Skandinaviska Enskilda Banken AB publ Makes New $1.57 Million Investment in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Skandinaviska Enskilda Banken AB publ acquired a new position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 40,376 shares of the biopharmaceutical company’s stock, valued at approximately $1,574,000. Skandinaviska Enskilda Banken AB publ owned approximately 0.05% of Xenon Pharmaceuticals at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Avoro Capital Advisors LLC raised its holdings in Xenon Pharmaceuticals by 15.6% in the fourth quarter. Avoro Capital Advisors LLC now owns 5,666,666 shares of the biopharmaceutical company’s stock worth $261,007,000 after purchasing an additional 766,666 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Xenon Pharmaceuticals by 140.9% in the fourth quarter. Wellington Management Group LLP now owns 4,162,654 shares of the biopharmaceutical company’s stock worth $191,732,000 after acquiring an additional 2,434,546 shares during the last quarter. Capital World Investors grew its stake in shares of Xenon Pharmaceuticals by 17.9% in the fourth quarter. Capital World Investors now owns 2,681,537 shares of the biopharmaceutical company’s stock worth $123,512,000 after acquiring an additional 406,563 shares during the last quarter. Capital International Investors grew its stake in shares of Xenon Pharmaceuticals by 0.8% in the first quarter. Capital International Investors now owns 2,475,859 shares of the biopharmaceutical company’s stock worth $106,586,000 after acquiring an additional 20,176 shares during the last quarter. Finally, Commodore Capital LP grew its stake in shares of Xenon Pharmaceuticals by 17.5% in the fourth quarter. Commodore Capital LP now owns 2,167,793 shares of the biopharmaceutical company’s stock worth $99,849,000 after acquiring an additional 322,793 shares during the last quarter. Institutional investors own 95.45% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on XENE shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a research report on Tuesday, September 3rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 price target on shares of Xenon Pharmaceuticals in a report on Friday, August 9th. Wedbush lowered their price target on Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Needham & Company LLC decreased their price objective on Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Finally, William Blair raised Xenon Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Xenon Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $58.78.

Xenon Pharmaceuticals Stock Down 1.2 %

Shares of Xenon Pharmaceuticals stock opened at $39.65 on Tuesday. The stock’s fifty day moving average is $40.76 and its two-hundred day moving average is $40.54. The company has a market capitalization of $2.99 billion, a PE ratio of -14.63 and a beta of 1.25. Xenon Pharmaceuticals Inc. has a 52 week low of $27.99 and a 52 week high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.05). During the same quarter in the prior year, the company earned ($0.72) earnings per share. As a group, research analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.16 earnings per share for the current year.

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.