Peregrine Capital Management LLC Trims Stake in Xenon Pharmaceuticals Inc. $XENE

Peregrine Capital Management LLC lessened its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 18.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 143,136 shares of the biopharmaceutical company’s stock after selling 31,715 shares during the quarter. Peregrine Capital Management LLC’s holdings in Xenon Pharmaceuticals were worth $8,323,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in shares of Xenon Pharmaceuticals by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,399,033 shares of the biopharmaceutical company’s stock valued at $56,171,000 after buying an additional 142,452 shares in the last quarter. Neo Ivy Capital Management bought a new stake in Xenon Pharmaceuticals during the third quarter worth about $2,001,000. HighVista Strategies LLC grew its holdings in Xenon Pharmaceuticals by 80.2% in the third quarter. HighVista Strategies LLC now owns 82,190 shares of the biopharmaceutical company’s stock worth $3,300,000 after purchasing an additional 36,570 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Xenon Pharmaceuticals during the fourth quarter valued at approximately $5,342,000. Finally, Jain Global LLC purchased a new position in shares of Xenon Pharmaceuticals during the third quarter valued at approximately $10,133,000. 95.45% of the stock is owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Trading Up 0.4%

Shares of XENE opened at $60.36 on Wednesday. The company’s fifty day simple moving average is $54.77 and its 200-day simple moving average is $49.95. The company has a market cap of $5.84 billion, a P/E ratio of -12.84 and a beta of 0.62. Xenon Pharmaceuticals Inc. has a twelve month low of $30.00 and a twelve month high of $63.95.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.17) earnings per share for the quarter, hitting the consensus estimate of ($1.17). During the same period in the previous year, the company earned ($0.83) earnings per share. Analysts predict that Xenon Pharmaceuticals Inc. will post -4.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

XENE has been the subject of several recent analyst reports. Jefferies Financial Group set a $100.00 target price on shares of Xenon Pharmaceuticals in a report on Monday, March 9th. Wedbush decreased their price target on Xenon Pharmaceuticals from $64.00 to $63.00 and set an “outperform” rating for the company in a research note on Monday, March 16th. Needham & Company LLC dropped their price objective on Xenon Pharmaceuticals from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Robert W. Baird boosted their target price on Xenon Pharmaceuticals from $63.00 to $97.00 and gave the stock an “outperform” rating in a research report on Monday, March 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. Two equities research 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’s stock. Based on data from MarketBeat.com, Xenon Pharmaceuticals has an average rating of “Buy” and a consensus target price of $77.20.

Insider Activity

In other news, Director Gary Patou sold 1,322 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $53.14, for a total value of $70,251.08. Following the completion of the sale, the director owned 24,896 shares of the company’s stock, valued at approximately $1,322,973.44. This represents a 5.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gillian Cannon sold 1,190 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 transaction of $63,236.60. Following the completion of the sale, the director directly owned 1,455 shares of the company’s stock, valued at $77,318.70. The trade was a 44.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.07% of the stock is owned by corporate insiders.

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.