Fmr LLC Buys 149,511 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Fmr LLC boosted its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 2.2% in the third quarter, HoldingsChannel.com reports. The firm owned 6,917,684 shares of the biopharmaceutical company’s stock after acquiring an additional 149,511 shares during the period. Fmr LLC owned 0.09% of Xenon Pharmaceuticals worth $272,349,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Xenon Pharmaceuticals by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 335,635 shares of the biopharmaceutical company’s stock worth $14,449,000 after acquiring an additional 12,140 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of Xenon Pharmaceuticals by 87.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 10,032 shares of the biopharmaceutical company’s stock worth $432,000 after purchasing an additional 4,691 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Xenon Pharmaceuticals by 0.9% during the 1st quarter. California State Teachers Retirement System now owns 56,477 shares of the biopharmaceutical company’s stock valued at $2,431,000 after purchasing an additional 490 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Xenon Pharmaceuticals in the 1st quarter worth $287,000. Finally, DNB Asset Management AS grew its stake in Xenon Pharmaceuticals by 39.2% during the 2nd quarter. DNB Asset Management AS now owns 175,733 shares of the biopharmaceutical company’s stock worth $6,852,000 after buying an additional 49,483 shares during the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Stock Down 1.2 %

Shares of XENE opened at $42.63 on Monday. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of -15.12 and a beta of 1.25. Xenon Pharmaceuticals Inc. has a 52 week low of $35.18 and a 52 week high of $50.99. The stock’s 50-day moving average price is $41.47 and its 200-day moving average price is $40.25.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) EPS for the quarter, topping the consensus estimate of ($0.82) by $0.01. During the same period in the previous year, the business posted ($0.73) earnings per share. As a group, equities analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current fiscal year.

Insider Buying and Selling

In other Xenon Pharmaceuticals news, 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 value of $200,922.28. Following the completion of the transaction, the director now owns 23,573 shares in the company, valued at approximately $968,378.84. This represents a 17.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 5.52% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on XENE. Raymond James reissued an “outperform” rating and issued a $50.00 price target on shares of Xenon Pharmaceuticals in a report on Thursday, October 10th. William Blair raised shares of Xenon Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd. Wedbush dropped their price objective on shares of Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Finally, Needham & Company LLC restated a “buy” rating and issued a $60.00 target price on shares of Xenon Pharmaceuticals in a research note on Wednesday, November 13th. 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, the company currently has a consensus rating of “Buy” and an average price target of $57.45.

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.