly bought 15,000 shares of the business’s stock in a transaction dated Wednesday, September 30th. The shares were bought at an average cost of $37.32 per share, for a total transaction of $559,800.00. Following the completion of the transaction, the chief financial officer directly owned 15,000 shares of the company’s stock, valued at $559,800. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Xenon Pharmaceuticals Price Performance

NASDAQ XENE traded up $1.79 on Thursday, hitting $38.98. 939,424 shares of the stock were exchanged, compared to its average volume of 1,366,910. The company’s 50-day moving average price is $57.39 and its two-hundred day moving average price is $57.27. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of -8.25 and a beta of 0.61. Xenon Pharmaceuticals Inc. has a 52-week low of $36.07 and a 52-week high of $72.66.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.16) by $0.05. During the same period last year, the company posted ($1.07) earnings per share. Equities analysts predict that Xenon Pharmaceuticals Inc. will post -4.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on XENE. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $46.00 price objective (down from $90.00) on shares of Xenon Pharmaceuticals in a research note on Friday, September 18th. Robert W. Baird decreased their target price on Xenon Pharmaceuticals from $97.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, September 18th. Royal Bank Of Canada reduced their price objective on shares of Xenon Pharmaceuticals from $81.00 to $70.00 and set an “outperform” rating for the company in a research note on Friday, September 18th. Jefferies Financial Group restated a “buy” rating and set a $90.00 price target on shares of Xenon Pharmaceuticals in a report on Monday. Finally, Needham & Company LLC dropped their price target on Xenon Pharmaceuticals from $78.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, September 18th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.27.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Corient Private Wealth LP increased its stake in Xenon Pharmaceuticals by 1.5% during the 2nd quarter. Corient Private Wealth LP now owns 28,732 shares of the biopharmaceutical company’s stock worth $1,734,000 after acquiring an additional 430 shares during the period. Arizona State Retirement System grew its stake in Xenon Pharmaceuticals by 2.3% during the second quarter. Arizona State Retirement System now owns 22,382 shares of the biopharmaceutical company’s stock worth $1,351,000 after purchasing an additional 513 shares during the period. Royal Bank of Canada raised its stake in Xenon Pharmaceuticals by 0.7% during the 1st quarter. Royal Bank of Canada now owns 90,387 shares of the biopharmaceutical company’s stock worth $5,255,000 after buying an additional 630 shares during the period. PNC Financial Services Group Inc. raised its holdings in Xenon Pharmaceuticals by 11.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,574 shares of the biopharmaceutical company’s stock worth $295,000 after buying an additional 675 shares during the last quarter. Finally, Clearstead Advisors LLC lifted its position in Xenon Pharmaceuticals by 214.8% in the 4th quarter. Clearstead Advisors LLC now owns 1,215 shares of the biopharmaceutical company’s stock valued at $54,000 after acquiring an additional 829 shares in the last quarter. 95.45% of the stock is owned by institutional investors.

About Xenon Pharmaceuticals

Xenon Pharmaceuticals Inc is a clinical-stage biopharmaceutical company focused on developing medicines for neurological and psychiatric disorders. The company uses research in ion channels and neuronal signaling to identify potential treatments for conditions with significant unmet medical needs.

Xenon’s lead investigational medicine is azetukalner, also known as XEN1101, a selective potassium channel opener being evaluated for epilepsy and major depressive disorder. The company is also advancing additional programs aimed at genetically defined epilepsies and other disorders of the central nervous system.