Aberdeen Group plc increased its holdings in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 29.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 521,492 shares of the biopharmaceutical company's stock after purchasing an additional 117,338 shares during the quarter. Aberdeen Group plc owned approximately 0.68% of Xenon Pharmaceuticals worth $16,323,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. HighMark Wealth Management LLC lifted its stake in Xenon Pharmaceuticals by 327.9% during the second quarter. HighMark Wealth Management LLC now owns 26,100 shares of the biopharmaceutical company's stock worth $817,000 after purchasing an additional 20,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Xenon Pharmaceuticals by 15.7% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,964 shares of the biopharmaceutical company's stock worth $93,000 after acquiring an additional 403 shares during the last quarter. J. Safra Sarasin Holding AG increased its holdings in shares of Xenon Pharmaceuticals by 168.4% in the 2nd quarter. J. Safra Sarasin Holding AG now owns 82,048 shares of the biopharmaceutical company's stock valued at $2,568,000 after acquiring an additional 51,475 shares during the period. Farther Finance Advisors LLC acquired a new position in shares of Xenon Pharmaceuticals in the 2nd quarter valued at $25,000. Finally, Assenagon Asset Management S.A. raised its position in Xenon Pharmaceuticals by 81.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 436,974 shares of the biopharmaceutical company's stock valued at $13,677,000 after purchasing an additional 195,768 shares during the last quarter. Hedge funds and other institutional investors own 95.45% of the company's stock.
Insiders Place Their Bets
In related news, CEO Ian Mortimer sold 25,000 shares of the company's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $40.16, for a total transaction of $1,004,000.00. Following the transaction, the chief executive officer owned 31,302 shares of the company's stock, valued at $1,257,088.32. This represents a 44.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 4.07% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Several analysts recently commented on the stock. William Blair reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a research report on Tuesday, October 7th. Bloom Burton upgraded shares of Xenon Pharmaceuticals to a "strong-buy" rating in a research report on Tuesday, October 7th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Xenon Pharmaceuticals in a research report on Tuesday. Wedbush upped their price target on shares of Xenon Pharmaceuticals from $42.00 to $43.00 and gave the company an "outperform" rating in a research report on Tuesday, August 12th. Finally, Chardan Capital reiterated a "buy" rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a research report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Xenon Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus target price of $53.67.
Get Our Latest Stock Report on XENE
Xenon Pharmaceuticals Trading Up 1.5%
NASDAQ:XENE opened at $40.57 on Wednesday. The firm has a market cap of $3.13 billion, a P/E ratio of -11.43 and a beta of 1.14. The stock's 50 day simple moving average is $37.89 and its 200-day simple moving average is $34.30. Xenon Pharmaceuticals Inc. has a 12-month low of $26.74 and a 12-month high of $46.00.
Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last released its earnings results on Monday, August 11th. The biopharmaceutical company reported ($1.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.03) by ($0.04). During the same quarter last year, the business earned ($0.75) earnings per share. Research analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current fiscal year.
Xenon Pharmaceuticals Profile
(
Free Report)
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.
Further Reading
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