State Street Corp Buys 32,701 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

State Street Corp raised its stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 13.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 279,513 shares of the biopharmaceutical company’s stock after purchasing an additional 32,701 shares during the quarter. State Street Corp owned 0.37% of Xenon Pharmaceuticals worth $11,004,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in XENE. Blue Trust Inc. increased its stake in Xenon Pharmaceuticals by 174.7% during the third quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 641 shares during the period. nVerses Capital LLC bought a new stake in shares of Xenon Pharmaceuticals during the third quarter valued at approximately $102,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Xenon Pharmaceuticals by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company’s stock valued at $106,000 after purchasing an additional 487 shares in the last quarter. Quarry LP lifted its position in Xenon Pharmaceuticals by 207.7% in the second quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock worth $156,000 after purchasing an additional 2,700 shares during the period. Finally, XTX Topco Ltd bought a new stake in Xenon Pharmaceuticals in the 2nd quarter valued at $464,000. Institutional investors and hedge funds own 95.45% of the company’s stock.

Xenon Pharmaceuticals Stock Performance

Shares of NASDAQ:XENE opened at $38.42 on Thursday. The business has a fifty day moving average of $41.73 and a 200-day moving average of $40.50. Xenon Pharmaceuticals Inc. has a twelve month low of $35.53 and a twelve month high of $50.99. The firm has a market cap of $2.93 billion, a PE ratio of -13.62 and a beta of 1.19.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, beating the consensus estimate of ($0.82) by $0.01. During the same quarter last year, the firm posted ($0.73) earnings per share. On average, analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on XENE. William Blair raised shares of Xenon Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd. HC Wainwright reissued a “buy” rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a report on Thursday, December 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price target on shares of Xenon Pharmaceuticals in a research note on Wednesday, November 13th. Finally, Raymond James reissued an “outperform” rating and set a $50.00 price objective on shares of Xenon Pharmaceuticals in a report on Thursday, October 10th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Xenon Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $56.00.

Insider Buying and Selling

In other Xenon Pharmaceuticals news, Director Gary Patou sold 4,891 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $41.08, for a total transaction of $200,922.28. Following the completion of the sale, the director now directly owns 23,573 shares of the company’s stock, valued at approximately $968,378.84. The trade was a 17.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Sherry Aulin sold 18,709 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $41.21, for a total transaction of $770,997.89. The disclosure for this sale can be found here. 5.52% of the stock is currently owned by corporate insiders.

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.