Xenon Pharmaceuticals (NASDAQ:XENE) Cut to Sell at StockNews.com

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) was downgraded by stock analysts at StockNews.com from a "hold" rating to a "sell" rating in a research report issued on Wednesday.

Several other research analysts also recently commented on the stock. William Blair reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. Royal Bank of Canada reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. HC Wainwright restated a "buy" rating and set a $53.00 target price on shares of Xenon Pharmaceuticals in a research note on Monday, February 24th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Xenon Pharmaceuticals in a report on Tuesday, February 11th. They issued a "buy" rating and a $67.00 target price on the stock. One analyst has rated the stock with a sell rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $56.78.

Xenon Pharmaceuticals Stock Performance

Shares of XENE traded up $1.36 during trading hours on Wednesday, hitting $35.14. 825,775 shares of the company were exchanged, compared to its average volume of 437,281. The company has a market cap of $2.69 billion, a PE ratio of -12.46 and a beta of 1.21. The firm's 50 day moving average is $35.02 and its 200-day moving average is $38.79. Xenon Pharmaceuticals has a 52 week low of $26.74 and a 52 week high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.89) by $0.05. As a group, equities analysts forecast that Xenon Pharmaceuticals will post -3.1 earnings per share for the current fiscal year.

Insider Activity at Xenon Pharmaceuticals

In related news, CEO Ian Mortimer sold 22,468 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $40.20, for a total value of $903,213.60. Following the completion of the transaction, the chief executive officer now owns 31,302 shares of the company's stock, valued at $1,258,340.40. This represents a 41.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Large investors have recently modified their holdings of the stock. Prudential Financial Inc. grew its position in Xenon Pharmaceuticals by 177.7% in the fourth quarter. Prudential Financial Inc. now owns 39,000 shares of the biopharmaceutical company's stock valued at $1,529,000 after acquiring an additional 24,956 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Xenon Pharmaceuticals by 1,263.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company's stock worth $38,456,000 after purchasing an additional 905,129 shares during the last quarter. Barclays PLC increased its position in shares of Xenon Pharmaceuticals by 1,275.5% during the 3rd quarter. Barclays PLC now owns 14,993 shares of the biopharmaceutical company's stock worth $590,000 after purchasing an additional 13,903 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Xenon Pharmaceuticals by 12.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 238,522 shares of the biopharmaceutical company's stock valued at $9,350,000 after purchasing an additional 26,235 shares during the last quarter. Finally, State Street Corp boosted its position in Xenon Pharmaceuticals by 13.2% in the third quarter. State Street Corp now owns 279,513 shares of the biopharmaceutical company's stock valued at $11,004,000 after buying an additional 32,701 shares in the last quarter. 95.45% of the stock is currently owned by 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.