HighMark Wealth Management LLC Has $817,000 Holdings in Xenon Pharmaceuticals Inc. $XENE

Key Points

• HighMark Wealth Management LLC significantly increased its position in Xenon Pharmaceuticals by 327.9% during the second quarter, holding shares valued at $817,000 at the end of the reporting period.
• Several analysts maintain a positive outlook on Xenon Pharmaceuticals, with a consensus Buy rating and an average price target of $53.30 for the stock.
• Xenon Pharmaceuticals reported a loss of ($1.07) EPS for the last quarter, missing the consensus estimate of ($1.03) EPS, highlighting ongoing challenges in its financial performance.

HighMark Wealth Management LLC increased its position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 327.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,100 shares of the biopharmaceutical company's stock after purchasing an additional 20,000 shares during the quarter. HighMark Wealth Management LLC's holdings in Xenon Pharmaceuticals were worth $817,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of XENE. GF Fund Management CO. LTD. raised its position in shares of Xenon Pharmaceuticals by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 1,952 shares of the biopharmaceutical company's stock valued at $65,000 after buying an additional 351 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in 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 valued at $93,000 after purchasing an additional 403 shares in the last quarter. Natixis Advisors LLC lifted its stake in Xenon Pharmaceuticals by 1.9% during the first quarter. Natixis Advisors LLC now owns 24,010 shares of the biopharmaceutical company's stock worth $806,000 after purchasing an additional 456 shares during the last quarter. Farther Finance Advisors LLC acquired a new stake in shares of Xenon Pharmaceuticals in the 2nd quarter valued at $25,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Xenon Pharmaceuticals in the 1st quarter valued at $30,000. 95.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Chardan Capital restated a "buy" rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a research report on Tuesday, August 12th. Wells Fargo & Company initiated coverage on shares of Xenon Pharmaceuticals in a research note on Wednesday, September 3rd. They issued an "overweight" rating and a $48.00 price target on the stock. Wedbush lifted their price target on shares of Xenon Pharmaceuticals from $42.00 to $43.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $55.00 price objective on shares of Xenon Pharmaceuticals in a research note on Tuesday, September 2nd. Eleven investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $53.30.

Xenon Pharmaceuticals Trading Up 0.2%

NASDAQ:XENE opened at $39.20 on Friday. The stock's 50-day moving average is $36.54 and its 200-day moving average is $34.03. Xenon Pharmaceuticals Inc. has a 1-year low of $26.74 and a 1-year high of $46.00. The stock has a market cap of $3.02 billion, a P/E ratio of -11.04 and a beta of 1.14.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last posted its earnings results on Monday, August 11th. The biopharmaceutical company reported ($1.07) EPS for the quarter, missing the consensus estimate of ($1.03) by ($0.04). During the same period last year, the business posted ($0.75) EPS. As a group, equities analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current year.

Insider Activity at Xenon Pharmaceuticals

In other news, CEO Ian Mortimer sold 25,000 shares of Xenon Pharmaceuticals stock in a transaction on Wednesday, October 1st. The shares were 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 in the company, valued at approximately $1,257,088.32. The trade was a 44.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.07% of the company's stock.

About Xenon Pharmaceuticals

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.

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