Key Points
- CEO Ian Mortimer sold 40,000 shares of Xenon Pharmaceuticals on January 2 at an average price of $44.43 for $1,777,200, leaving him with 6,000 shares—a reported 86.96% reduction in his stake (disclosed via an SEC filing).
- Mortimer has been selling repeatedly in recent weeks, including sales on Dec. 8 (10,830 shares at $45.73), Dec. 5 (14,375 shares at $45.03) and Nov. 28 (97 shares at $45.01), indicating a pattern of insider selling.
- Despite the insider sales, Wall Street remains broadly positive on XENE, with most analysts holding Buy/Strong Buy ratings and a consensus target price of $54.64, while the stock trades around $44.49 and the company has a market cap of about $3.44 billion.
Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Get Free Report) CEO Ian Mortimer sold 40,000 shares of Xenon Pharmaceuticals stock in a transaction that occurred on Friday, January 2nd. The shares were 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 directly owned 6,000 shares in the company, valued at $266,580. This represents a 86.96% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Ian Mortimer also recently made the following trade(s):
- On Monday, December 8th, Ian Mortimer sold 10,830 shares of Xenon Pharmaceuticals stock. The shares were sold at an average price of $45.73, for a total transaction of $495,255.90.
- On Friday, December 5th, Ian Mortimer sold 14,375 shares of Xenon Pharmaceuticals stock. The stock was sold at an average price of $45.03, for a total transaction of $647,306.25.
- On Friday, November 28th, Ian Mortimer sold 97 shares of Xenon Pharmaceuticals stock. The shares were sold at an average price of $45.01, for a total value of $4,365.97.
Xenon Pharmaceuticals Stock Performance
Shares of NASDAQ:XENE opened at $44.49 on Friday. Xenon Pharmaceuticals Inc. has a one year low of $26.74 and a one year high of $46.60. The stock has a market cap of $3.44 billion, a PE ratio of -11.44 and a beta of 1.03. The business's fifty day moving average price is $42.66 and its two-hundred day moving average price is $38.30.
Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last posted its quarterly earnings data on Monday, November 3rd. The biopharmaceutical company reported ($1.15) EPS for the quarter, topping analysts' consensus estimates of ($1.16) by $0.01. The business's revenue for the quarter was up .0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.81) EPS. As a group, equities research analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of XENE. JPMorgan Chase & Co. grew its stake in shares of Xenon Pharmaceuticals by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 1,399,033 shares of the biopharmaceutical company's stock valued at $56,171,000 after buying an additional 142,452 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new stake in shares of Xenon Pharmaceuticals during the third quarter valued at approximately $325,000. Danske Bank A S acquired a new position in shares of Xenon Pharmaceuticals during the third quarter worth $32,000. Verition Fund Management LLC purchased a new position in shares of Xenon Pharmaceuticals in the third quarter valued at $2,293,000. Finally, Quarry LP grew its holdings in Xenon Pharmaceuticals by 25.0% during the 3rd quarter. Quarry LP now owns 2,500 shares of the biopharmaceutical company's stock valued at $100,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 95.45% of the company's stock.
Wall Street Analysts Forecast Growth
XENE has been the subject of several analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a report on Tuesday, November 4th. Chardan Capital upgraded Xenon Pharmaceuticals to a "strong-buy" rating in a research report on Wednesday, November 19th. JPMorgan Chase & Co. raised their price target on Xenon Pharmaceuticals from $57.00 to $60.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 18th. Royal Bank Of Canada upped their price objective on shares of Xenon Pharmaceuticals from $55.00 to $58.00 and gave the company an "outperform" rating in a research note on Tuesday, November 4th. Finally, Wells Fargo & Company raised their target price on shares of Xenon Pharmaceuticals from $44.00 to $48.00 and gave the stock an "overweight" rating in a research report on Thursday, December 11th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $54.64.
Get Our Latest Stock Analysis on Xenon Pharmaceuticals
Xenon Pharmaceuticals Company Profile
(
Get Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
