Xenon Pharmaceuticals (NASDAQ:XENE) Issues Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Xenon Pharmaceuticals (NASDAQ:XENE) posted its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.84) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.89) by $0.05, Zacks reports.

Xenon Pharmaceuticals Stock Performance

Xenon Pharmaceuticals stock traded down $0.79 during midday trading on Thursday, reaching $38.31. The stock had a trading volume of 372,341 shares, compared to its average volume of 416,985. The firm’s fifty day simple moving average is $39.31 and its 200-day simple moving average is $40.33. Xenon Pharmaceuticals has a 1-year low of $35.53 and a 1-year high of $50.99. The stock has a market capitalization of $2.92 billion, a P/E ratio of -13.59 and a beta of 1.20.

Insider Activity at Xenon Pharmaceuticals

In other news, CFO Sherry Aulin sold 18,709 shares of Xenon Pharmaceuticals stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $41.21, for a total transaction of $770,997.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ian Mortimer sold 16,315 shares of Xenon Pharmaceuticals stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $40.50, for a total value of $660,757.50. Following the transaction, the chief executive officer now owns 31,302 shares of the company’s stock, valued at $1,267,731. This represents a 34.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 57,492 shares of company stock valued at $2,334,969. 5.52% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on XENE. Deutsche Bank Aktiengesellschaft began coverage on Xenon Pharmaceuticals in a research note on Tuesday, February 11th. They issued a “buy” rating and a $67.00 target price on the stock. HC Wainwright reissued a “buy” rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a research note on Monday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $60.00 target price on shares of Xenon Pharmaceuticals in a research note on Wednesday, November 13th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $57.38.

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.