Moran Wealth Management LLC Buys 1,317 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Moran Wealth Management LLC boosted its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 1.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 68,930 shares of the biopharmaceutical company’s stock after acquiring an additional 1,317 shares during the period. Moran Wealth Management LLC owned 0.11% of Xenon Pharmaceuticals worth $2,654,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Parallel Advisors LLC bought a new stake in Xenon Pharmaceuticals in the second quarter worth about $30,000. BNP Paribas Arbitrage SA increased its stake in shares of Xenon Pharmaceuticals by 1,567.5% in the first quarter. BNP Paribas Arbitrage SA now owns 1,334 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 1,254 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Xenon Pharmaceuticals by 124.6% in the fourth quarter. Wells Fargo & Company MN now owns 1,123 shares of the biopharmaceutical company’s stock worth $44,000 after purchasing an additional 623 shares in the last quarter. BNP Paribas Arbitrage SNC increased its stake in shares of Xenon Pharmaceuticals by 40.2% in the second quarter. BNP Paribas Arbitrage SNC now owns 1,441 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 413 shares in the last quarter. Finally, Advisors Asset Management Inc. purchased a new position in shares of Xenon Pharmaceuticals in the first quarter worth about $66,000. Institutional investors own 95.70% of the company’s stock.

Xenon Pharmaceuticals Stock Down 1.2 %

NASDAQ:XENE opened at $29.09 on Tuesday. The company has a fifty day moving average of $33.53 and a 200 day moving average of $37.20. Xenon Pharmaceuticals Inc. has a 52 week low of $27.99 and a 52 week high of $43.75. The firm has a market capitalization of $1.90 billion, a P/E ratio of -10.98 and a beta of 1.31.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.73) EPS for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.02. During the same quarter in the prior year, the business earned ($0.57) EPS. As a group, analysts anticipate that Xenon Pharmaceuticals Inc. will post -2.87 EPS for the current year.

Insider Activity at Xenon Pharmaceuticals

In other Xenon Pharmaceuticals news, Director Dawn Svoronos sold 25,000 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $38.70, for a total value of $967,500.00. Following the completion of the transaction, the director now directly owns 25,000 shares in the company, valued at approximately $967,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.43% of the stock is currently owned by company insiders.

Analyst Ratings Changes

XENE has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $51.00 price objective on shares of Xenon Pharmaceuticals in a research note on Friday, September 22nd. StockNews.com initiated coverage on shares of Xenon Pharmaceuticals in a research note on Thursday, October 5th. They set a “sell” rating for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Xenon Pharmaceuticals in a research note on Tuesday, October 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Xenon Pharmaceuticals in a research note on Thursday, August 10th. Finally, Wedbush cut their price target on shares of Xenon Pharmaceuticals from $47.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Xenon Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $52.75.

Xenon Pharmaceuticals Company 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.