Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Shares Acquired by Braidwell LP

Braidwell LP lifted its stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 5.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,707,255 shares of the biopharmaceutical company’s stock after purchasing an additional 146,682 shares during the quarter. Xenon Pharmaceuticals accounts for approximately 3.0% of Braidwell LP’s investment portfolio, making the stock its 7th biggest holding. Braidwell LP’s holdings in Xenon Pharmaceuticals were worth $106,585,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. FMR LLC raised its holdings in shares of Xenon Pharmaceuticals by 2.2% during the third quarter. FMR LLC now owns 6,917,684 shares of the biopharmaceutical company’s stock worth $272,349,000 after purchasing an additional 149,511 shares during the last quarter. Driehaus Capital Management LLC increased its holdings in Xenon Pharmaceuticals by 2.3% in 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 buying an additional 97,732 shares in the last quarter. Affinity Asset Advisors LLC increased its holdings in Xenon Pharmaceuticals by 18.7% in the second quarter. Affinity Asset Advisors LLC now owns 994,227 shares of the biopharmaceutical company’s stock valued at $38,765,000 after buying an additional 156,840 shares in the last quarter. Vestal Point Capital LP increased its holdings in Xenon Pharmaceuticals by 57.1% in the third quarter. Vestal Point Capital LP now owns 825,000 shares of the biopharmaceutical company’s stock valued at $32,480,000 after buying an additional 300,000 shares in the last quarter. Finally, TimesSquare Capital Management LLC increased its holdings in Xenon Pharmaceuticals by 3.2% in the third quarter. TimesSquare Capital Management LLC now owns 778,293 shares of the biopharmaceutical company’s stock valued at $30,641,000 after buying an additional 23,800 shares in the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Insider Buying and Selling at Xenon Pharmaceuticals

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

Analyst Upgrades and Downgrades

XENE has been the subject of a number of recent analyst reports. William Blair raised shares of Xenon Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Wedbush dropped their target price on shares of Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. HC Wainwright reiterated a “buy” rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a research report on Wednesday, November 13th. Raymond James reiterated an “outperform” rating and issued a $50.00 target price on shares of Xenon Pharmaceuticals in a research report on Thursday, October 10th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 target price on shares of Xenon Pharmaceuticals in a research report on Friday, August 9th. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $57.45.

Xenon Pharmaceuticals Price Performance

NASDAQ:XENE opened at $43.15 on Friday. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of -15.30 and a beta of 1.25. The company’s 50-day moving average is $41.42 and its two-hundred day moving average is $40.24. Xenon Pharmaceuticals Inc. has a 1-year low of $33.62 and a 1-year high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, beating the consensus estimate of ($0.82) by $0.01. During the same quarter last year, the business earned ($0.73) earnings per share. As a group, equities analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share 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.