HighMark Wealth Management LLC Buys 20,000 Shares of Xenon Pharmaceuticals Inc. $XENE

HighMark Wealth Management LLC increased its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 327.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,100 shares of the biopharmaceutical company’s stock after acquiring 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.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. GF Fund Management CO. LTD. raised its holdings in Xenon Pharmaceuticals by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 1,952 shares of the biopharmaceutical company’s stock worth $65,000 after purchasing an additional 351 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of 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 worth $93,000 after buying an additional 403 shares during the period. Natixis Advisors LLC raised 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 buying an additional 456 shares during the last quarter. Farther Finance Advisors LLC acquired a new position in Xenon Pharmaceuticals in the second quarter valued at $25,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Xenon Pharmaceuticals in the first quarter valued at $30,000. Institutional investors and hedge funds own 95.45% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Xenon Pharmaceuticals news, CEO Ian Mortimer sold 25,000 shares of the business’s 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 completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 4.07% of the company’s stock.

Xenon Pharmaceuticals Stock Performance

Shares of NASDAQ:XENE opened at $39.20 on Friday. Xenon Pharmaceuticals Inc. has a 52-week low of $26.74 and a 52-week high of $46.00. The business’s 50 day simple moving average is $36.54 and its two-hundred day simple moving average is $34.03. The firm 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) last released its quarterly earnings data 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 quarter in the previous year, the company posted ($0.75) earnings per share. On average, equities analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current fiscal year.

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.