Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Shares Bought by Jennison Associates LLC

Jennison Associates LLC grew its holdings in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 164.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 566,396 shares of the biopharmaceutical company’s stock after buying an additional 352,573 shares during the period. Jennison Associates LLC’s holdings in Xenon Pharmaceuticals were worth $26,088,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Braidwell LP increased its position in Xenon Pharmaceuticals by 15.0% during the 3rd quarter. Braidwell LP now owns 2,103,396 shares of the biopharmaceutical company’s stock worth $71,852,000 after purchasing an additional 275,043 shares during the period. Wellington Management Group LLP increased its position in 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 worth $59,032,000 after purchasing an additional 677,057 shares during the period. Invesco Ltd. increased its position in Xenon Pharmaceuticals by 2.3% during the 3rd quarter. Invesco Ltd. now owns 716,303 shares of the biopharmaceutical company’s stock worth $24,469,000 after purchasing an additional 16,318 shares during the period. TimesSquare Capital Management LLC increased its position in Xenon Pharmaceuticals by 38.3% during the 3rd quarter. TimesSquare Capital Management LLC now owns 590,575 shares of the biopharmaceutical company’s stock worth $20,174,000 after purchasing an additional 163,650 shares during the period. Finally, Fiera Capital Corp increased its position in Xenon Pharmaceuticals by 2.0% during the 3rd quarter. Fiera Capital Corp now owns 560,546 shares of the biopharmaceutical company’s stock worth $19,148,000 after purchasing an additional 11,205 shares during the period. Institutional investors and hedge funds own 95.45% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on XENE shares. Needham & Company LLC reissued a “buy” rating and set a $62.00 price target on shares of Xenon Pharmaceuticals in a research note on Friday, April 12th. Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 price target on shares of Xenon Pharmaceuticals in a research note on Wednesday, April 10th. Wedbush boosted their price target on Xenon Pharmaceuticals from $46.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Citigroup started coverage on Xenon Pharmaceuticals in a research note on Thursday, January 4th. They set a “buy” rating and a $62.00 price target on the stock. Finally, Royal Bank of Canada decreased their price target on Xenon Pharmaceuticals from $56.00 to $55.00 and set an “outperform” rating on the stock in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Xenon Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $59.44.

Xenon Pharmaceuticals Trading Down 3.9 %

Shares of XENE opened at $39.50 on Thursday. The stock has a fifty day moving average of $44.29 and a two-hundred day moving average of $41.01. Xenon Pharmaceuticals Inc. has a fifty-two week low of $27.99 and a fifty-two week high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.64) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.12. The business’s revenue was up .0% on a year-over-year basis. During the same period last year, the company earned ($0.57) earnings per share. As a group, equities research analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.04 earnings per share for the current year.

Insider Buying and Selling at Xenon Pharmaceuticals

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

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.