Xenon Pharmaceuticals Inc. $XENE is Braidwell LP’s 7th Largest Position

Braidwell LP lifted its holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 33.0% in the second quarter, HoldingsChannel reports. The firm owned 3,605,029 shares of the biopharmaceutical company’s stock after buying an additional 895,154 shares during the quarter. Xenon Pharmaceuticals makes up approximately 3.9% of Braidwell LP’s holdings, making the stock its 7th biggest holding. Braidwell LP’s holdings in Xenon Pharmaceuticals were worth $112,837,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in XENE. Geode Capital Management LLC lifted its holdings in Xenon Pharmaceuticals by 1,294.2% during the 2nd quarter. Geode Capital Management LLC now owns 970,343 shares of the biopharmaceutical company’s stock worth $30,369,000 after buying an additional 900,746 shares in the last quarter. Commodore Capital LP increased its position in shares of Xenon Pharmaceuticals by 30.1% during the second quarter. Commodore Capital LP now owns 3,025,000 shares of the biopharmaceutical company’s stock worth $94,682,000 after acquiring an additional 700,000 shares during the period. American Century Companies Inc. acquired a new stake in shares of Xenon Pharmaceuticals in the second quarter valued at $21,280,000. Vestal Point Capital LP boosted its holdings in Xenon Pharmaceuticals by 60.5% in the first quarter. Vestal Point Capital LP now owns 1,300,000 shares of the biopharmaceutical company’s stock valued at $43,615,000 after purchasing an additional 490,000 shares during the period. Finally, Marshall Wace LLP increased its holdings in Xenon Pharmaceuticals by 34.6% during the 2nd quarter. Marshall Wace LLP now owns 1,020,254 shares of the biopharmaceutical company’s stock worth $31,934,000 after purchasing an additional 262,109 shares during the period. 95.45% of the stock is owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Stock Performance

XENE opened at $44.06 on Friday. The business’s 50-day simple moving average is $41.68 and its 200-day simple moving average is $36.89. Xenon Pharmaceuticals Inc. has a one year low of $26.74 and a one year high of $46.60. The stock has a market capitalization of $3.40 billion, a P/E ratio of -11.33 and a beta of 1.03.

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on Xenon Pharmaceuticals from $57.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 18th. William Blair reiterated an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Tuesday, October 7th. Bloom Burton raised shares of Xenon Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, October 7th. Needham & Company LLC restated a “buy” rating and issued a $55.00 price objective on shares of Xenon Pharmaceuticals in a report on Tuesday, November 4th. Finally, Royal Bank Of Canada boosted their target price on shares of Xenon Pharmaceuticals from $55.00 to $58.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $54.64.

Insider Buying and Selling at Xenon Pharmaceuticals

In other news, CEO Ian Mortimer sold 10,830 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $45.73, for a total transaction of $495,255.90. Following the transaction, the chief executive officer directly owned 6,000 shares in the company, valued at approximately $274,380. This trade represents a 64.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 50,302 shares of company stock valued at $2,150,928 over the last three months. 4.07% of the stock is currently owned by corporate insiders.

About Xenon Pharmaceuticals

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.