ProShare Advisors LLC Acquires New Position in Xenon Pharmaceuticals Inc. $XENE

ProShare Advisors LLC acquired a new stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 18,448 shares of the biopharmaceutical company’s stock, valued at approximately $577,000.

A number of other large investors have also modified their holdings of XENE. Mirae Asset Global Investments Co. Ltd. grew its holdings in Xenon Pharmaceuticals by 15.7% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,964 shares of the biopharmaceutical company’s stock worth $93,000 after acquiring an additional 403 shares during the period. Natixis Advisors LLC increased its holdings in shares of Xenon Pharmaceuticals by 1.9% in the 1st quarter. Natixis Advisors LLC now owns 24,010 shares of the biopharmaceutical company’s stock valued at $806,000 after purchasing an additional 456 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Xenon Pharmaceuticals by 439.0% in the first quarter. Bank of New York Mellon Corp now owns 251,147 shares of the biopharmaceutical company’s stock valued at $8,426,000 after purchasing an additional 204,550 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its holdings in Xenon Pharmaceuticals by 17.5% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 47,457 shares of the biopharmaceutical company’s stock worth $1,592,000 after buying an additional 7,081 shares in the last quarter. Finally, HighMark Wealth Management LLC grew its position in Xenon Pharmaceuticals by 327.9% during the second quarter. HighMark Wealth Management LLC now owns 26,100 shares of the biopharmaceutical company’s stock worth $817,000 after buying an additional 20,000 shares during the period. 95.45% of the stock is owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Stock Performance

XENE stock opened at $40.61 on Wednesday. The stock’s 50 day moving average price is $39.58 and its 200 day moving average price is $35.55. The firm has a market cap of $3.14 billion, a P/E ratio of -11.44 and a beta of 1.10. Xenon Pharmaceuticals Inc. has a 1 year low of $26.74 and a 1 year high of $44.23.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings results on Monday, November 3rd. The biopharmaceutical company reported ($1.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.16) by $0.01. During the same period last year, the firm earned ($0.81) earnings per share. The firm’s revenue was up .0% compared to the same quarter last year. On average, research analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on XENE shares. JPMorgan Chase & Co. lifted their price target on shares of Xenon Pharmaceuticals from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday. Wells Fargo & Company reaffirmed an “overweight” rating and set a $44.00 price objective (down from $48.00) on shares of Xenon Pharmaceuticals in a report on Tuesday, November 4th. Wedbush boosted their target price on Xenon Pharmaceuticals from $42.00 to $43.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 12th. Royal Bank Of Canada upped their target price on Xenon Pharmaceuticals from $55.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a research report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.27.

Insiders Place Their Bets

In other Xenon Pharmaceuticals news, CEO Ian Mortimer sold 25,000 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $40.16, for a total value of $1,004,000.00. Following the transaction, the chief executive officer directly owned 31,302 shares in the company, valued at approximately $1,257,088.32. This represents a 44.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.07% 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.