BNP PARIBAS ASSET MANAGEMENT Holding S.A. Purchases 17,953 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 4.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 439,074 shares of the biopharmaceutical company's stock after purchasing an additional 17,953 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.58% of Xenon Pharmaceuticals worth $17,287,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on XENE. Needham & Company LLC reaffirmed a "buy" rating and set a $60.00 price target on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th. Royal Bank of Canada restated an "outperform" rating and issued a $55.00 target price on shares of Xenon Pharmaceuticals in a research note on Tuesday, September 3rd. Wedbush reduced their price target 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. Raymond James restated an "outperform" rating and issued a $50.00 price objective on shares of Xenon Pharmaceuticals in a research report on Thursday, October 10th. Finally, William Blair raised shares of Xenon Pharmaceuticals to a "strong-buy" rating in a research note on Friday, August 30th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $57.45.

Insider Buying and Selling

In related news, Director Gary Patou sold 4,891 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 23,573 shares of the company's stock, valued at approximately $968,378.84. This represents a 17.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.52% of the stock is currently owned by company insiders.

Xenon Pharmaceuticals Trading Up 3.4 %

Shares of NASDAQ:XENE traded up $1.35 during mid-day trading on Friday, reaching $41.15. The stock had a trading volume of 335,421 shares, compared to its average volume of 402,210. The firm has a 50 day simple moving average of $41.23 and a two-hundred day simple moving average of $40.21. Xenon Pharmaceuticals Inc. has a twelve month low of $28.20 and a twelve month high of $50.99. The firm has a market cap of $3.14 billion, a PE ratio of -14.59 and a beta of 1.25.

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