Federated Hermes Inc. Invests $15.96 Million in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Federated Hermes Inc. bought a new stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 346,596 shares of the biopharmaceutical company’s stock, valued at approximately $15,964,000. Federated Hermes Inc. owned 0.53% of Xenon Pharmaceuticals as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in XENE. Walleye Capital LLC boosted its holdings in Xenon Pharmaceuticals by 40.5% during the third quarter. Walleye Capital LLC now owns 126,028 shares of the biopharmaceutical company’s stock valued at $4,305,000 after purchasing an additional 36,324 shares in the last quarter. Wellington Management Group LLP boosted its stake in Xenon Pharmaceuticals by 64.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,728,108 shares of the biopharmaceutical company’s stock valued at $59,032,000 after buying an additional 677,057 shares in the last quarter. TimesSquare Capital Management LLC grew its position in Xenon Pharmaceuticals by 38.3% in the third quarter. TimesSquare Capital Management LLC now owns 590,575 shares of the biopharmaceutical company’s stock valued at $20,174,000 after acquiring an additional 163,650 shares during the period. Barclays PLC raised its stake in Xenon Pharmaceuticals by 3.7% during the third quarter. Barclays PLC now owns 9,521 shares of the biopharmaceutical company’s stock worth $324,000 after acquiring an additional 342 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Xenon Pharmaceuticals by 22.2% during the third quarter. Exchange Traded Concepts LLC now owns 3,967 shares of the biopharmaceutical company’s stock valued at $136,000 after acquiring an additional 720 shares during the period. Institutional investors and hedge funds own 95.45% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on XENE. Royal Bank of Canada lowered their target price on shares of Xenon Pharmaceuticals from $56.00 to $55.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. Citigroup assumed coverage on shares of Xenon Pharmaceuticals in a report on Thursday, January 4th. They set a “buy” rating and a $62.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 target price on shares of Xenon Pharmaceuticals in a report on Wednesday, April 10th. Wedbush raised their price target on Xenon Pharmaceuticals from $46.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $62.00 price objective on shares of Xenon Pharmaceuticals in a research note on Friday, April 12th. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.44.

Xenon Pharmaceuticals Stock Up 0.3 %

NASDAQ:XENE opened at $40.01 on Tuesday. The stock’s fifty day moving average price is $44.61 and its two-hundred day moving average price is $40.98. Xenon Pharmaceuticals Inc. has a 52-week low of $27.99 and a 52-week high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.64) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.12. Xenon Pharmaceuticals’s quarterly revenue was up .0% compared to the same quarter last year. During the same period last year, the business posted ($0.57) EPS. Analysts forecast that Xenon Pharmaceuticals Inc. will post -3.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Xenon Pharmaceuticals

In other news, Director Steven Gannon sold 13,000 shares of Xenon Pharmaceuticals stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $46.28, for a total transaction of $601,640.00. Following the completion of the sale, the director now owns 2,000 shares in the company, valued at approximately $92,560. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Xenon Pharmaceuticals news, EVP Sherrington Robin sold 7,137 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $46.28, for a total value of $330,300.36. Following the transaction, the executive vice president now owns 8,398 shares of the company’s stock, valued at $388,659.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven Gannon sold 13,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $46.28, for a total value of $601,640.00. Following the transaction, the director now owns 2,000 shares in the company, valued at approximately $92,560. The disclosure for this sale can be found here. Corporate 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.