Xenon Pharmaceuticals (NASDAQ:XENE) Posts Earnings Results, Beats Expectations By $0.02 EPS

Xenon Pharmaceuticals (NASDAQ:XENE) posted its earnings results on Monday. The biopharmaceutical company reported ($1.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.13) by $0.02, FiscalAI reports.

Xenon Pharmaceuticals Stock Up 3.1%

Xenon Pharmaceuticals stock traded up $1.22 during midday trading on Monday, hitting $40.39. 990,750 shares of the stock were exchanged, compared to its average volume of 1,386,516. Xenon Pharmaceuticals has a 52-week low of $33.38 and a 52-week high of $72.66. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of -8.52 and a beta of 0.11. The business’s 50-day moving average price is $43.04 and its 200-day moving average price is $52.15.

Insider Activity

In other Xenon Pharmaceuticals news, Director Steven Gannon sold 10,000 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $64.06, for a total value of $640,600.00. Following the completion of the sale, the director owned 1,870 shares in the company, valued at approximately $119,792.20. This trade represents a 84.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ian Mortimer bought 30,000 shares of the company’s stock in a transaction on Wednesday, September 30th. The shares were purchased at an average cost of $37.38 per share, for a total transaction of $1,121,400.00. Following the transaction, the chief executive officer owned 49,923 shares in the company, valued at approximately $1,866,121.74. This represents a 150.58% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 2.91% of the company’s stock.

Wall Street Analyst Weigh In

XENE has been the subject of a number of recent research reports. Wedbush decreased their price objective on Xenon Pharmaceuticals from $71.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, September 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a report on Friday, October 2nd. Deutsche Bank Aktiengesellschaft cut Xenon Pharmaceuticals from a “buy” rating to a “hold” rating and cut their target price for the company from $90.00 to $46.00 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 research report on Monday, September 28th. Finally, Royal Bank Of Canada lowered 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. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Xenon Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $71.31.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing medicines for neurological disorders. The company’s research emphasizes ion channels, proteins that help regulate the electrical activity of nerve cells.

Its lead program is azetukalner, formerly known as XEN1101, an oral Kv7 potassium-channel opener being developed for seizure disorders, including focal epilepsy. Xenon is also advancing other drug candidates aimed at neurological conditions.

Founded in 1996, Xenon is headquartered in Burnaby, British Columbia, and conducts drug development activities in North America.