DNB Asset Management AS Acquires 23,750 Shares of Xenon Pharmaceuticals Inc. $XENE

Key Points

• DNB Asset Management AS boosted its Xenon Pharmaceuticals stake by 9.5% in the fourth quarter, buying 23,750 shares and bringing its total to 272,831 shares worth about $12.2 million.
• Institutional ownership remains very high at 95.45% of Xenon’s stock, with other major investors like Goldman Sachs and Alliancebernstein also increasing their positions.
• Analysts are generally bullish on Xenon Pharmaceuticals, with a consensus rating of “Buy” and an average price target of $77.07, though the stock closed at $54.39 and the company continues to post losses.

DNB Asset Management AS increased its holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 9.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 272,831 shares of the biopharmaceutical company's stock after buying an additional 23,750 shares during the period. DNB Asset Management AS owned about 0.35% of Xenon Pharmaceuticals worth $12,228,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of XENE. Goldman Sachs Group Inc. raised its stake in Xenon Pharmaceuticals by 7.9% in the first quarter. Goldman Sachs Group Inc. now owns 442,732 shares of the biopharmaceutical company's stock worth $14,854,000 after buying an additional 32,486 shares in the last quarter. Jump Financial LLC bought a new position in Xenon Pharmaceuticals in the second quarter worth approximately $532,000. Sei Investments Co. bought a new position in Xenon Pharmaceuticals in the second quarter worth approximately $711,000. The Manufacturers Life Insurance Company bought a new position in Xenon Pharmaceuticals in the second quarter worth approximately $816,000. Finally, Alliancebernstein L.P. raised its stake in Xenon Pharmaceuticals by 14.2% in the second quarter. Alliancebernstein L.P. now owns 1,518,527 shares of the biopharmaceutical company's stock worth $47,530,000 after buying an additional 189,141 shares in the last quarter. Institutional investors own 95.45% of the company's stock.

Xenon Pharmaceuticals Stock Performance

NASDAQ XENE opened at $54.39 on Monday. The firm's fifty day simple moving average is $56.07 and its two-hundred day simple moving average is $47.19. Xenon Pharmaceuticals Inc. has a 12-month low of $28.19 and a 12-month high of $63.95. The firm has a market capitalization of $5.26 billion, a P/E ratio of -11.57 and a beta of 0.65.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.17) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($1.17). During the same quarter in the previous year, the business earned ($0.83) earnings per share. As a group, sell-side analysts predict that Xenon Pharmaceuticals Inc. will post -4.88 earnings per share for the current fiscal year.

Insider Activity at Xenon Pharmaceuticals

In related news, insider Andrea Difabio sold 2,607 shares of the company's stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $60.11, for a total value of $156,706.77. Following the transaction, the insider directly owned 4,893 shares of the company's stock, valued at $294,118.23. This represents a 34.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher John Kenney sold 2,771 shares of the company's stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $60.11, for a total value of $166,564.81. Following the completion of the transaction, the insider directly owned 4,729 shares in the company, valued at approximately $284,260.19. The trade was a 36.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 296,707 shares of company stock valued at $17,845,365 in the last ninety days. Company insiders own 4.07% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Wedbush cut their price target on shares of Xenon Pharmaceuticals from $64.00 to $63.00 and set an "outperform" rating on the stock in a report on Monday, March 16th. Jefferies Financial Group set a $100.00 price target on shares of Xenon Pharmaceuticals in a report on Monday, March 9th. Needham & Company LLC cut their price target on shares of Xenon Pharmaceuticals from $80.00 to $78.00 and set a "buy" rating on the stock in a report on Friday, May 8th. Wolfe Research assumed coverage on shares of Xenon Pharmaceuticals in a report on Monday, February 23rd. They issued an "outperform" rating and a $60.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Xenon Pharmaceuticals from $56.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, March 10th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Xenon Pharmaceuticals has an average rating of "Buy" and a consensus target price of $77.07.

Xenon Pharmaceuticals Company Profile

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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