Xenon Pharmaceuticals (NASDAQ:XENE) Given "Sell (D-)" Rating at Weiss Ratings

Key Points

• Xenon Pharmaceuticals has received a "Sell (D-)" rating from Weiss Ratings, despite some analysts issuing ratings ranging from "Strong Buy" to "Outperform."
• The company's stock traded down 0.4% to $39.83, with a market cap of $3.07 billion and a 1-year trading range between $26.74 and $46.00.
• Insider selling was noted, with CEO Ian Mortimer offloading 25,000 shares at around $40.16, decreasing his ownership stake by 44.40%.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report)'s stock had its "sell (d-)" rating reissued by stock analysts at Weiss Ratings in a research note issued to investors on Tuesday,Weiss Ratings reports.

A number of other equities analysts have also recently weighed in on the company. Bloom Burton upgraded Xenon Pharmaceuticals to a "strong-buy" rating in a report on Tuesday, October 7th. Chardan Capital restated a "buy" rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a report on Tuesday, October 7th. Wells Fargo & Company started coverage on Xenon Pharmaceuticals in a report on Wednesday, September 3rd. They issued an "overweight" rating and a $48.00 price target for the company. William Blair restated an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Tuesday, October 7th. Finally, Wedbush upped their price target on Xenon Pharmaceuticals from $42.00 to $43.00 and gave the stock an "outperform" rating in a report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $53.67.

Xenon Pharmaceuticals Stock Down 0.4%

Shares of NASDAQ XENE traded down $0.16 during midday trading on Tuesday, hitting $39.83. The stock had a trading volume of 83,253 shares, compared to its average volume of 862,329. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of -11.23 and a beta of 1.14. Xenon Pharmaceuticals has a 1-year low of $26.74 and a 1-year high of $46.00. The company has a fifty day moving average price of $37.77 and a 200 day moving average price of $34.25.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The biopharmaceutical company reported ($1.07) earnings per share for the quarter, missing the consensus estimate of ($1.03) by ($0.04). During the same quarter last year, the business earned ($0.75) earnings per share. On average, research analysts forecast that Xenon Pharmaceuticals will post -3.1 EPS for the current year.

Insider Activity

In other Xenon Pharmaceuticals news, CEO Ian Mortimer sold 25,000 shares of the company's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $40.16, for a total value of $1,004,000.00. Following the transaction, the chief executive officer directly owned 31,302 shares of the company's stock, valued at $1,257,088.32. This represents a 44.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 4.07% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. Mutual of America Capital Management LLC acquired a new stake in shares of Xenon Pharmaceuticals during the 1st quarter valued at approximately $1,636,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Xenon Pharmaceuticals by 15.7% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,964 shares of the biopharmaceutical company's stock valued at $93,000 after acquiring an additional 403 shares in the last quarter. Natixis Advisors LLC raised its position in shares of Xenon Pharmaceuticals by 1.9% during the 1st quarter. Natixis Advisors LLC now owns 24,010 shares of the biopharmaceutical company's stock valued at $806,000 after acquiring an additional 456 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Xenon Pharmaceuticals by 439.0% during the 1st quarter. Bank of New York Mellon Corp now owns 251,147 shares of the biopharmaceutical company's stock valued at $8,426,000 after acquiring an additional 204,550 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its position in shares of Xenon Pharmaceuticals by 17.5% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 47,457 shares of the biopharmaceutical company's stock valued at $1,592,000 after acquiring an additional 7,081 shares in the last quarter. 95.45% of the stock is owned by institutional investors and hedge funds.

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.

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