Sofinnova Investments Inc. Takes $2.69 Million Position in Xenon Pharmaceuticals Inc. $XENE

Sofinnova Investments Inc. acquired a new position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 59,900 shares of the biopharmaceutical company’s stock, valued at approximately $2,685,000. Sofinnova Investments Inc. owned approximately 0.08% of Xenon Pharmaceuticals at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Holocene Advisors LP acquired a new position in Xenon Pharmaceuticals during the 2nd quarter worth approximately $56,637,000. Wellington Management Group LLP grew its stake in Xenon Pharmaceuticals by 66.0% in the third quarter. Wellington Management Group LLP now owns 3,609,857 shares of the biopharmaceutical company’s stock valued at $144,936,000 after acquiring an additional 1,435,096 shares during the period. Vestal Point Capital LP increased its holdings in shares of Xenon Pharmaceuticals by 53.8% during the second quarter. Vestal Point Capital LP now owns 2,000,000 shares of the biopharmaceutical company’s stock valued at $62,600,000 after acquiring an additional 700,000 shares in the last quarter. Commodore Capital LP increased its holdings 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 valued at $94,682,000 after acquiring an additional 700,000 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Xenon Pharmaceuticals by 439.9% during the fourth quarter. Barclays PLC now owns 600,964 shares of the biopharmaceutical company’s stock worth $26,935,000 after purchasing an additional 489,664 shares during the period. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Xenon Pharmaceuticals Trading Up 0.6%

NASDAQ XENE opened at $52.40 on Tuesday. The company has a fifty day simple moving average of $55.33 and a 200 day simple moving average of $49.05. Xenon Pharmaceuticals Inc. has a 12-month low of $30.00 and a 12-month high of $63.95. The company has a market cap of $5.07 billion, a P/E ratio of -11.15 and a beta of 0.62.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.17) earnings per share for the quarter, meeting the consensus estimate of ($1.17). During the same period in the prior year, the firm earned ($0.83) EPS. Sell-side analysts predict that Xenon Pharmaceuticals Inc. will post -4.92 EPS for the current year.

Insider Buying and Selling at Xenon Pharmaceuticals

In other Xenon Pharmaceuticals news, Director Gary Patou sold 1,322 shares of the firm’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 transaction, the director directly owned 24,896 shares in the company, valued at approximately $1,322,973.44. This trade represents a 5.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gillian Cannon sold 1,190 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $53.14, for a total value of $63,236.60. Following the transaction, the director owned 1,455 shares in the company, valued at approximately $77,318.70. This trade represents a 44.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 4.07% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on XENE. HC Wainwright lifted their price target on shares of Xenon Pharmaceuticals from $53.00 to $74.00 and gave the company a “buy” rating in a research report on Tuesday, March 10th. Wedbush reduced their price target on shares of Xenon Pharmaceuticals from $64.00 to $63.00 and set an “outperform” rating for the company in a research report on Monday, March 16th. Wolfe Research began coverage on shares of Xenon Pharmaceuticals in a research report on Monday, February 23rd. They issued an “outperform” rating and a $60.00 price target for the company. Wells Fargo & Company reissued an “overweight” rating and issued a $69.00 price target on shares of Xenon Pharmaceuticals in a research report on Sunday, May 10th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Wednesday, May 27th. Two 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. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $77.20.

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.