Xenon Pharmaceuticals (NASDAQ:XENE) CFO Thomas Patrick Kelly Buys 15,000 Shares of Stock

Key Points

• CFO Thomas Patrick Kelly purchased 15,000 Xenon Pharmaceuticals shares at an average price of $37.32, investing approximately $559,800 and bringing his total holdings to 15,000 shares.
• XENE shares rose 4.8% to $38.98, while the stock remains near its 52-week low of $36.07 and has a market capitalization of approximately $3.77 billion.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $70.27, although several firms recently lowered their targets; institutional investors own 95.45% of the company.

Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Get Free Report) CFO Thomas Patrick Kelly bought 15,000 shares of the stock in a transaction dated Wednesday, September 30th. The shares were acquired at an average price of $37.32 per share, for a total transaction of $559,800.00. Following the completion of the transaction, the chief financial officer owned 15,000 shares of the company's stock, valued at approximately $559,800. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Xenon Pharmaceuticals Stock Up 4.8%

Shares of XENE traded up $1.79 during trading hours on Thursday, reaching $38.98. 939,424 shares of the company traded hands, compared to its average volume of 1,366,910. The stock has a fifty day simple moving average of $57.39 and a 200 day simple moving average of $57.27. The stock has a market capitalization of $3.77 billion, a PE ratio of -8.25 and a beta of 0.61. Xenon Pharmaceuticals Inc. has a fifty-two week low of $36.07 and a fifty-two week high of $72.66.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.11) earnings per share for the quarter, beating the consensus estimate 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 -4.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new position in Xenon Pharmaceuticals in the 2nd quarter valued at about $454,057,000. Avoro Capital Advisors LLC raised its stake in shares of 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 worth $243,124,000 after buying an additional 24,444 shares in the last quarter. Jupiter Topco LLC bought a new position in Xenon Pharmaceuticals during the second quarter valued at about $252,673,000. Janus Henderson Group PLC raised its position in Xenon Pharmaceuticals by 2.3% in the first quarter. Janus Henderson Group PLC now owns 4,175,982 shares of the biopharmaceutical company's stock worth $242,858,000 after acquiring an additional 91,948 shares in the last quarter. Finally, Capital International Investors boosted its position in shares of Xenon Pharmaceuticals by 7.3% during the 4th quarter. Capital International Investors now owns 3,414,959 shares of the biopharmaceutical company's stock valued at $153,058,000 after purchasing an additional 233,466 shares in the last quarter. Institutional investors own 95.45% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on XENE shares. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $46.00 target price (down from $90.00) on shares of Xenon Pharmaceuticals in a research report on Friday, September 18th. Wedbush dropped their target price on shares of Xenon Pharmaceuticals from $71.00 to $55.00 and set an "outperform" rating on the stock in a report on Friday, September 18th. Needham & Company LLC decreased their price target on shares of Xenon Pharmaceuticals from $78.00 to $60.00 and set a "buy" rating for the company in a report on Friday, September 18th. Wells Fargo & Company cut their target price on shares of Xenon Pharmaceuticals from $69.00 to $64.00 and set an "overweight" rating on the stock in a report on Friday, September 18th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Xenon Pharmaceuticals in a research report on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $70.27.

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.

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