Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Shares Purchased by Jennison Associates LLC

Jennison Associates LLC increased its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 164.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 566,396 shares of the biopharmaceutical company's stock after acquiring an additional 352,573 shares during the quarter. Jennison Associates LLC owned about 0.87% of Xenon Pharmaceuticals worth $26,088,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Braidwell LP grew its holdings in shares of Xenon Pharmaceuticals by 15.0% during the third quarter. Braidwell LP now owns 2,103,396 shares of the biopharmaceutical company's stock worth $71,852,000 after purchasing an additional 275,043 shares in the last quarter. Wellington Management Group LLP grew its holdings in Xenon Pharmaceuticals by 64.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,728,108 shares of the biopharmaceutical company's stock worth $59,032,000 after acquiring an additional 677,057 shares during the last quarter. Invesco Ltd. raised its stake in shares of Xenon Pharmaceuticals by 2.3% during the third quarter. Invesco Ltd. now owns 716,303 shares of the biopharmaceutical company's stock valued at $24,469,000 after acquiring an additional 16,318 shares during the last quarter. TimesSquare Capital Management LLC boosted its holdings in shares of Xenon Pharmaceuticals by 38.3% during the third quarter. TimesSquare Capital Management LLC now owns 590,575 shares of the biopharmaceutical company's stock worth $20,174,000 after purchasing an additional 163,650 shares during the period. Finally, Fiera Capital Corp grew its stake in shares of Xenon Pharmaceuticals by 2.0% in the third quarter. Fiera Capital Corp now owns 560,546 shares of the biopharmaceutical company's stock worth $19,148,000 after purchasing an additional 11,205 shares during the last quarter. 95.45% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Steven Gannon sold 13,000 shares of the firm's stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $46.28, for a total transaction of $601,640.00. Following the sale, the director now owns 2,000 shares of the company's stock, valued at approximately $92,560. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Sherrington Robin sold 7,137 shares of the company's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $46.28, for a total transaction of $330,300.36. Following the completion of the sale, the executive vice president now owns 8,398 shares in the company, valued at $388,659.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven Gannon sold 13,000 shares of the firm's stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $46.28, for a total transaction of $601,640.00. Following the completion of the transaction, the director now directly owns 2,000 shares in the company, valued at approximately $92,560. The disclosure for this sale can be found here. 5.43% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

XENE has been the topic of a number of research analyst reports. Royal Bank of Canada reduced their price objective on shares of Xenon Pharmaceuticals from $56.00 to $55.00 and set an "outperform" rating on the stock in a research report on Friday, March 1st. Citigroup started coverage on Xenon Pharmaceuticals in a research report on Thursday, January 4th. They set a "buy" rating and a $62.00 price objective on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $65.00 price target on shares of Xenon Pharmaceuticals in a research report on Wednesday, April 10th. Needham & Company LLC reissued a "buy" rating and set a $62.00 price objective on shares of Xenon Pharmaceuticals in a research report on Friday, April 12th. Finally, Bank of America upped their target price on shares of Xenon Pharmaceuticals from $52.00 to $56.00 and gave the stock a "buy" rating in a research report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Xenon Pharmaceuticals currently has an average rating of "Moderate Buy" and an average target price of $59.44.

Xenon Pharmaceuticals Trading Up 1.5 %

NASDAQ:XENE traded up $0.60 on Thursday, reaching $40.10. 255,970 shares of the stock traded hands, compared to its average volume of 399,092. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of -14.74 and a beta of 1.15. Xenon Pharmaceuticals Inc. has a 12 month low of $27.99 and a 12 month high of $50.99. The company's fifty day simple moving average is $44.12 and its 200 day simple moving average is $41.00.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its quarterly earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.64) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.12. During the same quarter in the prior year, the company posted ($0.57) EPS. Xenon Pharmaceuticals's revenue for the quarter was up .0% compared to the same quarter last year. Equities analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.04 EPS for the current fiscal year.

Xenon Pharmaceuticals Profile

Xenon Pharmaceuticals Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN496, a Kv7 potassium channel opener that is Phase III clinical trials for the treatment of KCNQ2 developmental and epileptic encephalopathy; and XEN1101, a Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.