Erste Asset Management GmbH Acquires New Shares in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Erste Asset Management GmbH purchased a new stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 50,000 shares of the biopharmaceutical company's stock, valued at approximately $1,932,000. Erste Asset Management GmbH owned approximately 0.07% of Xenon Pharmaceuticals at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Blue Trust Inc. grew its holdings in Xenon Pharmaceuticals by 174.7% during the 3rd quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company's stock worth $39,000 after acquiring an additional 641 shares during the period. nVerses Capital LLC acquired a new position in shares of Xenon Pharmaceuticals in the 3rd quarter valued at $102,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Xenon Pharmaceuticals by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company's stock valued at $106,000 after buying an additional 487 shares during the period. Quarry LP lifted its position in Xenon Pharmaceuticals by 207.7% in the 2nd quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company's stock valued at $156,000 after acquiring an additional 2,700 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Xenon Pharmaceuticals in the 2nd quarter valued at $464,000. 95.45% of the stock is owned by institutional investors and hedge funds.

Xenon Pharmaceuticals Trading Up 0.8 %

XENE stock traded up $0.34 during trading hours on Wednesday, hitting $42.34. 281,117 shares of the stock were exchanged, compared to its average volume of 388,194. The firm has a market capitalization of $3.23 billion, a P/E ratio of -15.01 and a beta of 1.19. The company has a 50-day simple moving average of $41.66 and a two-hundred day simple moving average of $40.30. Xenon Pharmaceuticals Inc. has a 12 month low of $35.53 and a 12 month high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last posted its quarterly earnings data 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 period in the prior year, the firm posted ($0.73) EPS. On average, equities research analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

Insider Activity

In other news, Director Gary Patou sold 4,891 shares of the business's 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 completion of the transaction, the director now 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.52% of the company's stock.

Wall Street Analyst Weigh In

XENE has been the topic of several research reports. Wedbush cut their price objective 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. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $55.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday, September 3rd. William Blair raised shares of Xenon Pharmaceuticals to a "strong-buy" rating in a research report on Friday, August 30th. Raymond James reaffirmed 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 reaffirmed an "overweight" rating and set a $65.00 price target 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Xenon Pharmaceuticals currently has an average rating of "Buy" and a consensus price target of $57.45.

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.