Walleye Capital LLC Buys New Stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Walleye Capital LLC purchased a new position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 104,960 shares of the biopharmaceutical company’s stock, valued at approximately $4,132,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Xenon Pharmaceuticals by 3.8% during the first quarter. Vanguard Group Inc. now owns 335,635 shares of the biopharmaceutical company’s stock valued at $14,449,000 after buying an additional 12,140 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its position in shares of Xenon Pharmaceuticals by 87.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 10,032 shares of the biopharmaceutical company’s stock valued at $432,000 after acquiring an additional 4,691 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of Xenon Pharmaceuticals by 0.9% in the first quarter. California State Teachers Retirement System now owns 56,477 shares of the biopharmaceutical company’s stock valued at $2,431,000 after purchasing an additional 490 shares in the last quarter. Virtu Financial LLC bought a new stake in Xenon Pharmaceuticals in the first quarter worth $287,000. Finally, DNB Asset Management AS increased its position in Xenon Pharmaceuticals by 39.2% in the second quarter. DNB Asset Management AS now owns 175,733 shares of the biopharmaceutical company’s stock worth $6,852,000 after purchasing an additional 49,483 shares during the last quarter. Institutional investors own 95.45% of the company’s stock.

Xenon Pharmaceuticals Trading Down 1.2 %

NASDAQ:XENE opened at $42.63 on Monday. The company has a market cap of $3.25 billion, a price-to-earnings ratio of -15.12 and a beta of 1.25. Xenon Pharmaceuticals Inc. has a twelve month low of $35.18 and a twelve month high of $50.99. The stock has a fifty day simple moving average of $41.47 and a 200-day simple moving average of $40.25.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.01. During the same quarter in the prior year, the business posted ($0.73) EPS. As a group, equities research analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 price objective on shares of Xenon Pharmaceuticals in a research note on Friday, August 9th. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price target on shares of Xenon Pharmaceuticals in a research report on Wednesday, November 13th. Royal Bank of Canada restated an “outperform” rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a research report on Tuesday, September 3rd. William Blair upgraded Xenon Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Finally, HC Wainwright restated a “buy” rating and set a $53.00 price target on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $57.45.

Insider Transactions at Xenon Pharmaceuticals

In related news, Director Gary Patou sold 4,891 shares of Xenon Pharmaceuticals stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $41.08, for a total value of $200,922.28. Following the completion of the sale, the director now directly owns 23,573 shares in the company, valued at $968,378.84. The trade was a 17.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 5.52% of the company’s stock.

About Xenon Pharmaceuticals

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.