Prudential Financial Inc. lifted its holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 177.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 39,000 shares of the biopharmaceutical company's stock after purchasing an additional 24,956 shares during the quarter. Prudential Financial Inc. owned 0.05% of Xenon Pharmaceuticals worth $1,529,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of XENE. KLP Kapitalforvaltning AS bought a new stake in Xenon Pharmaceuticals in the fourth quarter worth $502,000. Magnetar Financial LLC bought a new stake in Xenon Pharmaceuticals in the fourth quarter worth $210,000. Teacher Retirement System of Texas lifted its position in shares of Xenon Pharmaceuticals by 18.6% during the fourth quarter. Teacher Retirement System of Texas now owns 19,083 shares of the biopharmaceutical company's stock worth $748,000 after purchasing an additional 2,994 shares during the last quarter. Swiss National Bank lifted its position in shares of Xenon Pharmaceuticals by 1.0% during the fourth quarter. Swiss National Bank now owns 126,600 shares of the biopharmaceutical company's stock worth $4,963,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Xenon Pharmaceuticals by 17.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,274 shares of the biopharmaceutical company's stock worth $756,000 after purchasing an additional 2,866 shares during the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on XENE shares. Deutsche Bank Aktiengesellschaft started coverage on Xenon Pharmaceuticals in a report on Tuesday, February 11th. They issued a "buy" rating and a $67.00 price objective for the company. StockNews.com lowered Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Sunday. William Blair restated an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. HC Wainwright reiterated a "buy" rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a research report on Monday, February 24th. Finally, Royal Bank of Canada reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $57.38.
Get Our Latest Research Report on XENE
Insider Activity
In related news, CEO Ian Mortimer sold 16,315 shares of the business's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $40.50, for a total value of $660,757.50. Following the transaction, the chief executive officer now owns 31,302 shares in the company, valued at approximately $1,267,731. The trade was a 34.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 5.52% of the company's stock.
Xenon Pharmaceuticals Price Performance
Shares of XENE stock traded down $1.71 during midday trading on Thursday, hitting $29.88. The company had a trading volume of 151,691 shares, compared to its average volume of 534,546. The company's 50 day simple moving average is $35.89 and its 200 day simple moving average is $39.08. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of -10.60 and a beta of 1.21. Xenon Pharmaceuticals Inc. has a 52-week low of $26.74 and a 52-week high of $46.00.
Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.89) by $0.05. Analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current year.
About Xenon Pharmaceuticals
(
Free Report)
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.
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