Xenon Pharmaceuticals (NASDAQ:XENE) Hits New 52-Week High – Still a Buy?

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) shares reached a new 52-week high during trading on Friday . The stock traded as high as $46.99 and last traded at $44.78, with a volume of 461795 shares. The stock had previously closed at $44.92.

Analyst Ratings Changes

Several research firms have weighed in on XENE. Wolfe Research started coverage on shares of Xenon Pharmaceuticals in a research report on Monday. They set an “outperform” rating and a $60.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a report on Tuesday, November 4th. Stifel Nicolaus set a $66.00 target price on Xenon Pharmaceuticals in a research report on Tuesday, February 10th. Chardan Capital raised Xenon Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, November 19th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Xenon Pharmaceuticals from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, January 9th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $55.17.

Xenon Pharmaceuticals Trading Down 3.5%

The business has a fifty day moving average price of $42.51 and a 200 day moving average price of $40.94. The firm has a market cap of $3.35 billion, a PE ratio of -11.12 and a beta of 0.96.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.20) by ($0.11). During the same period in the previous year, the firm posted ($0.84) earnings per share. On average, research analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Ian Mortimer sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $44.43, for a total value of $1,777,200.00. Following the completion of the transaction, the chief executive officer directly owned 6,000 shares of the company’s stock, valued at $266,580. This trade represents a 86.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 65,205 shares of company stock worth $2,919,762 in the last quarter. Corporate insiders own 4.07% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP grew its position in shares of Xenon Pharmaceuticals by 34.6% during the 2nd quarter. Marshall Wace LLP now owns 1,020,254 shares of the biopharmaceutical company’s stock worth $31,934,000 after buying an additional 262,109 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Xenon Pharmaceuticals by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 1,399,033 shares of the biopharmaceutical company’s stock worth $56,171,000 after acquiring an additional 142,452 shares in the last quarter. American Century Companies Inc. bought a new stake in Xenon Pharmaceuticals during the 2nd quarter worth approximately $21,280,000. Saturn V Capital Management LP raised its holdings in shares of Xenon Pharmaceuticals by 13.2% during the second quarter. Saturn V Capital Management LP now owns 468,364 shares of the biopharmaceutical company’s stock worth $14,660,000 after acquiring an additional 54,653 shares during the period. Finally, Aberdeen Group plc lifted its holdings in shares of Xenon Pharmaceuticals by 11.1% in the third quarter. Aberdeen Group plc now owns 579,145 shares of the biopharmaceutical company’s stock valued at $23,253,000 after purchasing an additional 57,653 shares in the last quarter. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Company Profile

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.