Barclays PLC Increases Stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Barclays PLC grew its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 1,275.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 14,993 shares of the biopharmaceutical company’s stock after buying an additional 13,903 shares during the period. Barclays PLC’s holdings in Xenon Pharmaceuticals were worth $590,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. increased its position in shares of 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 in the last quarter. nVerses Capital LLC bought a new stake in shares of Xenon Pharmaceuticals in the 3rd quarter worth $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 worth $106,000 after purchasing an additional 487 shares during the last quarter. Quarry LP lifted its holdings in shares of Xenon Pharmaceuticals by 207.7% during the second quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock valued at $156,000 after purchasing an additional 2,700 shares in the last quarter. Finally, Vestcor Inc purchased a new stake in shares of Xenon Pharmaceuticals during the third quarter valued at $327,000. Institutional investors own 95.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a research report on Thursday, December 12th. Raymond James reiterated an “outperform” rating and issued a $50.00 price target on shares of Xenon Pharmaceuticals in a research note on Thursday, October 10th. Finally, Needham & Company LLC reissued a “buy” rating and set a $60.00 price objective on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Xenon Pharmaceuticals presently has an average rating of “Buy” and an average target price of $56.00.

Insider Activity

In related news, Director Gary Patou sold 4,891 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $41.08, for a total value of $200,922.28. Following the transaction, the director now directly owns 23,573 shares of the company’s stock, valued at approximately $968,378.84. This trade represents a 17.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sherry Aulin sold 18,709 shares of Xenon Pharmaceuticals stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $41.21, for a total value of $770,997.89. The disclosure for this sale can be found here. Insiders own 5.52% of the company’s stock.

Xenon Pharmaceuticals Stock Down 1.3 %

Xenon Pharmaceuticals stock opened at $39.62 on Friday. The business has a 50-day simple moving average of $40.61 and a two-hundred day simple moving average of $40.70. Xenon Pharmaceuticals Inc. has a 52-week low of $35.53 and a 52-week high of $50.99. The company has a market cap of $3.02 billion, a P/E ratio of -14.05 and a beta of 1.20.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.82) by $0.01. During the same quarter in the prior year, the business earned ($0.73) EPS. Research analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.13 EPS for the current fiscal 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.