Xenon Pharmaceuticals (NASDAQ:XENE) Stock Price Up 5% - Should You Buy?

Key Points

• Xenon Pharmaceuticals shares rose 5.1% to about $63.43, with trading volume well below average. The stock’s consensus analyst rating is “Buy,” with an average price target of $77.13.
• The company reported quarterly EPS of -$1.11, beating the consensus estimate of -$1.16, though analysts expect a full-year loss of approximately $4.73 per share.
• Insiders sold 12,512 shares worth $774,088 over the past three months, while institutional investors own a substantial 95.45% of outstanding shares.

Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Get Free Report)'s share price was up 5% during mid-day trading on Wednesday . The company traded as high as $63.86 and last traded at $63.43. Approximately 297,710 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 1,253,954 shares. The stock had previously closed at $60.42.

Wall Street Analysts Forecast Growth

XENE has been the subject of a number of recent research reports. JPMorgan Chase & Co. upped their price target on Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 27th. Weiss Ratings reissued a "sell (d-)" rating on shares of Xenon Pharmaceuticals in a research report on Monday, July 6th. HC Wainwright reaffirmed a "buy" rating and issued a $74.00 target price on shares of Xenon Pharmaceuticals in a research report on Monday, August 10th. Needham & Company LLC lowered 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, Royal Bank Of Canada cut their price target on shares of Xenon Pharmaceuticals from $82.00 to $81.00 and set an "outperform" rating on the stock in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $77.13.

Xenon Pharmaceuticals Stock Up 5.1%

The business's 50 day simple moving average is $62.65 and its 200 day simple moving average is $56.05. The stock has a market cap of $6.14 billion, a price-to-earnings ratio of -13.40 and a beta of 0.62.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last issued its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.16) by $0.05. During the same quarter last year, the company earned ($1.07) earnings per share. Equities research analysts forecast that Xenon Pharmaceuticals Inc. will post -4.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Gary Patou sold 1,322 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $53.14, for a total value of $70,251.08. Following the sale, the director owned 24,896 shares in the company, valued at approximately $1,322,973.44. This represents a 5.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven Gannon sold 10,000 shares of the firm's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $64.06, for a total value of $640,600.00. Following the sale, the director directly owned 1,870 shares of the company's stock, valued at $119,792.20. This represents a 84.25% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 12,512 shares of company stock valued at $774,088. 2.91% of the stock is owned by insiders.

Institutional Trading of Xenon Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of XENE. Goldman Sachs Group Inc. boosted its holdings in shares of Xenon Pharmaceuticals by 7.9% during the first quarter. Goldman Sachs Group Inc. now owns 442,732 shares of the biopharmaceutical company's stock worth $14,854,000 after acquiring an additional 32,486 shares during the period. Jump Financial LLC acquired a new stake in Xenon Pharmaceuticals during the 2nd quarter worth approximately $532,000. Sei Investments Co. bought a new stake in Xenon Pharmaceuticals in the 2nd quarter valued at $711,000. The Manufacturers Life Insurance Company bought a new stake in Xenon Pharmaceuticals in the 2nd quarter valued at $816,000. Finally, Alliancebernstein L.P. grew its holdings in Xenon Pharmaceuticals by 14.2% in the 2nd quarter. Alliancebernstein L.P. now owns 1,518,527 shares of the biopharmaceutical company's stock valued at $47,530,000 after buying an additional 189,141 shares in the last quarter. Institutional investors own 95.45% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source