Rhenman & Partners Asset Management AB Buys 46,000 Shares of Xenon Pharmaceuticals Inc. $XENE

Rhenman & Partners Asset Management AB increased its stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 131.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 81,000 shares of the biopharmaceutical company’s stock after acquiring an additional 46,000 shares during the period. Rhenman & Partners Asset Management AB’s holdings in Xenon Pharmaceuticals were worth $3,252,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its position in shares of Xenon Pharmaceuticals by 7.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 442,732 shares of the biopharmaceutical company’s stock worth $14,854,000 after purchasing an additional 32,486 shares during the last quarter. Amalgamated Bank bought a new position in shares of Xenon Pharmaceuticals in the second quarter valued at $81,000. Bank of New York Mellon Corp increased its holdings in Xenon Pharmaceuticals by 73.6% during the second quarter. Bank of New York Mellon Corp now owns 436,020 shares of the biopharmaceutical company’s stock worth $13,647,000 after buying an additional 184,873 shares during the last quarter. ProShare Advisors LLC bought a new stake in Xenon Pharmaceuticals during the second quarter worth $577,000. Finally, Nan Fung Trinity HK Ltd. acquired a new stake in Xenon Pharmaceuticals in the second quarter valued at $4,964,000. 95.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on XENE. Chardan Capital upgraded shares of Xenon Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, November 19th. Stifel Nicolaus set a $66.00 target price on shares of Xenon Pharmaceuticals in a research note on Tuesday, February 10th. Wolfe Research initiated coverage on Xenon Pharmaceuticals in a report on Monday, February 23rd. They set an “outperform” rating and a $60.00 price target for the company. JPMorgan Chase & Co. boosted their price target on Xenon Pharmaceuticals from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, January 9th. Finally, Wells Fargo & Company upped their price objective on Xenon Pharmaceuticals from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Xenon Pharmaceuticals presently has an average rating of “Buy” and an average target price of $55.50.

Xenon Pharmaceuticals Price Performance

Shares of XENE opened at $41.94 on Friday. The company’s 50-day moving average is $42.25 and its 200-day moving average is $41.21. The firm has a market capitalization of $3.49 billion, a PE ratio of -9.62 and a beta of 0.91. Xenon Pharmaceuticals Inc. has a fifty-two week low of $26.74 and a fifty-two week high of $46.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its earnings results on Thursday, February 26th. The biopharmaceutical company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($1.20) by ($0.11). During the same period last year, the company earned ($0.84) EPS. Analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Ian Mortimer sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $44.43, for a total transaction of $1,777,200.00. Following the completion of the sale, the chief executive officer owned 6,000 shares in the company, valued at $266,580. The trade was a 86.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.07% of the stock is currently owned by corporate 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.