Jennison Associates LLC Has $76.69 Million Stake in Xenon Pharmaceuticals Inc. $XENE

Jennison Associates LLC raised its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 2.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,318,814 shares of the biopharmaceutical company’s stock after acquiring an additional 26,759 shares during the period. Jennison Associates LLC owned approximately 1.36% of Xenon Pharmaceuticals worth $76,689,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Avoro Capital Advisors LLC raised its stake in Xenon Pharmaceuticals by 0.5% in the fourth quarter. Avoro Capital Advisors LLC now owns 5,424,444 shares of the biopharmaceutical company’s stock valued at $243,124,000 after purchasing an additional 24,444 shares in the last quarter. Janus Henderson Group PLC grew its stake in Xenon Pharmaceuticals by 3.6% during the fourth quarter. Janus Henderson Group PLC now owns 4,084,034 shares of the biopharmaceutical company’s stock worth $183,110,000 after buying an additional 140,149 shares in the last quarter. Wellington Management Group LLP increased its holdings in Xenon Pharmaceuticals by 66.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,609,857 shares of the biopharmaceutical company’s stock valued at $144,936,000 after buying an additional 1,435,096 shares during the period. Capital International Investors increased its holdings in Xenon Pharmaceuticals by 7.3% in the 4th quarter. Capital International Investors now owns 3,414,959 shares of the biopharmaceutical company’s stock valued at $153,058,000 after buying an additional 233,466 shares during the period. Finally, Commodore Capital LP raised its position in shares of Xenon Pharmaceuticals by 30.1% in the 2nd quarter. Commodore Capital LP now owns 3,025,000 shares of the biopharmaceutical company’s stock valued at $94,682,000 after buying an additional 700,000 shares in the last quarter. Institutional investors own 95.45% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on XENE. Wells Fargo & Company reaffirmed an “overweight” rating and set a $69.00 price target on shares of Xenon Pharmaceuticals in a report on Sunday, May 10th. JPMorgan Chase & Co. lifted their price objective on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Wednesday, May 27th. Needham & Company LLC lowered their price objective on shares of Xenon Pharmaceuticals from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Royal Bank Of Canada upped their target price on Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a report on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $77.20.

Xenon Pharmaceuticals Stock Performance

Xenon Pharmaceuticals stock opened at $68.26 on Monday. The company has a market capitalization of $6.60 billion, a PE ratio of -14.52 and a beta of 0.61. Xenon Pharmaceuticals Inc. has a 12 month low of $30.00 and a 12 month high of $72.66. The stock has a 50-day moving average price of $57.24 and a two-hundred day moving average price of $51.92.

Xenon Pharmaceuticals (NASDAQ:XENE) last released 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 prior year, the firm earned ($0.83) EPS. As a group, analysts predict that Xenon Pharmaceuticals Inc. will post -4.92 earnings per share for the current fiscal year.

Insider Activity at Xenon Pharmaceuticals

In other news, Director Gillian Cannon sold 1,190 shares of Xenon Pharmaceuticals stock in a transaction on Friday, June 5th. The shares were sold at an average price of $53.14, for a total transaction of $63,236.60. Following the transaction, the director owned 1,455 shares in the company, valued at approximately $77,318.70. The trade was a 44.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gary Patou sold 1,322 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $53.14, for a total transaction of $70,251.08. Following the completion of the sale, the director directly owned 24,896 shares in the company, valued at approximately $1,322,973.44. This represents a 5.04% decrease in their position. The SEC filing for this sale provides additional information. 2.91% of the stock is owned by company insiders.

Xenon Pharmaceuticals Company 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.