State Street Corp Buys 32,701 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

State Street Corp grew its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 13.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 279,513 shares of the biopharmaceutical company’s stock after acquiring an additional 32,701 shares during the quarter. State Street Corp’s holdings in Xenon Pharmaceuticals were worth $11,004,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. increased its stake in Xenon Pharmaceuticals by 174.7% in the third quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 641 shares in the last quarter. 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. increased its position 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 in the last quarter. Quarry LP raised its stake in Xenon Pharmaceuticals by 207.7% during the 2nd quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock worth $156,000 after buying an additional 2,700 shares during the period. Finally, XTX Topco Ltd bought a new position in Xenon Pharmaceuticals during the second quarter worth about $464,000. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Sherry Aulin sold 18,709 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $41.21, for a total transaction of $770,997.89. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Gary Patou sold 4,891 shares of the firm’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 of the company’s stock, valued at $968,378.84. This trade represents a 17.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.52% of the company’s stock.

Xenon Pharmaceuticals Trading Up 0.7 %

Shares of XENE stock opened at $38.42 on Thursday. The firm’s fifty day moving average price is $41.73 and its two-hundred day moving average price is $40.50. Xenon Pharmaceuticals Inc. has a 1 year low of $35.53 and a 1 year high of $50.99. The firm has a market capitalization of $2.93 billion, a P/E ratio of -13.62 and a beta of 1.19.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.01. During the same period last year, the company posted ($0.73) earnings per share. As a group, equities research analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price target on shares of Xenon Pharmaceuticals in a research report on Wednesday, November 13th. William Blair upgraded shares of Xenon Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Raymond James reiterated an “outperform” rating and issued a $50.00 price target on shares of Xenon Pharmaceuticals in a report on Thursday, October 10th. Royal Bank of Canada restated an “outperform” rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a research note on Thursday, December 12th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target 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.