Oppenheimer & Co. Inc. Invests $451,000 in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Oppenheimer & Co. Inc. acquired a new stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 12,615 shares of the biopharmaceutical company’s stock, valued at approximately $451,000.

Other large investors also recently modified their holdings of the company. BNP Paribas Arbitrage SA increased its position in shares of Xenon Pharmaceuticals by 1,567.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,334 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 1,254 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Xenon Pharmaceuticals by 124.6% in the 4th quarter. Wells Fargo & Company MN now owns 1,123 shares of the biopharmaceutical company’s stock valued at $44,000 after purchasing an additional 623 shares during the last quarter. Advisors Asset Management Inc. purchased a new stake in shares of Xenon Pharmaceuticals in the 1st quarter valued at approximately $66,000. UBS Group AG grew its position in shares of Xenon Pharmaceuticals by 102.1% in the 2nd quarter. UBS Group AG now owns 2,472 shares of the biopharmaceutical company’s stock valued at $76,000 after buying an additional 1,249 shares during the last quarter. Finally, Deutsche Bank AG purchased a new position in shares of Xenon Pharmaceuticals in the 4th quarter valued at $98,000. 95.70% of the stock is owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Stock Performance

XENE stock opened at $38.57 on Wednesday. Xenon Pharmaceuticals Inc. has a one year low of $31.79 and a one year high of $43.75. The company has a fifty day moving average of $38.01 and a 200-day moving average of $38.28.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.03). During the same period in the prior year, the business posted ($0.55) EPS. The company’s revenue for the quarter was down 100.0% compared to the same quarter last year. As a group, equities analysts anticipate that Xenon Pharmaceuticals Inc. will post -2.89 earnings per share for the current fiscal year.

Insider Activity at Xenon Pharmaceuticals

In related news, Director Dawn Svoronos sold 25,000 shares of the firm’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $38.70, for a total value of $967,500.00. Following the completion of the sale, the director now owns 25,000 shares in the company, valued at $967,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.43% of the company’s stock.

Wall Street Analysts Forecast Growth

XENE has been the topic of a number of recent analyst reports. StockNews.com initiated coverage on shares of Xenon Pharmaceuticals in a research report on Thursday, August 17th. They issued a “sell” rating on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $58.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday, August 22nd. Stifel Nicolaus increased their target price on shares of Xenon Pharmaceuticals from $52.00 to $53.00 in a research report on Wednesday, May 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Xenon Pharmaceuticals in a research report on Thursday, August 10th. Finally, Wedbush reissued an “outperform” rating and set a $47.00 price objective on shares of Xenon Pharmaceuticals in a research report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $52.40.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN496, a Kv7 potassium channel opener that is Phase III clinical trials for the treatment of KCNQ2 developmental and epileptic encephalopathy; and XEN1101, a Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.