DnB Asset Management AS Grows Stock Holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

DnB Asset Management AS grew its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 6.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 203,243 shares of the biopharmaceutical company's stock after buying an additional 12,620 shares during the quarter. DnB Asset Management AS owned 0.27% of Xenon Pharmaceuticals worth $7,967,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. increased its stake in Xenon Pharmaceuticals by 140.3% in the fourth quarter. Blue Trust Inc. now owns 2,422 shares of the biopharmaceutical company's stock valued at $95,000 after purchasing an additional 1,414 shares during the last quarter. Avior Wealth Management LLC acquired a new position in Xenon Pharmaceuticals in the 4th quarter valued at about $101,000. KBC Group NV lifted its position in Xenon Pharmaceuticals by 39.8% during the 4th quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company's stock worth $107,000 after acquiring an additional 780 shares during the period. Magnetar Financial LLC acquired a new stake in Xenon Pharmaceuticals during the 4th quarter worth approximately $210,000. Finally, HighMark Wealth Management LLC increased its holdings in shares of Xenon Pharmaceuticals by 22.0% in the fourth quarter. HighMark Wealth Management LLC now owns 6,100 shares of the biopharmaceutical company's stock valued at $239,000 after purchasing an additional 1,100 shares during the period. 95.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on XENE. William Blair restated an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. Royal Bank of Canada restated an "outperform" rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. StockNews.com raised Xenon Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday. Deutsche Bank Aktiengesellschaft began coverage on Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They set a "buy" rating and a $67.00 price target for the company. Finally, HC Wainwright restated a "buy" rating and issued a $53.00 price objective on shares of Xenon Pharmaceuticals in a research report on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $57.38.

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Insider Transactions at Xenon Pharmaceuticals

In related news, CEO Ian Mortimer sold 22,468 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $40.20, for a total value of $903,213.60. Following the transaction, the chief executive officer now directly owns 31,302 shares of the company's stock, valued at approximately $1,258,340.40. This trade represents a 41.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 5.52% of the company's stock.

Xenon Pharmaceuticals Stock Up 2.8 %

Shares of XENE stock traded up $0.86 during mid-day trading on Wednesday, hitting $31.50. 973,195 shares of the company's stock were exchanged, compared to its average volume of 401,246. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of -11.17 and a beta of 1.26. Xenon Pharmaceuticals Inc. has a fifty-two week low of $30.38 and a fifty-two week high of $46.00. The stock has a 50-day simple moving average of $37.45 and a two-hundred day simple moving average of $39.63.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last released its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share for the quarter, topping the consensus estimate of ($0.89) by $0.05. As a group, analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current fiscal year.

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.