Xenon Pharmaceuticals Inc. $XENE Stock Position Decreased by Knott David M Jr

Knott David M Jr lessened its stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 30.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,962 shares of the biopharmaceutical company’s stock after selling 4,904 shares during the period. Knott David M Jr’s holdings in Xenon Pharmaceuticals were worth $343,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of XENE. Farther Finance Advisors LLC purchased a new position in shares of Xenon Pharmaceuticals in the second quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Xenon Pharmaceuticals in the 1st quarter valued at approximately $30,000. Amalgamated Bank acquired a new position in Xenon Pharmaceuticals in the 2nd quarter worth approximately $81,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Xenon Pharmaceuticals by 15.7% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,964 shares of the biopharmaceutical company’s stock worth $93,000 after purchasing an additional 403 shares during the period. Finally, Vident Advisory LLC grew its position in Xenon Pharmaceuticals by 21.4% during the 1st quarter. Vident Advisory LLC now owns 6,574 shares of the biopharmaceutical company’s stock worth $221,000 after purchasing an additional 1,161 shares in the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on XENE shares. Chardan Capital restated a “buy” rating and issued a $55.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, October 7th. William Blair restated an “outperform” rating on shares of Xenon Pharmaceuticals in a research report on Tuesday, October 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $55.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, November 4th. Royal Bank Of Canada raised their price target on shares of Xenon Pharmaceuticals from $55.00 to $58.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. Finally, Wedbush upped their price objective on shares of Xenon Pharmaceuticals from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.70.

Xenon Pharmaceuticals Stock Up 1.8%

Shares of XENE opened at $40.76 on Monday. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of -11.48 and a beta of 1.10. The company’s fifty day moving average is $39.47 and its 200-day moving average is $35.51. Xenon Pharmaceuticals Inc. has a 12 month low of $26.74 and a 12 month high of $44.23.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings data on Monday, November 3rd. The biopharmaceutical company reported ($1.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.16) by $0.01. Xenon Pharmaceuticals’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.81) earnings per share. As a group, research analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Ian Mortimer sold 25,000 shares of the stock in a transaction dated Wednesday, October 1st. The stock was 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 of the company’s stock, valued at approximately $1,257,088.32. This represents a 44.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.07% of the company’s stock.

Xenon Pharmaceuticals Company Profile

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.