Xenon Pharmaceuticals (NASDAQ:XENE) Reaches New 52-Week Low – Time to Sell?

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) hit a new 52-week low during trading on Monday . The company traded as low as $32.70 and last traded at $33.11, with a volume of 15958 shares. The stock had previously closed at $34.26.

Analyst Ratings Changes

XENE has been the topic of a number of research analyst reports. Royal Bank of Canada restated an “outperform” rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. HC Wainwright reiterated a “buy” rating and issued a $53.00 price target on shares of Xenon Pharmaceuticals in a research report on Monday, February 24th. StockNews.com upgraded Xenon Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday. William Blair restated an “outperform” rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating and a $67.00 target price for the company. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Xenon Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $57.38.

Xenon Pharmaceuticals Price Performance

The stock has a fifty day moving average of $37.72 and a 200 day moving average of $39.74. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of -11.67 and a beta of 1.26.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.84) EPS for the quarter, beating the consensus estimate of ($0.89) by $0.05. As a group, equities analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Ian Mortimer sold 22,468 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $40.20, for a total transaction of $903,213.60. Following the completion of the transaction, the chief executive officer now directly owns 31,302 shares of the company’s stock, valued at $1,258,340.40. This represents a 41.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 5.52% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Xenon Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in XENE. GF Fund Management CO. LTD. purchased a new position in Xenon Pharmaceuticals during the fourth quarter valued at $63,000. Quarry LP purchased a new position in Xenon Pharmaceuticals in the 4th quarter valued at about $78,000. Blue Trust Inc. boosted its holdings in Xenon Pharmaceuticals by 140.3% in the 4th quarter. Blue Trust Inc. now owns 2,422 shares of the biopharmaceutical company’s stock worth $95,000 after buying an additional 1,414 shares during the last quarter. Avior Wealth Management LLC purchased a new stake in Xenon Pharmaceuticals during the 4th quarter worth approximately $101,000. Finally, KBC Group NV lifted its position in shares of 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 acquiring an additional 780 shares in the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Xenon Pharmaceuticals Company Profile

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.