The Manufacturers Life Insurance Company Invests $1.75 Million in Xenon Pharmaceuticals Inc. $XENE

The Manufacturers Life Insurance Company purchased a new stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 28,932 shares of the biopharmaceutical company's stock, valued at approximately $1,746,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Kestra Advisory Services LLC acquired a new position in Xenon Pharmaceuticals during the fourth quarter worth $33,000. Danske Bank A S acquired a new stake in shares of Xenon Pharmaceuticals in the third quarter worth about $32,000. Global Retirement Partners LLC bought a new stake in shares of Xenon Pharmaceuticals during the 2nd quarter worth about $53,000. Quantbot Technologies LP bought a new stake in shares of Xenon Pharmaceuticals during the 2nd quarter worth about $57,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Xenon Pharmaceuticals during the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 95.45% of the company's stock.

Xenon Pharmaceuticals Trading Up 0.4%

XENE opened at $60.40 on Friday. The business has a 50 day moving average of $63.56 and a 200-day moving average of $56.99. The stock has a market capitalization of $5.84 billion, a price-to-earnings ratio of -12.74 and a beta of 0.61. Xenon Pharmaceuticals Inc. has a 1-year low of $35.60 and a 1-year high of $72.66.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.11) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.16) by $0.05. During the same quarter in the prior year, the business posted ($1.07) EPS. Equities analysts predict that Xenon Pharmaceuticals Inc. will post -4.73 EPS for the current year.

Insider Activity

In other news, Director Steven Gannon sold 10,000 shares of the business's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $64.06, for a total transaction of $640,600.00. Following the transaction, the director owned 1,870 shares in the company, valued at approximately $119,792.20. The trade was a 84.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Christopher Kenney sold 7,068 shares of the company's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $60.25, for a total transaction of $425,847.00. Following the transaction, the insider directly owned 2 shares of the company's stock, valued at $120.50. This represents a 99.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 2.91% of the company's stock.

Wall Street Analyst Weigh In

XENE has been the subject of several analyst reports. HC Wainwright restated a "buy" rating and issued a $74.00 target price on shares of Xenon Pharmaceuticals in a report on Monday, August 10th. Royal Bank Of Canada lowered their price target on Xenon Pharmaceuticals from $82.00 to $81.00 and set an "outperform" rating on the stock in a report on Friday, August 7th. JPMorgan Chase & Co. lifted their price target on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the company an "overweight" rating in a research report on Wednesday, May 27th. Wall Street Zen upgraded shares of Xenon Pharmaceuticals from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 1st. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Xenon Pharmaceuticals in a report on Monday, July 6th. Two equities research 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's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus 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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