Xenon Pharmaceuticals (NASDAQ:XENE) Director Sells $640,600.00 in Stock

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

Xenon Pharmaceuticals Stock Down 1.6%

XENE stock traded down $1.03 during mid-day trading on Thursday, hitting $64.23. 496,366 shares of the company were exchanged, compared to its average volume of 1,290,213. Xenon Pharmaceuticals Inc. has a 12-month low of $35.60 and a 12-month high of $72.66. The firm has a market capitalization of $6.21 billion, a P/E ratio of -13.55 and a beta of 0.62. The business has a fifty day simple moving average of $60.91 and a 200-day simple moving average of $54.78.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.16) by $0.05. During the same quarter in the previous year, the company earned ($1.07) earnings per share. Research analysts predict that Xenon Pharmaceuticals Inc. will post -4.78 EPS for the current year.

Institutional Trading of Xenon Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in Xenon Pharmaceuticals during the 2nd quarter worth $454,057,000. Avoro Capital Advisors LLC raised its position in Xenon Pharmaceuticals by 0.5% in the 4th quarter. Avoro Capital Advisors LLC now owns 5,424,444 shares of the biopharmaceutical company’s stock valued at $243,124,000 after purchasing an additional 24,444 shares in the last quarter. Janus Henderson Group PLC boosted its stake 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 valued at $242,858,000 after buying an additional 91,948 shares during the period. Wellington Management Group LLP grew its position in shares of Xenon Pharmaceuticals by 66.0% during the third quarter. Wellington Management Group LLP now owns 3,609,857 shares of the biopharmaceutical company’s stock worth $144,936,000 after buying an additional 1,435,096 shares in the last quarter. Finally, Capital International Investors grew its position 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 worth $153,058,000 after buying an additional 233,466 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on XENE shares. Weiss Ratings restated a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research note on Monday, July 6th. Wall Street Zen upgraded Xenon Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, August 1st. HC Wainwright reissued a “buy” rating and set a $74.00 target price on shares of Xenon Pharmaceuticals in a research note on Monday. Needham & Company LLC cut their price target on shares of Xenon Pharmaceuticals from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $69.00 price target on shares of Xenon Pharmaceuticals in a research report on Sunday, May 10th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently 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.