Bank of New York Mellon Corp Raises Stock Position in Xenon Pharmaceuticals Inc. $XENE

Bank of New York Mellon Corp lifted its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 73.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 436,020 shares of the biopharmaceutical company’s stock after buying an additional 184,873 shares during the period. Bank of New York Mellon Corp owned approximately 0.57% of Xenon Pharmaceuticals worth $13,647,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC purchased a new position in shares of Xenon Pharmaceuticals during the second quarter worth about $25,000. Caitong International Asset Management Co. Ltd purchased a new position in Xenon Pharmaceuticals during the 1st quarter worth approximately $30,000. Amalgamated Bank acquired a new position in Xenon Pharmaceuticals during the second quarter worth approximately $81,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Xenon Pharmaceuticals by 15.7% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,964 shares of the biopharmaceutical company’s stock valued at $93,000 after buying an additional 403 shares during the last quarter. Finally, Vident Advisory LLC boosted its holdings in shares of Xenon Pharmaceuticals by 21.4% in the first quarter. Vident Advisory LLC now owns 6,574 shares of the biopharmaceutical company’s stock valued at $221,000 after acquiring an additional 1,161 shares during the period. 95.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

XENE has been the subject of several research reports. Bloom Burton upgraded shares of Xenon Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, October 7th. Wells Fargo & Company reiterated an “overweight” rating and set a $44.00 target price (down previously from $48.00) on shares of Xenon Pharmaceuticals in a research note on Tuesday, November 4th. William Blair restated an “outperform” rating on shares of Xenon Pharmaceuticals in a research report on Tuesday, October 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a research report on Tuesday, November 4th. Finally, JPMorgan Chase & Co. lifted their target price on Xenon Pharmaceuticals from $57.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Xenon Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.27.

Insider Activity at Xenon Pharmaceuticals

In other news, CEO Ian Mortimer sold 25,000 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $40.16, for a total transaction of $1,004,000.00. Following the transaction, the chief executive officer directly owned 31,302 shares of the company’s stock, valued at $1,257,088.32. This represents a 44.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 4.07% of the company’s stock.

Xenon Pharmaceuticals Stock Performance

Shares of XENE opened at $40.61 on Wednesday. The stock’s 50 day moving average is $39.58 and its two-hundred day moving average is $35.55. Xenon Pharmaceuticals Inc. has a twelve month low of $26.74 and a twelve month high of $44.23. The firm has a market capitalization of $3.14 billion, a PE ratio of -11.44 and a beta of 1.10.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its earnings results on Monday, November 3rd. The biopharmaceutical company reported ($1.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.16) by $0.01. During the same period in the previous year, the company earned ($0.81) EPS. The company’s quarterly revenue was up .0% on a year-over-year basis. On average, sell-side analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current year.

Xenon Pharmaceuticals Profile

Xenon Pharmaceuticals Inc, a neuroscience-focused biopharmaceutical company, engages in the development of therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN1101, a novel and potent Kv7 potassium channel opener, which is in Phase 3 clinical trials for the treatment of epilepsy and other neurological disorders.