Xenon Pharmaceuticals (NASDAQ:XENE) Stock Rating Upgraded by Wall Street Zen

Xenon Pharmaceuticals (NASDAQ:XENE) was upgraded by equities research analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report released on Saturday, Wall Street Zen reports.

XENE has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $46.00 target price (down from $90.00) on shares of Xenon Pharmaceuticals in a research report on Friday, September 18th. Jefferies Financial Group reissued a “buy” rating and issued a $90.00 price target on shares of Xenon Pharmaceuticals in a report on Monday, September 28th. Wells Fargo & Company reduced their price objective on shares of Xenon Pharmaceuticals from $69.00 to $64.00 and set an “overweight” rating for the company in a research report on Friday, September 18th. Robert W. Baird decreased their price objective on shares of Xenon Pharmaceuticals from $97.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, September 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a report on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $70.27.

Xenon Pharmaceuticals Stock Performance

XENE opened at $38.02 on Friday. The company has a fifty day moving average of $56.32 and a two-hundred day moving average of $57.04. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of -8.02 and a beta of 0.60. Xenon Pharmaceuticals has a fifty-two week low of $36.07 and a fifty-two week high of $72.66.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.16) by $0.05. During the same period in the previous year, the company posted ($1.07) EPS. On average, equities research analysts forecast that Xenon Pharmaceuticals will post -4.7 earnings per share for the current year.

Insider Activity

In other news, CEO Ian Mortimer purchased 30,000 shares of Xenon Pharmaceuticals stock in a transaction dated Wednesday, September 30th. The shares were purchased at an average price of $37.38 per share, with a total value of $1,121,400.00. Following the transaction, the chief executive officer owned 49,923 shares in the company, valued at $1,866,121.74. This represents a 150.58% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher Kenney sold 7,068 shares of the stock in a transaction on Friday, August 28th. The stock was sold at an average price of $60.25, for a total value of $425,847.00. Following the transaction, the insider owned 2 shares of the company’s stock, valued at approximately $120.50. This represents a 99.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 2.91% of the company’s stock.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rockefeller Capital Management L.P. increased its stake in Xenon Pharmaceuticals by 450.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,100 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 900 shares during the period. Global Retirement Partners LLC purchased a new position in shares of Xenon Pharmaceuticals in the second quarter valued at approximately $53,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Xenon Pharmaceuticals in the fourth quarter valued at approximately $55,000. Quantbot Technologies LP acquired a new position in shares of Xenon Pharmaceuticals in the second quarter valued at approximately $57,000. Finally, Axiom Investment Management LLC acquired a new position in shares of Xenon Pharmaceuticals in the first quarter valued at approximately $58,000. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

More Xenon Pharmaceuticals News

Here are the key news stories impacting Xenon Pharmaceuticals this week:

• Positive Sentiment: CEO Ian Mortimer purchased 30,000 shares for approximately $1.12 million, while CFO Thomas Patrick Kelly bought 15,000 shares for about $559,800. The combined purchases, made near $37 per share, may reassure investors that senior management views the recent weakness as an attractive entry point. Insider Buying: Xenon Pharmaceuticals CFO Buys $559,800 in Stock
• Positive Sentiment: RBC said safety issues are unlikely to derail the approval path for azetukalner (XEN1101), Xenon’s lead investigational treatment for epilepsy and major depressive disorder. This reduces concern that safety questions could materially delay a key development catalyst. Xenon’s AZK Approval Path Unlikely to Be Hurt by Safety Issues
• Neutral Sentiment: Xenon granted eight newly hired, non-officer employees 17,850 stock options and 10,500 restricted share units under Nasdaq’s inducement-grant exemption. The awards support recruitment but could modestly increase future share dilution. Xenon Pharmaceuticals Reports Inducement Grants
• Negative Sentiment: Although analysts maintain a broadly positive consensus, recent target-price reductions—including Deutsche Bank’s cut to $46 from $90—highlight continuing concerns about valuation, execution and the path to commercialization. Xenon remains loss-making, with analysts expecting a full-year loss of approximately $4.70 per share.

Xenon Pharmaceuticals Company Profile

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.