Xenon Pharmaceuticals (NASDAQ:XENE) Issues Earnings Results, Beats Estimates By $0.02 EPS

Xenon Pharmaceuticals (NASDAQ:XENE) posted its quarterly earnings results on Monday. The biopharmaceutical company reported ($1.11) earnings per share for the quarter, topping the consensus estimate of ($1.13) by $0.02, FiscalAI reports.

Xenon Pharmaceuticals Trading Up 3.3%

Shares of XENE stock traded up $1.28 on Monday, reaching $40.45. The company’s stock had a trading volume of 1,538,237 shares, compared to its average volume of 1,389,464. The stock’s fifty day simple moving average is $43.04 and its 200-day simple moving average is $52.15. Xenon Pharmaceuticals has a 1 year low of $33.38 and a 1 year high of $72.66. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of -8.53 and a beta of 0.11.

Analyst Ratings Changes

Several research firms have recently issued reports on XENE. Wells Fargo & Company reduced their price objective on shares of Xenon Pharmaceuticals from $69.00 to $64.00 and set an “overweight” rating on the stock in a research report on Friday, September 18th. Jefferies Financial Group restated a “buy” rating and set a $90.00 target price on shares of Xenon Pharmaceuticals in a research report on Monday, September 28th. HC Wainwright reaffirmed a “buy” rating on shares of Xenon Pharmaceuticals in a research note on Friday, September 18th. Wall Street Zen downgraded shares of Xenon Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Sunday, October 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research note on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Xenon Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.31.

Insider Buying and Selling at Xenon Pharmaceuticals

In other Xenon Pharmaceuticals news, CEO Ian Mortimer acquired 30,000 shares of the company’s stock in a transaction on Wednesday, September 30th. The stock was acquired at an average cost of $37.38 per share, with a total value of $1,121,400.00. Following the purchase, the chief executive officer directly owned 49,923 shares of the company’s stock, valued at approximately $1,866,121.74. This represents a 150.58% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christopher Kenney sold 7,068 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $60.25, for a total value of $425,847.00. Following the sale, the insider directly owned 2 shares in the company, valued at $120.50. The trade was a 99.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 2.91% of the company’s stock.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing medicines for neurological disorders. The company’s research emphasizes ion channels, proteins that help regulate the electrical activity of nerve cells.

Its lead program is azetukalner, formerly known as XEN1101, an oral Kv7 potassium-channel opener being developed for seizure disorders, including focal epilepsy. Xenon is also advancing other drug candidates aimed at neurological conditions.

Founded in 1996, Xenon is headquartered in Burnaby, British Columbia, and conducts drug development activities in North America.