DnB Asset Management AS Has $4.34 Million Position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

DnB Asset Management AS boosted its holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 13.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 112,629 shares of the biopharmaceutical company’s stock after buying an additional 13,770 shares during the period. DnB Asset Management AS owned approximately 0.18% of Xenon Pharmaceuticals worth $4,336,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of XENE. Natixis Advisors L.P. raised its holdings in Xenon Pharmaceuticals by 1.2% in the first quarter. Natixis Advisors L.P. now owns 21,741 shares of the biopharmaceutical company’s stock worth $778,000 after purchasing an additional 249 shares during the period. California State Teachers Retirement System raised its holdings in Xenon Pharmaceuticals by 0.8% in the third quarter. California State Teachers Retirement System now owns 39,347 shares of the biopharmaceutical company’s stock worth $1,420,000 after purchasing an additional 316 shares during the period. Stifel Financial Corp raised its holdings in Xenon Pharmaceuticals by 3.6% in the first quarter. Stifel Financial Corp now owns 10,304 shares of the biopharmaceutical company’s stock worth $369,000 after purchasing an additional 360 shares during the period. Arizona State Retirement System raised its holdings in Xenon Pharmaceuticals by 3.1% in the first quarter. Arizona State Retirement System now owns 13,591 shares of the biopharmaceutical company’s stock worth $486,000 after purchasing an additional 414 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Xenon Pharmaceuticals by 0.8% during the first quarter. Geode Capital Management LLC now owns 55,725 shares of the biopharmaceutical company’s stock worth $1,994,000 after acquiring an additional 440 shares during the period. 95.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. StockNews.com upgraded shares of Xenon Pharmaceuticals to a “sell” rating in a report on Saturday. Cantor Fitzgerald restated an “overweight” rating and set a $58.00 price objective on shares of Xenon Pharmaceuticals in a report on Tuesday, August 22nd. Wedbush restated an “outperform” rating and set a $47.00 price objective on shares of Xenon Pharmaceuticals in a report on Thursday, August 10th. Finally, Needham & Company LLC restated a “buy” rating and set a $50.00 price objective on shares of Xenon Pharmaceuticals in a report 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.40.

Xenon Pharmaceuticals Price Performance

Shares of XENE opened at $36.86 on Monday. The firm has a 50-day moving average of $37.73 and a 200-day moving average of $38.24. Xenon Pharmaceuticals Inc. has a one year low of $31.79 and a one year high of $43.75. The company has a market cap of $2.36 billion, a PE ratio of -14.80 and a beta of 1.34.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.03). During the same quarter in the prior year, the company earned ($0.55) EPS. The company’s revenue for the quarter was down 100.0% on a year-over-year basis. Analysts expect that Xenon Pharmaceuticals Inc. will post -2.89 earnings per share for the current year.

Insider Activity

In other news, Director Dawn Svoronos sold 25,000 shares of Xenon Pharmaceuticals 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 transaction, the director now owns 25,000 shares of the company’s stock, valued at approximately $967,500. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 5.43% of the company’s stock.

Xenon Pharmaceuticals 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.