Xenon Pharmaceuticals (NASDAQ:XENE) Sets New 52-Week High – Here’s Why

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) hit a new 52-week high on Monday . The stock traded as high as $50.00 and last traded at $43.7750, with a volume of 636 shares changing hands. The stock had previously closed at $44.49.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on XENE shares. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, November 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a report on Tuesday, October 14th. JPMorgan Chase & Co. lifted their price objective on Xenon Pharmaceuticals from $57.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, November 18th. Chardan Capital upgraded shares of Xenon Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, November 19th. Finally, William Blair reaffirmed an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Tuesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $54.64.

Xenon Pharmaceuticals Price Performance

The stock has a market cap of $3.33 billion, a PE ratio of -11.21 and a beta of 0.97. The firm has a 50-day moving average of $42.66 and a 200-day moving average of $38.39.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings data on Monday, November 3rd. The biopharmaceutical company reported ($1.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.16) by $0.01. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.81) EPS. Equities analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current fiscal year.

Insider Buying and Selling

In other Xenon Pharmaceuticals news, CEO Ian Mortimer sold 40,000 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $44.43, for a total value of $1,777,200.00. Following the completion of the sale, the chief executive officer owned 6,000 shares of the company’s stock, valued at approximately $266,580. This trade represents a 86.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 65,302 shares of company stock valued at $2,924,128 in the last three months. Company insiders own 4.07% of the company’s stock.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Holocene Advisors LP acquired a new stake in Xenon Pharmaceuticals during the 2nd quarter valued at approximately $56,637,000. Wellington Management Group LLP lifted its stake in Xenon Pharmaceuticals by 66.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,609,857 shares of the biopharmaceutical company’s stock valued at $144,936,000 after buying an additional 1,435,096 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Xenon Pharmaceuticals by 1,294.2% in the second quarter. Geode Capital Management LLC now owns 970,343 shares of the biopharmaceutical company’s stock worth $30,369,000 after acquiring an additional 900,746 shares during the last quarter. Braidwell LP grew its holdings in shares of Xenon Pharmaceuticals by 33.0% during the 2nd quarter. Braidwell LP now owns 3,605,029 shares of the biopharmaceutical company’s stock worth $112,837,000 after purchasing an additional 895,154 shares during the period. Finally, Vestal Point Capital LP boosted its position in shares of Xenon Pharmaceuticals by 53.8% during the second quarter. Vestal Point Capital LP now owns 2,000,000 shares of the biopharmaceutical company’s stock worth $62,600,000 after buying an additional 700,000 shares during the period. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals Inc is a clinical‐stage biopharmaceutical company dedicated to discovering and developing novel, small‐molecule drugs targeting ion channels in the central and peripheral nervous system. The company’s research focus centers on neurological and pain disorders—including epilepsy, migraine, and neuropathic pain—by modulating key ion‐channel proteins to restore normal neuronal function. Xenon’s scientific platform draws upon advances in ion‐channel biology and structure‐based drug design to identify and optimize therapeutic candidates with the potential for improved safety and efficacy profiles compared with existing treatments.

The company’s pipeline comprises multiple preclinical and clinical programs.