Xenon Pharmaceuticals (NASDAQ:XENE) Stock: Insider Ian Mortimer Buys 30,000 Shares

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) CEO Ian Mortimer acquired 30,000 shares of the business’s stock in a transaction dated Wednesday, September 30th. The shares were acquired at an average price of $37.38 per share, for a total transaction of $1,121,400.00. Following the acquisition, the chief executive officer directly 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 acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Xenon Pharmaceuticals Stock Up 5.0%

Shares of XENE stock traded up $1.84 during trading on Thursday, reaching $39.03. The company’s stock had a trading volume of 939,424 shares, compared to its average volume of 1,366,910. The company has a market cap of $3.77 billion, a price-to-earnings ratio of -8.25 and a beta of 0.61. Xenon Pharmaceuticals Inc. has a one year low of $36.07 and a one year high of $72.66. The business has a fifty day moving average price of $57.39 and a 200-day moving average price of $57.27.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.11) EPS for the quarter, topping the consensus estimate of ($1.16) by $0.05. During the same period in the prior year, the company earned ($1.07) EPS. Research analysts anticipate that Xenon Pharmaceuticals Inc. will post -4.7 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on XENE shares. HC Wainwright reissued a “buy” rating on shares of Xenon Pharmaceuticals in a research report on Friday, September 18th. Wells Fargo & Company reduced their price objective on Xenon Pharmaceuticals from $69.00 to $64.00 and set an “overweight” rating for the company in a report on Friday, September 18th. Royal Bank Of Canada reduced their price target on Xenon Pharmaceuticals from $81.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, September 18th. Wedbush lowered their price target on Xenon Pharmaceuticals from $71.00 to $55.00 and set an “outperform” rating on the stock in a report on Friday, September 18th. Finally, Robert W. Baird decreased their price target on shares of Xenon Pharmaceuticals from $97.00 to $90.00 and set an “outperform” rating on the stock in a research note 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 assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $70.27.

Hedge Funds Weigh In On Xenon Pharmaceuticals

A number of hedge funds have recently modified their holdings of XENE. BlackRock Inc. purchased a new position in shares of Xenon Pharmaceuticals in the 2nd quarter worth $454,057,000. Avoro Capital Advisors LLC increased its stake in shares of Xenon Pharmaceuticals by 0.5% during the fourth quarter. Avoro Capital Advisors LLC now owns 5,424,444 shares of the biopharmaceutical company’s stock valued at $243,124,000 after buying an additional 24,444 shares during the period. Jupiter Topco LLC purchased a new position in shares of Xenon Pharmaceuticals in the 2nd quarter valued at $252,673,000. Janus Henderson Group PLC grew its position in shares of Xenon Pharmaceuticals by 2.3% in the 1st quarter. Janus Henderson Group PLC now owns 4,175,982 shares of the biopharmaceutical company’s stock worth $242,858,000 after buying an additional 91,948 shares during the last quarter. Finally, Capital International Investors grew its holdings in Xenon Pharmaceuticals by 7.3% in the fourth quarter. Capital International Investors now owns 3,414,959 shares of the biopharmaceutical company’s stock worth $153,058,000 after purchasing an additional 233,466 shares during the last quarter. 95.45% of the stock is currently 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.