abrdn plc Buys 35,809 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

abrdn plc lifted its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 16.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 248,311 shares of the biopharmaceutical company's stock after purchasing an additional 35,809 shares during the quarter. abrdn plc owned about 0.33% of Xenon Pharmaceuticals worth $9,776,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Xenon Pharmaceuticals during the 1st quarter valued at $17,941,000. Affinity Asset Advisors LLC raised its position in Xenon Pharmaceuticals by 82.0% during the first quarter. Affinity Asset Advisors LLC now owns 837,387 shares of the biopharmaceutical company's stock valued at $36,050,000 after purchasing an additional 377,387 shares in the last quarter. Logos Global Management LP purchased a new stake in Xenon Pharmaceuticals during the second quarter valued at about $14,621,000. Ikarian Capital LLC lifted its stake in Xenon Pharmaceuticals by 169.6% during the first quarter. Ikarian Capital LLC now owns 107,187 shares of the biopharmaceutical company's stock worth $4,614,000 after purchasing an additional 261,276 shares during the last quarter. Finally, Artal Group S.A. purchased a new position in shares of Xenon Pharmaceuticals in the 1st quarter worth about $10,908,000. Hedge funds and other institutional investors own 95.45% of the company's stock.

Xenon Pharmaceuticals Trading Up 1.4 %

Shares of XENE stock traded up $0.58 during trading hours on Friday, reaching $41.69. The company's stock had a trading volume of 291,442 shares, compared to its average volume of 359,538. Xenon Pharmaceuticals Inc. has a one year low of $27.99 and a one year high of $50.99. The stock has a market capitalization of $3.16 billion, a P/E ratio of -15.22 and a beta of 1.25. The firm's fifty day simple moving average is $40.61 and its 200 day simple moving average is $40.15.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.05). During the same quarter last year, the company posted ($0.72) EPS. As a group, equities research analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

XENE has been the subject of a number of recent research reports. Wedbush dropped their target price on Xenon Pharmaceuticals from $50.00 to $49.00 and set an "outperform" rating for the company in a research report on Friday, August 9th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $65.00 price objective on shares of Xenon Pharmaceuticals in a research note on Friday, August 9th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd. HC Wainwright initiated coverage on shares of Xenon Pharmaceuticals in a research note on Tuesday, October 1st. They issued a "buy" rating and a $53.00 price target for the company. Finally, Needham & Company LLC reduced their price objective on Xenon Pharmaceuticals from $62.00 to $60.00 and set a "buy" rating on the stock in a research note on Monday, August 12th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average 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.