Putnam Investments LLC grew its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE – Free Report) by 0.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 153,455 shares of the biopharmaceutical company’s stock after buying an additional 795 shares during the quarter. Putnam Investments LLC owned 0.24% of Xenon Pharmaceuticals worth $5,492,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Wells Fargo & Company MN lifted its stake in Xenon Pharmaceuticals by 124.6% in the fourth quarter. Wells Fargo & Company MN now owns 1,123 shares of the biopharmaceutical company’s stock worth $44,000 after acquiring an additional 623 shares during the period. BNP Paribas Arbitrage SA boosted its stake in shares of Xenon Pharmaceuticals by 1,567.5% during the first 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 in the last quarter. Cubist Systematic Strategies LLC increased its holdings in Xenon Pharmaceuticals by 1,004.5% during the first quarter. Cubist Systematic Strategies LLC now owns 1,955 shares of the biopharmaceutical company’s stock valued at $70,000 after buying an additional 1,778 shares during the period. Advisors Asset Management Inc. bought a new position in Xenon Pharmaceuticals in the first quarter worth approximately $66,000. Finally, Dark Forest Capital Management LP purchased a new stake in Xenon Pharmaceuticals during the first quarter worth $88,000. Institutional investors own 95.70% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on XENE shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $58.00 price target on shares of Xenon Pharmaceuticals in a report on Tuesday, August 22nd. StockNews.com raised shares of Xenon Pharmaceuticals to a “sell” rating in a research report on Saturday. Needham & Company LLC restated a “buy” rating and issued a $50.00 price target on shares of Xenon Pharmaceuticals in a report on Thursday, August 10th. Finally, Wedbush reiterated an “outperform” rating and set a $47.00 price objective on shares of Xenon Pharmaceuticals in a research note on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Xenon Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $52.40.
Xenon Pharmaceuticals Trading Up 0.5 %
NASDAQ XENE opened at $36.86 on Friday. Xenon Pharmaceuticals Inc. has a 12-month low of $31.79 and a 12-month high of $43.75. The company has a fifty day simple moving average of $37.73 and a two-hundred day simple moving average of $38.26. The stock has a market cap of $2.36 billion, a P/E ratio of -14.80 and a beta of 1.34.
Xenon Pharmaceuticals (NASDAQ:XENE – Get Free Report) last issued its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.03). During the same period in the prior year, the firm posted ($0.55) earnings per share. The business’s revenue for the quarter was down 100.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Xenon Pharmaceuticals Inc. will post -2.89 earnings per share for the current year.
Insider Transactions at Xenon Pharmaceuticals
In related news, Director Dawn Svoronos sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $38.70, for a total value of $967,500.00. Following the sale, the director now owns 25,000 shares in the company, valued at $967,500. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 5.43% of the company’s stock.
About Xenon Pharmaceuticals
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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