Jennison Associates LLC Boosts Holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Jennison Associates LLC raised its stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 576,661 shares of the biopharmaceutical company’s stock after buying an additional 6,389 shares during the quarter. Jennison Associates LLC’s holdings in Xenon Pharmaceuticals were worth $22,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of XENE. Harbor Capital Advisors Inc. grew its stake in Xenon Pharmaceuticals by 647.8% during the second quarter. Harbor Capital Advisors Inc. now owns 24,116 shares of the biopharmaceutical company’s stock valued at $940,000 after acquiring an additional 20,891 shares in the last quarter. DNB Asset Management AS boosted its holdings in shares of Xenon Pharmaceuticals by 39.2% during the 2nd quarter. DNB Asset Management AS now owns 175,733 shares of the biopharmaceutical company’s stock valued at $6,852,000 after purchasing an additional 49,483 shares during the last quarter. Driehaus Capital Management LLC grew its position in shares of Xenon Pharmaceuticals by 2.3% during the second quarter. Driehaus Capital Management LLC now owns 4,419,472 shares of the biopharmaceutical company’s stock valued at $172,315,000 after purchasing an additional 97,732 shares in the last quarter. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Xenon Pharmaceuticals in the second quarter worth about $1,574,000. Finally, Blue Trust Inc. lifted its position in shares of Xenon Pharmaceuticals by 174.7% in the third quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 641 shares in the last quarter. Institutional investors own 95.45% of the company’s stock.

Insider Activity

In related news, Director Gary Patou sold 4,891 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $41.08, for a total value of $200,922.28. Following the completion of the sale, the director now owns 23,573 shares in the company, valued at approximately $968,378.84. The trade was a 17.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on XENE. HC Wainwright restated a “buy” rating and set a $53.00 price target on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th. Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 price target on shares of Xenon Pharmaceuticals in a research report on Friday, August 9th. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price objective on shares of Xenon Pharmaceuticals in a research report on Wednesday, November 13th. William Blair upgraded shares of Xenon Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday, September 3rd. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $57.45.

Xenon Pharmaceuticals Price Performance

Shares of NASDAQ:XENE opened at $41.15 on Friday. The firm has a market capitalization of $3.14 billion, a PE ratio of -14.59 and a beta of 1.25. The business has a 50 day simple moving average of $41.22 and a two-hundred day simple moving average of $40.25. Xenon Pharmaceuticals Inc. has a 1 year low of $28.20 and a 1 year high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.01. During the same period in the previous year, the firm posted ($0.73) EPS. Equities research analysts expect that Xenon Pharmaceuticals Inc. will post -3.12 EPS for the current fiscal year.

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.