Xenon Pharmaceuticals (NASDAQ:XENE) Now Covered by Guggenheim

Guggenheim assumed coverage on shares of Xenon Pharmaceuticals (NASDAQ:XENE) in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $73.00 target price on the biopharmaceutical company’s stock.

A number of other equities analysts have also recently commented on XENE. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research note on Friday. Jefferies Financial Group reissued a “buy” rating and issued a $90.00 price objective on shares of Xenon Pharmaceuticals in a research report on Monday, September 28th. Deutsche Bank Aktiengesellschaft reissued 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 dropped 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. Finally, Wedbush cut their target price on Xenon Pharmaceuticals from $71.00 to $55.00 and set an “outperform” rating on the stock in a research note on Friday, September 18th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $70.14.

Xenon Pharmaceuticals Stock Down 2.7%

Shares of XENE opened at $36.57 on Tuesday. The business has a fifty day moving average of $55.19 and a 200 day moving average of $56.79. The company has a market cap of $3.54 billion, a PE ratio of -7.72 and a beta of 0.60. Xenon Pharmaceuticals has a 52-week low of $35.75 and a 52-week high of $72.66.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings data 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 quarter in the prior year, the firm posted ($1.07) EPS. As a group, research analysts anticipate that Xenon Pharmaceuticals will post -4.7 earnings per share for the current fiscal year.

Insider Activity at Xenon Pharmaceuticals

In related news, CEO Ian Mortimer acquired 30,000 shares of the stock in a transaction on Wednesday, September 30th. The stock was bought at an average cost of $37.38 per share, with a total value of $1,121,400.00. Following the transaction, the chief executive officer directly owned 49,923 shares in the company, valued at approximately $1,866,121.74. This represents a 150.58% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Christopher Kenney sold 7,068 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $60.25, for a total transaction of $425,847.00. Following the completion of the sale, the insider directly owned 2 shares of the company’s stock, valued at approximately $120.50. This trade represents a 99.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.91% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of XENE. BlackRock Inc. bought a new stake in Xenon Pharmaceuticals during the 2nd quarter valued at $454,057,000. Avoro Capital Advisors LLC grew its position in shares of Xenon Pharmaceuticals by 0.5% during the 4th quarter. Avoro Capital Advisors LLC now owns 5,424,444 shares of the biopharmaceutical company’s stock worth $243,124,000 after buying an additional 24,444 shares in the last quarter. Jupiter Topco LLC bought a new position in shares of Xenon Pharmaceuticals during the 2nd quarter worth $252,673,000. Janus Henderson Group PLC increased its stake in shares of Xenon Pharmaceuticals by 2.3% during the first quarter. Janus Henderson Group PLC now owns 4,175,982 shares of the biopharmaceutical company’s stock valued at $242,858,000 after buying an additional 91,948 shares during the period. Finally, Capital International Investors increased its stake in shares of Xenon Pharmaceuticals by 7.3% during the fourth quarter. Capital International Investors now owns 3,414,959 shares of the biopharmaceutical company’s stock valued at $153,058,000 after buying an additional 233,466 shares during the period. Institutional investors own 95.45% of the company’s stock.

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.