BlackRock Inc. bought a new position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 7,522,482 shares of the biopharmaceutical company's stock, valued at approximately $454,057,000. BlackRock Inc. owned about 7.78% of Xenon Pharmaceuticals at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of XENE. Goldman Sachs Group Inc. boosted its holdings in Xenon Pharmaceuticals by 7.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 442,732 shares of the biopharmaceutical company's stock valued at $14,854,000 after purchasing an additional 32,486 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Xenon Pharmaceuticals in the second quarter valued at $532,000. Sei Investments Co. purchased a new stake in Xenon Pharmaceuticals during the second quarter worth about $711,000. The Manufacturers Life Insurance Company purchased a new stake in Xenon Pharmaceuticals during the 2nd quarter worth approximately $816,000. Finally, Alliancebernstein L.P. increased its position in shares of Xenon Pharmaceuticals by 14.2% during the second quarter. Alliancebernstein L.P. now owns 1,518,527 shares of the biopharmaceutical company's stock worth $47,530,000 after acquiring an additional 189,141 shares during the period. Institutional investors and hedge funds own 95.45% of the company's stock.
Xenon Pharmaceuticals Stock Down 0.3%
Shares of NASDAQ:XENE opened at $60.56 on Tuesday. Xenon Pharmaceuticals Inc. has a 52-week low of $35.60 and a 52-week high of $72.66. The company has a market capitalization of $5.85 billion, a P/E ratio of -12.78 and a beta of 0.62. The stock's fifty day simple moving average is $62.48 and its 200-day simple moving average is $55.92.
Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.11) EPS for the quarter, topping analysts' consensus estimates of ($1.16) by $0.05. During the same quarter in the previous year, the company earned ($1.07) EPS. On average, sell-side analysts anticipate that Xenon Pharmaceuticals Inc. will post -4.73 earnings per share for the current year.
Insider Buying and Selling at Xenon Pharmaceuticals
In other news, Director Gary Patou sold 1,322 shares of the business's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $53.14, for a total transaction of $70,251.08. Following the completion of the sale, the director directly owned 24,896 shares of the company's stock, valued at $1,322,973.44. The trade was a 5.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gillian Cannon sold 1,190 shares of the company's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $53.14, for a total value of $63,236.60. Following the sale, the director owned 1,455 shares of the company's stock, valued at $77,318.70. This represents a 44.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 12,512 shares of company stock worth $774,088 in the last 90 days. 2.91% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on XENE. Wells Fargo & Company restated an "overweight" rating and issued a $69.00 price objective on shares of Xenon Pharmaceuticals in a report on Sunday, May 10th. JPMorgan Chase & Co. increased their price objective on Xenon Pharmaceuticals from $80.00 to $82.00 and gave the company an "overweight" rating in a report on Wednesday, May 27th. Weiss Ratings reissued a "sell (d-)" rating on shares of Xenon Pharmaceuticals in a report on Monday, July 6th. HC Wainwright reissued a "buy" rating and issued a $74.00 price objective on shares of Xenon Pharmaceuticals in a research note on Monday, August 10th. Finally, Royal Bank Of Canada cut their target price on Xenon Pharmaceuticals from $82.00 to $81.00 and set an "outperform" rating for the company in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $77.13.
Read Our Latest Report on XENE
About Xenon Pharmaceuticals
(
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.
See Also
Want to see what other hedge funds are holding XENE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report).
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