Loomis Sayles & Co. L P Acquires 46,964 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Loomis Sayles & Co. L P lifted its holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 7.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 707,222 shares of the biopharmaceutical company’s stock after buying an additional 46,964 shares during the period. Loomis Sayles & Co. L P’s holdings in Xenon Pharmaceuticals were worth $27,843,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in XENE. Logos Global Management LP bought a new stake in Xenon Pharmaceuticals during the second quarter worth approximately $14,621,000. Ikarian Capital LLC boosted its holdings in shares of Xenon Pharmaceuticals by 169.6% in the 1st quarter. Ikarian Capital LLC now owns 107,187 shares of the biopharmaceutical company’s stock worth $4,614,000 after purchasing an additional 261,276 shares during the period. Artal Group S.A. bought a new position in shares of Xenon Pharmaceuticals during the 1st quarter valued at approximately $10,908,000. Samlyn Capital LLC increased its position in shares of Xenon Pharmaceuticals by 61.5% during the 2nd quarter. Samlyn Capital LLC now owns 639,685 shares of the biopharmaceutical company’s stock valued at $24,941,000 after purchasing an additional 243,489 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in Xenon Pharmaceuticals by 74.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 482,022 shares of the biopharmaceutical company’s stock valued at $18,794,000 after buying an additional 206,163 shares during the period. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Xenon Pharmaceuticals news, Director Gary Patou sold 4,891 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $41.08, for a total transaction of $200,922.28. Following the sale, the director now owns 23,573 shares of the company’s stock, valued at approximately $968,378.84. This trade represents a 17.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.52% of the stock is currently owned by insiders.

Xenon Pharmaceuticals Stock Performance

Shares of Xenon Pharmaceuticals stock opened at $41.68 on Tuesday. Xenon Pharmaceuticals Inc. has a 12 month low of $29.00 and a 12 month high of $50.99. The stock’s fifty day moving average price is $41.26 and its 200-day moving average price is $40.19.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) EPS for the quarter, beating the consensus estimate of ($0.82) by $0.01. During the same quarter in the prior year, the business posted ($0.73) earnings per share. On average, equities research analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on XENE. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 price objective 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 target on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th. William Blair raised shares of Xenon Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a research note on Tuesday, September 3rd. Finally, Wedbush decreased their price target on Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. 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.com, the company currently has a consensus rating of “Buy” and an average target price of $57.45.

About Xenon Pharmaceuticals

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.