Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) shot up 9.1% during mid-day trading on Friday after an insider bought additional shares in the company. The company traded as high as $2.60 and last traded at $2.40. 521,456 shares were traded during trading, an increase of 457% from the average session volume of 93,559 shares. The stock had previously closed at $2.20.
Specifically, Director Mohammad Azab purchased 15,000 shares of the stock in a transaction dated Wednesday, November 15th. The shares were purchased at an average cost of $2.22 per share, with a total value of $33,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 9.40% of the company’s stock.
A number of brokerages have recently issued reports on XENE. Zacks Investment Research raised shares of Xenon Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, September 21st. Jefferies Group LLC set a $5.00 price target on shares of Xenon Pharmaceuticals and gave the stock a “buy” rating in a report on Friday, August 4th.
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Xenon Pharmaceuticals Company Profile
Xenon Pharmaceuticals Inc is a Canada-based clinical-stage biopharmaceutical company. It is engaged in discovering and developing a pipeline of differentiated therapeutics for orphan indications. Its product pipeline includes: Glybera, TV-45070, GDC-0310, XEN901 (Nav1.6 inhibitor) and XEN1101. Glybera is used for the treatment of lipoprotein lipase deficiency (LPLD).
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