Arizona State Retirement System Purchases 3,074 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Arizona State Retirement System raised its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 21.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,552 shares of the biopharmaceutical company’s stock after buying an additional 3,074 shares during the quarter. Arizona State Retirement System’s holdings in Xenon Pharmaceuticals were worth $808,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. raised its stake in shares of Xenon Pharmaceuticals by 417.6% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,546 shares of the biopharmaceutical company’s stock valued at $394,000 after buying an additional 6,895 shares during the period. DNB Asset Management AS raised its stake in shares of Xenon Pharmaceuticals by 3.8% during the 4th quarter. DNB Asset Management AS now owns 126,375 shares of the biopharmaceutical company’s stock valued at $5,820,000 after purchasing an additional 4,605 shares during the period. Vanguard Group Inc. raised its stake in shares of Xenon Pharmaceuticals by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 266,826 shares of the biopharmaceutical company’s stock valued at $9,115,000 after purchasing an additional 5,473 shares during the period. Wellington Management Group LLP raised its stake in shares of Xenon Pharmaceuticals by 64.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,728,108 shares of the biopharmaceutical company’s stock valued at $59,032,000 after purchasing an additional 677,057 shares during the period. Finally, Walleye Trading LLC raised its stake in shares of Xenon Pharmaceuticals by 22.1% during the 3rd quarter. Walleye Trading LLC now owns 6,923 shares of the biopharmaceutical company’s stock valued at $236,000 after purchasing an additional 1,254 shares during the period. 95.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Xenon Pharmaceuticals

In other news, Director Steven Gannon sold 13,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $46.28, for a total value of $601,640.00. Following the completion of the transaction, the director now owns 2,000 shares of the company’s stock, valued at approximately $92,560. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Sherrington Robin sold 7,137 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $46.28, for a total value of $330,300.36. Following the completion of the transaction, the executive vice president now owns 8,398 shares of the company’s stock, valued at approximately $388,659.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven Gannon sold 13,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $46.28, for a total value of $601,640.00. Following the completion of the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $92,560. The disclosure for this sale can be found here. 5.43% of the stock is currently owned by corporate insiders.

Xenon Pharmaceuticals Price Performance

XENE opened at $41.63 on Thursday. The business has a 50 day simple moving average of $45.16 and a two-hundred day simple moving average of $40.80. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of -15.31 and a beta of 1.15. Xenon Pharmaceuticals Inc. has a one year low of $27.99 and a one year high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.64) EPS for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.12. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.57) EPS. As a group, sell-side analysts expect that Xenon Pharmaceuticals Inc. will post -3.04 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on XENE shares. Bank of America boosted their price objective on Xenon Pharmaceuticals from $52.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, January 2nd. Wedbush upped their target price on Xenon Pharmaceuticals from $46.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 price objective on shares of Xenon Pharmaceuticals in a report on Wednesday, April 10th. Needham & Company LLC reiterated a “buy” rating and issued a $62.00 price objective on shares of Xenon Pharmaceuticals in a report on Friday, April 12th. Finally, Citigroup began coverage on Xenon Pharmaceuticals in a report on Thursday, January 4th. They issued a “buy” rating and a $62.00 price objective for the company. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.44.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN496, a Kv7 potassium channel opener that is Phase III clinical trials for the treatment of KCNQ2 developmental and epileptic encephalopathy; and XEN1101, a Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.