HighVista Strategies LLC Boosts Position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

HighVista Strategies LLC raised its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 1.4% during the 3rd quarter, Holdings Channel reports. The firm owned 73,762 shares of the biopharmaceutical company’s stock after acquiring an additional 1,047 shares during the quarter. HighVista Strategies LLC’s holdings in Xenon Pharmaceuticals were worth $2,904,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Erste Asset Management GmbH purchased a new position in shares of Xenon Pharmaceuticals during the 3rd quarter worth approximately $1,932,000. PFM Health Sciences LP grew its holdings in Xenon Pharmaceuticals by 19.5% during the 3rd quarter. PFM Health Sciences LP now owns 179,878 shares of the biopharmaceutical company’s stock valued at $7,082,000 after buying an additional 29,324 shares during the last quarter. Braidwell LP increased its position in Xenon Pharmaceuticals by 5.7% during the third quarter. Braidwell LP now owns 2,707,255 shares of the biopharmaceutical company’s stock worth $106,585,000 after buying an additional 146,682 shares in the last quarter. Vestal Point Capital LP increased its position in Xenon Pharmaceuticals by 57.1% during the third quarter. Vestal Point Capital LP now owns 825,000 shares of the biopharmaceutical company’s stock worth $32,480,000 after buying an additional 300,000 shares in the last quarter. Finally, Walleye Capital LLC acquired a new position in shares of Xenon Pharmaceuticals in the third quarter worth $4,132,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Analysts Set New Price Targets

XENE has been the subject of several analyst reports. Raymond James reiterated an “outperform” rating and issued a $50.00 target price on shares of Xenon Pharmaceuticals in a research note on Thursday, October 10th. Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 target price on shares of Xenon Pharmaceuticals in a research report on Friday, August 9th. Wedbush lowered their target price on shares of Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd. Finally, HC Wainwright restated a “buy” rating and set a $53.00 price objective on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Xenon Pharmaceuticals has a consensus rating of “Buy” and an average price target of $57.45.

Insiders Place Their Bets

In other news, Director Gary Patou sold 4,891 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $41.08, for a total transaction of $200,922.28. Following the completion of the transaction, the director now owns 23,573 shares in the company, valued at approximately $968,378.84. This trade represents a 17.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 5.52% of the stock is owned by corporate insiders.

Xenon Pharmaceuticals Stock Performance

Shares of XENE opened at $42.12 on Tuesday. Xenon Pharmaceuticals Inc. has a 12 month low of $35.53 and a 12 month high of $50.99. The stock’s 50-day moving average is $41.52 and its two-hundred day moving average is $40.27.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) EPS for the quarter, topping the consensus estimate of ($0.82) by $0.01. During the same quarter in the prior year, the firm posted ($0.73) EPS. As a group, equities analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current year.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals Inc, a neuroscience-focused biopharmaceutical company, engages in the development of therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN1101, a novel and potent Kv7 potassium channel opener, which is in Phase 3 clinical trials for the treatment of epilepsy and other neurological disorders.