Redmile Group LLC Purchases 128,792 Shares of Xenon Pharmaceuticals Inc. $XENE

Redmile Group LLC raised its holdings in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 96.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 262,674 shares of the biopharmaceutical company’s stock after purchasing an additional 128,792 shares during the quarter. Xenon Pharmaceuticals makes up approximately 1.0% of Redmile Group LLC’s portfolio, making the stock its 17th largest holding. Redmile Group LLC owned 0.27% of Xenon Pharmaceuticals worth $15,274,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Holocene Advisors LP bought a new stake in shares of Xenon Pharmaceuticals in the second quarter valued at approximately $56,637,000. Wellington Management Group LLP boosted its holdings in Xenon Pharmaceuticals by 66.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,609,857 shares of the biopharmaceutical company’s stock worth $144,936,000 after buying an additional 1,435,096 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Xenon Pharmaceuticals by 1,968.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 862,300 shares of the biopharmaceutical company’s stock worth $38,650,000 after buying an additional 820,608 shares during the period. Vestal Point Capital LP grew its stake in Xenon Pharmaceuticals by 53.8% in the 2nd quarter. Vestal Point Capital LP now owns 2,000,000 shares of the biopharmaceutical company’s stock valued at $62,600,000 after buying an additional 700,000 shares in the last quarter. Finally, Commodore Capital LP raised its holdings in Xenon Pharmaceuticals by 30.1% during the 2nd quarter. Commodore Capital LP now owns 3,025,000 shares of the biopharmaceutical company’s stock valued at $94,682,000 after acquiring an additional 700,000 shares during the period. Institutional investors own 95.45% of the company’s stock.

Insider Buying and Selling at Xenon Pharmaceuticals

In related news, Director Gillian Cannon sold 1,190 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $53.14, for a total transaction of $63,236.60. Following the completion of the transaction, the director directly owned 1,455 shares in the company, valued at $77,318.70. The trade was a 44.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary Patou sold 1,322 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $53.14, for a total value of $70,251.08. Following the completion of the transaction, the director owned 24,896 shares in the company, valued at $1,322,973.44. This represents a 5.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.91% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on XENE shares. Weiss Ratings restated a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research report on Monday, July 6th. JPMorgan Chase & Co. lifted their price target on Xenon Pharmaceuticals from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Wednesday, May 27th. Needham & Company LLC decreased their price objective on Xenon Pharmaceuticals from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Royal Bank Of Canada increased their price objective on Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $69.00 target price on shares of Xenon Pharmaceuticals in a research note on Sunday, May 10th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Xenon Pharmaceuticals has an average rating of “Buy” and an average price target of $77.20.

Xenon Pharmaceuticals Price Performance

NASDAQ XENE opened at $64.94 on Wednesday. The company’s 50 day simple moving average is $58.76 and its two-hundred day simple moving average is $53.03. Xenon Pharmaceuticals Inc. has a 1 year low of $30.00 and a 1 year high of $72.66. The stock has a market capitalization of $6.28 billion, a PE ratio of -13.82 and a beta of 0.61.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.17) EPS for the quarter, meeting analysts’ consensus estimates of ($1.17). During the same quarter in the previous year, the business earned ($0.83) EPS. On average, research analysts anticipate that Xenon Pharmaceuticals Inc. will post -4.92 EPS for the current year.

Xenon Pharmaceuticals Company Profile

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.