Xenon Pharmaceuticals (NASDAQ:XENE) Director Steven Gannon Sells 10,000 Shares

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Director Steven Gannon sold 10,000 shares of Xenon Pharmaceuticals stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $64.06, for a total value of $640,600.00. Following the sale, the director directly owned 1,870 shares of the company’s stock, valued at approximately $119,792.20. This trade represents a 84.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Xenon Pharmaceuticals Trading Down 1.6%

Shares of XENE stock opened at $64.23 on Friday. Xenon Pharmaceuticals Inc. has a twelve month low of $35.60 and a twelve month high of $72.66. The stock has a fifty day simple moving average of $61.13 and a two-hundred day simple moving average of $54.94. The stock has a market capitalization of $6.21 billion, a price-to-earnings ratio of -13.55 and a beta of 0.62.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.11) EPS for the quarter, beating the consensus estimate of ($1.16) by $0.05. During the same period in the previous year, the business posted ($1.07) EPS. Research analysts predict that Xenon Pharmaceuticals Inc. will post -4.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in XENE. Bank of New York Mellon Corp grew its holdings in Xenon Pharmaceuticals by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 396,138 shares of the biopharmaceutical company’s stock worth $23,035,000 after purchasing an additional 8,980 shares during the last quarter. Peregrine Capital Management LLC purchased a new stake in shares of Xenon Pharmaceuticals during the 4th quarter valued at $7,837,000. Siren L.L.C. lifted its holdings in shares of Xenon Pharmaceuticals by 62.2% during the 1st quarter. Siren L.L.C. now owns 1,318,564 shares of the biopharmaceutical company’s stock valued at $76,674,000 after purchasing an additional 505,803 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Xenon Pharmaceuticals by 13.8% in the 4th quarter. Jennison Associates LLC now owns 1,292,055 shares of the biopharmaceutical company’s stock worth $57,910,000 after purchasing an additional 156,820 shares in the last quarter. Finally, Nicholas Investment Partners LP boosted its position in shares of Xenon Pharmaceuticals by 104.0% in the 4th quarter. Nicholas Investment Partners LP now owns 242,989 shares of the biopharmaceutical company’s stock worth $10,891,000 after purchasing an additional 123,891 shares in the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Analyst Ratings Changes

XENE has been the topic of a number of research reports. Wells Fargo & Company reissued an “overweight” rating and set a $69.00 target price on shares of Xenon Pharmaceuticals in a research report on Sunday, May 10th. Wall Street Zen upgraded shares of Xenon Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research note on Monday, July 6th. HC Wainwright reissued a “buy” rating and set a $74.00 price objective on shares of Xenon Pharmaceuticals in a report on Monday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. Two investment 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $77.13.

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.