Prudential Financial Inc. Acquires 24,956 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Prudential Financial Inc. increased its holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 177.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,000 shares of the biopharmaceutical company’s stock after buying an additional 24,956 shares during the period. Prudential Financial Inc. owned about 0.05% of Xenon Pharmaceuticals worth $1,529,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of XENE. Blue Trust Inc. increased its holdings in shares of Xenon Pharmaceuticals by 140.3% in the 4th quarter. Blue Trust Inc. now owns 2,422 shares of the biopharmaceutical company’s stock valued at $95,000 after acquiring an additional 1,414 shares during the period. Avior Wealth Management LLC purchased a new position in Xenon Pharmaceuticals in the fourth quarter valued at about $101,000. KBC Group NV raised its holdings in Xenon Pharmaceuticals by 39.8% in the fourth quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 780 shares in the last quarter. Magnetar Financial LLC purchased a new stake in shares of Xenon Pharmaceuticals during the fourth quarter valued at about $210,000. Finally, HighMark Wealth Management LLC boosted its holdings in shares of Xenon Pharmaceuticals by 22.0% in the 4th quarter. HighMark Wealth Management LLC now owns 6,100 shares of the biopharmaceutical company’s stock valued at $239,000 after buying an additional 1,100 shares in the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Xenon Pharmaceuticals Stock Down 4.3 %

Shares of NASDAQ:XENE opened at $29.40 on Friday. Xenon Pharmaceuticals Inc. has a 52-week low of $29.20 and a 52-week high of $46.00. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of -10.43 and a beta of 1.21. The business has a 50-day moving average price of $36.90 and a 200-day moving average price of $39.43.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.05. As a group, equities analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on XENE shares. William Blair reiterated an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. Royal Bank of Canada reiterated an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. StockNews.com downgraded Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday. HC Wainwright reiterated a “buy” rating and issued a $53.00 price target on shares of Xenon Pharmaceuticals in a research note on Monday, February 24th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Xenon Pharmaceuticals in a research note on Tuesday, February 11th. They set a “buy” rating and a $67.00 price target on the stock. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Xenon Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $57.38.

Insider Activity at Xenon Pharmaceuticals

In related news, CEO Ian Mortimer sold 16,315 shares of Xenon Pharmaceuticals stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $40.50, for a total transaction of $660,757.50. Following the completion of the transaction, the chief executive officer now directly owns 31,302 shares in the company, valued at approximately $1,267,731. This trade represents a 34.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.52% of the stock is currently owned by 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.