Nicholas Investment Partners LP Makes New Investment in Xenon Pharmaceuticals Inc. $XENE

Nicholas Investment Partners LP acquired a new position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) during the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 395,844 shares of the biopharmaceutical company’s stock, valued at approximately $23,893,000. Xenon Pharmaceuticals makes up 1.3% of Nicholas Investment Partners LP’s investment portfolio, making the stock its 14th biggest position.

A number of other large investors have also recently made changes to their positions in the stock. Cinctive Capital Management LP grew its stake in shares of Xenon Pharmaceuticals by 1.1% during the 4th quarter. Cinctive Capital Management LP now owns 23,317 shares of the biopharmaceutical company’s stock valued at $1,045,000 after acquiring an additional 263 shares during the period. State of Wyoming increased its holdings in Xenon Pharmaceuticals by 30.4% in the 4th quarter. State of Wyoming now owns 1,501 shares of the biopharmaceutical company’s stock worth $67,000 after acquiring an additional 350 shares in the last quarter. Quarry LP raised its stake in Xenon Pharmaceuticals by 25.0% during the 3rd quarter. Quarry LP now owns 2,500 shares of the biopharmaceutical company’s stock worth $100,000 after acquiring an additional 500 shares during the period. Royal Bank of Canada raised its stake in Xenon Pharmaceuticals by 0.7% during the 1st quarter. Royal Bank of Canada now owns 90,387 shares of the biopharmaceutical company’s stock worth $5,255,000 after acquiring an additional 630 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in Xenon Pharmaceuticals by 11.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,574 shares of the biopharmaceutical company’s stock valued at $295,000 after purchasing an additional 675 shares in the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Trading Down 0.3%

Shares of NASDAQ XENE opened at $60.56 on Tuesday. Xenon Pharmaceuticals Inc. has a 12-month low of $35.60 and a 12-month high of $72.66. The firm’s 50-day moving average price is $62.48 and its 200-day moving average price is $55.92. The stock has a market capitalization of $5.85 billion, a price-to-earnings ratio of -12.78 and a beta of 0.62.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.11) EPS for the quarter, topping the consensus estimate of ($1.16) by $0.05. During the same period in the previous year, the business posted ($1.07) earnings per share. On average, equities analysts predict that Xenon Pharmaceuticals Inc. will post -4.73 EPS for the current fiscal year.

Insider Activity

In other news, Director Steven Gannon sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $64.06, for a total value of $640,600.00. Following the completion of the sale, the director directly owned 1,870 shares of the company’s stock, valued at $119,792.20. This trade represents a 84.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gary Patou sold 1,322 shares of Xenon Pharmaceuticals 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 completion of the transaction, the director owned 24,896 shares of the company’s stock, valued at approximately $1,322,973.44. This trade represents a 5.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 12,512 shares of company stock valued at $774,088 in the last ninety days. Insiders own 2.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on XENE shares. JPMorgan Chase & Co. upped their price target on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 27th. Royal Bank Of Canada decreased their price objective on shares of Xenon Pharmaceuticals from $82.00 to $81.00 and set an “outperform” rating on the stock in a research report on Friday, August 7th. Needham & Company LLC dropped their target price on shares of Xenon Pharmaceuticals from $80.00 to $78.00 and set a “buy” rating for the company in a report on Friday, May 8th. Wall Street Zen raised shares of Xenon Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, August 1st. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $69.00 price objective on shares of Xenon Pharmaceuticals in a report on Sunday, May 10th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $77.13.

About Xenon Pharmaceuticals

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.