Intech Investment Management LLC Acquires Shares of 34,312 Xenon Pharmaceuticals Inc. $XENE

Intech Investment Management LLC bought a new position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) in the 2nd quarter, HoldingsChannel reports. The fund bought 34,312 shares of the biopharmaceutical company’s stock, valued at approximately $1,074,000.

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

Insider Buying and Selling

In other Xenon Pharmaceuticals news, CEO Ian Mortimer sold 25,000 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 31,302 shares of the company’s stock, valued at approximately $1,257,088.32. This represents 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 this link. Insiders own 4.07% of the company’s stock.

Xenon Pharmaceuticals Stock Performance

XENE opened at $42.05 on Tuesday. Xenon Pharmaceuticals Inc. has a fifty-two week low of $26.74 and a fifty-two week high of $44.23. The firm has a 50-day moving average of $39.93 and a 200 day moving average of $35.69. The firm has a market cap of $3.25 billion, a P/E ratio of -11.85 and a beta of 1.10.

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on XENE shares. Cantor Fitzgerald restated an “overweight” rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a research note on Tuesday, November 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research report on Tuesday, October 14th. JPMorgan Chase & Co. boosted their price target on shares of Xenon Pharmaceuticals from $57.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, November 18th. William Blair reiterated an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Tuesday, October 7th. Finally, Chardan Capital raised shares of Xenon Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, November 19th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Xenon Pharmaceuticals has a consensus rating of “Buy” and an average price target of $54.27.

Xenon Pharmaceuticals 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.