Castleark Management LLC Takes Position in Xenon Pharmaceuticals Inc. $XENE

Castleark Management LLC purchased a new position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 61,763 shares of the biopharmaceutical company’s stock, valued at approximately $3,728,000. Castleark Management LLC owned 0.06% of Xenon Pharmaceuticals at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of XENE. BlackRock Inc. bought a new stake in Xenon Pharmaceuticals in the 2nd quarter worth about $454,057,000. Holocene Advisors LP bought a new stake in shares of Xenon Pharmaceuticals during the 2nd quarter valued at $56,637,000. Wellington Management Group LLP increased its position in Xenon Pharmaceuticals by 66.0% in the third 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 in the last quarter. Price T Rowe Associates Inc. MD increased 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 acquiring an additional 820,608 shares in the last quarter. Finally, Vestal Point Capital LP increased its stake in shares of Xenon Pharmaceuticals by 53.8% in the second quarter. Vestal Point Capital LP now owns 2,000,000 shares of the biopharmaceutical company’s stock worth $62,600,000 after purchasing an additional 700,000 shares in the last quarter. Institutional investors own 95.45% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on XENE. HC Wainwright reissued a “buy” rating and set a $74.00 price objective on shares of Xenon Pharmaceuticals in a report on Monday, August 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research note on Monday, July 6th. Royal Bank Of Canada decreased their target price on Xenon Pharmaceuticals from $82.00 to $81.00 and set an “outperform” rating for the company in a research report on Friday, August 7th. Needham & Company LLC cut their price target on Xenon Pharmaceuticals from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Finally, JPMorgan Chase & Co. raised their price target on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the company an “overweight” rating in a report on Wednesday, May 27th. Two equities 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 stock. According to MarketBeat.com, Xenon Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $77.13.

Xenon Pharmaceuticals Stock Down 0.2%

XENE opened at $60.42 on Wednesday. The company has a 50-day moving average price of $62.65 and a 200 day moving average price of $56.05. Xenon Pharmaceuticals Inc. has a twelve month low of $35.60 and a twelve month high of $72.66. The company has a market cap of $5.84 billion, a PE ratio of -12.75 and a beta of 0.62.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.11) earnings per share for the quarter, topping the consensus estimate of ($1.16) by $0.05. During the same period last year, the firm earned ($1.07) EPS. As a group, sell-side analysts expect that Xenon Pharmaceuticals Inc. will post -4.73 earnings per share for the current year.

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 on Friday, June 5th. The stock was sold at an average price of $53.14, for a total value of $63,236.60. Following the sale, the director owned 1,455 shares in the company, valued at approximately $77,318.70. The trade was a 44.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven Gannon sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $64.06, for a total transaction of $640,600.00. Following the completion of the transaction, the director directly owned 1,870 shares of the company’s stock, valued at $119,792.20. This represents a 84.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 12,512 shares of company stock valued at $774,088 over the last quarter. 2.91% of the stock is owned by company insiders.

Xenon Pharmaceuticals 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.