Xenon Pharmaceuticals (NASDAQ:XENE) Hits New 1-Year Low – Time to Sell?

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) hit a new 52-week low during trading on Friday . The stock traded as low as $33.27 and last traded at $36.51, with a volume of 77945 shares. The stock had previously closed at $38.31.

Analyst Ratings Changes

Several brokerages have recently commented on XENE. Deutsche Bank Aktiengesellschaft began coverage on Xenon Pharmaceuticals in a report on Tuesday, February 11th. They set a “buy” rating and a $67.00 target price on the stock. William Blair restated an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Friday. Needham & Company LLC restated a “buy” rating and set a $60.00 target price on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th. Finally, HC Wainwright reiterated a “buy” rating and issued a $53.00 price target on shares of Xenon Pharmaceuticals in a report on Monday, February 24th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $57.38.

Xenon Pharmaceuticals Trading Down 3.4 %

The business has a 50-day moving average of $39.27 and a two-hundred day moving average of $40.31. The firm has a market cap of $2.82 billion, a P/E ratio of -13.13 and a beta of 1.20.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) EPS for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.05. As a group, equities analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current year.

Insider Activity

In related news, CEO Ian Mortimer sold 22,468 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $40.20, for a total transaction of $903,213.60. Following the completion of the sale, the chief executive officer now directly owns 31,302 shares of the company’s stock, valued at approximately $1,258,340.40. This trade represents a 41.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Sherry Aulin sold 18,709 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $41.21, for a total value of $770,997.89. The disclosure for this sale can be found here. Insiders have sold 57,492 shares of company stock worth $2,334,969 over the last 90 days. 5.52% of the stock is currently owned by corporate insiders.

Institutional Trading of Xenon Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. increased its position in Xenon Pharmaceuticals by 174.7% in the third quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 641 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in Xenon Pharmaceuticals in the fourth quarter worth $63,000. Quarry LP purchased a new stake in Xenon Pharmaceuticals in the fourth quarter worth $78,000. Avior Wealth Management LLC purchased a new stake in Xenon Pharmaceuticals in the fourth quarter worth $101,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Xenon Pharmaceuticals by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company’s stock worth $106,000 after buying an additional 487 shares during the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

About Xenon Pharmaceuticals

Xenon Pharmaceuticals Inc, a neuroscience-focused biopharmaceutical company, engages in the development of therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN1101, a novel and potent Kv7 potassium channel opener, which is in Phase 3 clinical trials for the treatment of epilepsy and other neurological disorders.