Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 17.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,274 shares of the biopharmaceutical company’s stock after buying an additional 2,866 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Xenon Pharmaceuticals were worth $756,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in Xenon Pharmaceuticals by 140.3% in the fourth quarter. Blue Trust Inc. now owns 2,422 shares of the biopharmaceutical company’s stock worth $95,000 after purchasing an additional 1,414 shares during the period. Avior Wealth Management LLC acquired a new position in Xenon Pharmaceuticals in the fourth quarter worth $101,000. KBC Group NV boosted its holdings in Xenon Pharmaceuticals by 39.8% in the fourth quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 780 shares during the period. HighMark Wealth Management LLC boosted its holdings in Xenon Pharmaceuticals by 22.0% in the fourth quarter. HighMark Wealth Management LLC now owns 6,100 shares of the biopharmaceutical company’s stock worth $239,000 after purchasing an additional 1,100 shares during the period. Finally, Vestcor Inc acquired a new position in Xenon Pharmaceuticals in the third quarter worth $327,000. Institutional investors and hedge funds own 95.45% of the company’s stock.

Insider Activity at Xenon Pharmaceuticals

In related news, CEO Ian Mortimer sold 16,315 shares of Xenon Pharmaceuticals stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $40.50, for a total transaction of $660,757.50. Following the sale, the chief executive officer now directly owns 31,302 shares in the company, valued at $1,267,731. The trade was a 34.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.52% of the company’s stock.

Xenon Pharmaceuticals Stock Up 1.4 %

Shares of NASDAQ XENE opened at $35.34 on Friday. Xenon Pharmaceuticals Inc. has a fifty-two week low of $33.27 and a fifty-two week high of $46.00. The firm’s 50-day simple moving average is $38.14 and its 200 day simple moving average is $39.88. The stock has a market cap of $2.71 billion, a P/E ratio of -12.53 and a beta of 1.26.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.05. On average, sell-side analysts anticipate 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 research reports. William Blair reaffirmed an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. Royal Bank of Canada reiterated an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft assumed coverage on Xenon Pharmaceuticals in a research note on Tuesday, February 11th. They issued a “buy” rating and a $67.00 target price on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a research note on Monday, February 24th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $57.38.

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.