Fmr LLC Increases Stock Position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Fmr LLC boosted its holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 8.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,525,290 shares of the biopharmaceutical company’s stock after purchasing an additional 607,606 shares during the period. Fmr LLC owned about 0.10% of Xenon Pharmaceuticals worth $294,991,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its stake in shares of Xenon Pharmaceuticals by 13.2% during the 3rd quarter. State Street Corp now owns 279,513 shares of the biopharmaceutical company’s stock valued at $11,004,000 after buying an additional 32,701 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its stake in Xenon Pharmaceuticals by 68.8% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 24,557 shares of the biopharmaceutical company’s stock valued at $967,000 after acquiring an additional 10,007 shares during the last quarter. Barclays PLC grew its holdings in Xenon Pharmaceuticals by 1,275.5% during the 3rd quarter. Barclays PLC now owns 14,993 shares of the biopharmaceutical company’s stock worth $590,000 after acquiring an additional 13,903 shares in the last quarter. Vestcor Inc bought a new stake in shares of Xenon Pharmaceuticals in the 3rd quarter worth about $327,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Xenon Pharmaceuticals by 1,263.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company’s stock valued at $38,456,000 after purchasing an additional 905,129 shares in the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on XENE shares. Deutsche Bank Aktiengesellschaft began coverage on Xenon Pharmaceuticals in a research note on Tuesday, February 11th. They set a “buy” rating and a $67.00 price objective on the stock. StockNews.com cut Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday, April 6th. Royal Bank of Canada reiterated an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. HC Wainwright restated a “buy” rating and issued a $53.00 price target on shares of Xenon Pharmaceuticals in a research report on Monday, February 24th. Finally, William Blair reaffirmed an “outperform” rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $57.38.

Xenon Pharmaceuticals Trading Down 2.7 %

NASDAQ XENE opened at $30.73 on Friday. The company has a 50-day moving average price of $35.71 and a two-hundred day moving average price of $39.03. Xenon Pharmaceuticals Inc. has a 52 week low of $26.74 and a 52 week high of $46.00. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of -10.90 and a beta of 1.21.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings data 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 research analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Ian Mortimer sold 22,468 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $40.20, for a total value of $903,213.60. Following the completion of the transaction, the chief executive officer now directly owns 31,302 shares in the company, valued at $1,258,340.40. This trade represents a 41.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 5.52% of the company’s stock.

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.