Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. reduced its stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 565,915 shares of the biopharmaceutical company's stock after selling 12,950 shares during the quarter. Franklin Resources Inc. owned 0.74% of Xenon Pharmaceuticals worth $23,633,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of XENE. Janus Henderson Group PLC boosted its position in shares of Xenon Pharmaceuticals by 144.2% in the 3rd quarter. Janus Henderson Group PLC now owns 2,552,392 shares of the biopharmaceutical company's stock worth $100,506,000 after buying an additional 1,507,135 shares in the last quarter. Logos Global Management LP acquired a new position in shares of Xenon Pharmaceuticals during the 2nd quarter worth approximately $14,621,000. Vestal Point Capital LP lifted its position in shares of 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 acquiring an additional 300,000 shares in the last quarter. Samlyn Capital LLC lifted its holdings in Xenon Pharmaceuticals by 61.5% in the 2nd quarter. Samlyn Capital LLC now owns 639,685 shares of the biopharmaceutical company's stock valued at $24,941,000 after purchasing an additional 243,489 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in shares of Xenon Pharmaceuticals by 74.7% during 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 buying an additional 206,163 shares during the period. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Xenon Pharmaceuticals Stock Down 0.7 %

Shares of NASDAQ XENE traded down $0.27 on Friday, hitting $38.63. The company had a trading volume of 1,054,236 shares, compared to its average volume of 391,447. Xenon Pharmaceuticals Inc. has a 12-month low of $35.53 and a 12-month high of $50.99. The firm has a market capitalization of $2.95 billion, a P/E ratio of -13.70 and a beta of 1.19. The business has a 50 day moving average of $41.90 and a two-hundred day moving average of $40.46.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, topping analysts' consensus estimates of ($0.82) by $0.01. During the same period in the previous year, the firm posted ($0.73) earnings per share. On average, sell-side analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

Insider Activity at Xenon Pharmaceuticals

In related news, CFO Sherry Aulin sold 18,709 shares of Xenon Pharmaceuticals stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $41.21, for a total value of $770,997.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gary Patou sold 4,891 shares of the company's stock in a transaction dated Friday, November 22nd. The shares were 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 owns 23,573 shares in the company, valued at approximately $968,378.84. This trade represents a 17.18 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.52% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on XENE. HC Wainwright reissued a "buy" rating and issued a $53.00 price target on shares of Xenon Pharmaceuticals in a research note on Thursday, December 12th. 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 Xenon Pharmaceuticals to a "strong-buy" rating in a research report on Friday, August 30th. Needham & Company LLC restated a "buy" rating and issued a $60.00 price objective on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th. Finally, Raymond James reiterated an "outperform" rating and set a $50.00 target price on shares of Xenon Pharmaceuticals in a report on Thursday, October 10th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $56.00.

Xenon Pharmaceuticals 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.