Insider Selling: Xenon Pharmaceuticals Inc. (NASDAQ:XENE) CEO Sells $660,757.50 in Stock

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) CEO Ian Mortimer sold 16,315 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $40.50, for a total transaction of $660,757.50. Following the transaction, the chief executive officer now owns 31,302 shares of the company’s stock, valued at approximately $1,267,731. The trade was a 34.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Ian Mortimer also recently made the following trade(s):

• On Friday, January 24th, Ian Mortimer sold 22,468 shares of Xenon Pharmaceuticals stock. The stock was sold at an average price of $40.20, for a total value of $903,213.60.

Xenon Pharmaceuticals Trading Up 0.5 %

Shares of NASDAQ XENE opened at $40.19 on Thursday. Xenon Pharmaceuticals Inc. has a 12-month low of $35.53 and a 12-month high of $50.99. The stock’s fifty day simple moving average is $40.26 and its two-hundred day simple moving average is $40.80. The stock has a market capitalization of $3.06 billion, a PE ratio of -14.25 and a beta of 1.20.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.01. During the same period in the previous year, the business posted ($0.73) EPS. On average, equities analysts predict that Xenon Pharmaceuticals Inc. will post -3.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

XENE has been the subject of a number of recent research reports. Needham & Company LLC restated a “buy” rating and issued a $60.00 target price on shares of Xenon Pharmaceuticals in a research report on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and set a $53.00 target price on shares of Xenon Pharmaceuticals in a research note on Thursday, December 12th. Finally, Raymond James reissued an “outperform” rating and issued a $50.00 target price on shares of Xenon Pharmaceuticals in a research report on Thursday, October 10th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Xenon Pharmaceuticals currently has an average rating of “Buy” and an average price target of $56.00.

Hedge Funds Weigh In On Xenon Pharmaceuticals

A number of institutional investors have recently modified their holdings of XENE. Mirae Asset Global Investments Co. Ltd. boosted its position in Xenon Pharmaceuticals by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company’s stock worth $106,000 after purchasing an additional 487 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in Xenon Pharmaceuticals by 3.8% during the third quarter. Advisors Asset Management Inc. now owns 13,592 shares of the biopharmaceutical company’s stock worth $535,000 after buying an additional 493 shares in the last quarter. Blue Trust Inc. boosted its holdings in Xenon Pharmaceuticals by 174.7% during 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 in the last quarter. Envestnet Asset Management Inc. increased its holdings in Xenon Pharmaceuticals by 1.6% in the second quarter. Envestnet Asset Management Inc. now owns 48,946 shares of the biopharmaceutical company’s stock valued at $1,908,000 after buying an additional 769 shares in the last quarter. Finally, KBC Group NV increased its holdings in Xenon Pharmaceuticals by 39.8% in the fourth quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 780 shares in the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

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.