Oppenheimer & Co. Inc. acquired a new stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE – Free Report) 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.
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.
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