Pictet Asset Management Holding SA Grows Position in Xenon Pharmaceuticals Inc. $XENE

Pictet Asset Management Holding SA raised its stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 8.6% during the first quarter, HoldingsChannel reports. The firm owned 679,709 shares of the biopharmaceutical company’s stock after purchasing an additional 53,724 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Xenon Pharmaceuticals were worth $39,229,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in XENE. SG Americas Securities LLC lifted its stake in shares of Xenon Pharmaceuticals by 28.9% during the first quarter. SG Americas Securities LLC now owns 9,119 shares of the biopharmaceutical company’s stock worth $530,000 after buying an additional 2,042 shares during the period. Rockefeller Capital Management L.P. increased its position in shares of Xenon Pharmaceuticals by 450.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,100 shares of the biopharmaceutical company’s stock valued at $49,000 after acquiring an additional 900 shares during the period. Corient Private Wealth LLC purchased a new position in Xenon Pharmaceuticals in the 4th quarter worth $1,125,000. Caitong International Asset Management Co. Ltd purchased a new position in Xenon Pharmaceuticals in the 4th quarter worth $55,000. Finally, Mackenzie Financial Corp purchased a new position in Xenon Pharmaceuticals in the 4th quarter worth $210,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Insider Activity at Xenon Pharmaceuticals

In other Xenon Pharmaceuticals news, Director Gary Patou sold 1,322 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $53.14, for a total value of $70,251.08. Following the sale, the director owned 24,896 shares in the company, valued at approximately $1,322,973.44. This represents a 5.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Gillian Cannon sold 1,190 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $53.14, for a total transaction of $63,236.60. Following the sale, the director directly owned 1,455 shares in the company, valued at $77,318.70. The trade was a 44.99% decrease in their position. The SEC filing for this sale provides additional information. 4.07% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

XENE has been the topic of several research analyst reports. Wedbush dropped their price target on Xenon Pharmaceuticals from $64.00 to $63.00 and set an “outperform” rating on the stock in a research note on Monday, March 16th. HC Wainwright raised their price objective on Xenon Pharmaceuticals from $53.00 to $74.00 and gave the stock a “buy” rating in a research note on Tuesday, March 10th. Jefferies Financial Group set a $100.00 price objective on Xenon Pharmaceuticals in a research note on Monday, March 9th. Needham & Company LLC decreased their target price on Xenon Pharmaceuticals from $80.00 to $78.00 and set a “buy” rating for the company in a report on Friday, May 8th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $69.00 price target on shares of Xenon Pharmaceuticals in a report on Sunday, May 10th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $77.20.

Xenon Pharmaceuticals Stock Performance

Shares of XENE opened at $60.36 on Wednesday. The business’s 50-day moving average is $54.77 and its two-hundred day moving average is $49.95. The company has a market capitalization of $5.84 billion, a P/E ratio of -12.84 and a beta of 0.62. Xenon Pharmaceuticals Inc. has a fifty-two week low of $30.00 and a fifty-two week high of $63.95.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.17) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($1.17). During the same period last year, the firm posted ($0.83) earnings per share. Analysts forecast that Xenon Pharmaceuticals Inc. will post -4.92 EPS for the current year.

Xenon Pharmaceuticals Profile

Xenon Pharmaceuticals Inc is a clinical?stage biopharmaceutical company dedicated to discovering and developing novel, small?molecule drugs targeting ion channels in the central and peripheral nervous system. The company’s research focus centers on neurological and pain disorders—including epilepsy, migraine, and neuropathic pain—by modulating key ion?channel proteins to restore normal neuronal function. Xenon’s scientific platform draws upon advances in ion?channel biology and structure?based drug design to identify and optimize therapeutic candidates with the potential for improved safety and efficacy profiles compared with existing treatments.

The company’s pipeline comprises multiple preclinical and clinical programs.