51,345 Shares in Xenon Pharmaceuticals Inc. $XENE Acquired by Palo Alto Investors LP

Key Points

• Palo Alto Investors LP acquired 51,345 shares of Xenon Pharmaceuticals worth approximately $3.1 billion, taking a roughly 0.05% stake. Institutional investors and hedge funds collectively own 95.45% of the company.
• Xenon reported a quarterly loss of $1.11 per share, which was $0.05 better than analysts’ expectations; analysts project a full-year loss of $4.73 per share.
• Despite some insider selling and mixed ratings, analysts maintain an overall “Buy” consensus, with an average price target of $77.13 versus the stock’s recent price of $61.93.

Palo Alto Investors LP acquired a new stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 51,345 shares of the biopharmaceutical company's stock, valued at approximately $3,099,184,000. Palo Alto Investors LP owned approximately 0.05% of Xenon Pharmaceuticals as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Danske Bank A S purchased a new position in shares of Xenon Pharmaceuticals during the third quarter valued at approximately $32,000. Kestra Advisory Services LLC purchased a new stake in Xenon Pharmaceuticals in the 4th quarter valued at $33,000. Osaic Holdings Inc. raised its position in Xenon Pharmaceuticals by 541.4% in the 2nd quarter. Osaic Holdings Inc. now owns 1,225 shares of the biopharmaceutical company's stock valued at $40,000 after buying an additional 1,034 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Xenon Pharmaceuticals during the 4th quarter valued at $43,000. Finally, Rockefeller Capital Management L.P. lifted its stake in Xenon Pharmaceuticals by 450.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,100 shares of the biopharmaceutical company's stock valued at $49,000 after acquiring an additional 900 shares in the last quarter. 95.45% of the stock is owned by institutional investors and hedge funds.

Xenon Pharmaceuticals Stock Performance

Shares of Xenon Pharmaceuticals stock opened at $61.93 on Friday. Xenon Pharmaceuticals Inc. has a 52-week low of $35.60 and a 52-week high of $72.66. The stock's 50-day simple moving average is $63.04 and its 200 day simple moving average is $56.36. The stock has a market capitalization of $5.99 billion, a P/E ratio of -13.07 and a beta of 0.62.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($1.11) earnings per share for the quarter, beating analysts' consensus estimates of ($1.16) by $0.05. During the same quarter in the previous year, the business earned ($1.07) earnings per share. Equities research analysts forecast that Xenon Pharmaceuticals Inc. will post -4.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Gillian Cannon sold 1,190 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $53.14, for a total transaction of $63,236.60. Following the transaction, the director directly owned 1,455 shares in the company, valued at approximately $77,318.70. This represents a 44.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gary Patou sold 1,322 shares of the business's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $53.14, for a total transaction of $70,251.08. Following the completion of the sale, the director owned 24,896 shares of the company's stock, valued at approximately $1,322,973.44. The trade was a 5.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 12,512 shares of company stock worth $774,088 in the last ninety days. 2.91% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on XENE. Needham & Company LLC cut their price objective on Xenon Pharmaceuticals from $80.00 to $78.00 and set a "buy" rating on the stock in a research report on Friday, May 8th. Wall Street Zen raised Xenon Pharmaceuticals from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 1st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Xenon Pharmaceuticals in a research note on Monday, July 6th. Royal Bank Of Canada lowered their target price on Xenon Pharmaceuticals from $82.00 to $81.00 and set an "outperform" rating on the stock in a research note on Friday, August 7th. Finally, HC Wainwright reissued a "buy" rating and issued a $74.00 price target on shares of Xenon Pharmaceuticals in a report on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $77.13.

About Xenon Pharmaceuticals

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.

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