T. Rowe Price Investment Management Inc. Sells 65,977 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

T. Rowe Price Investment Management Inc. reduced its position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 4.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,437,831 shares of the biopharmaceutical company’s stock after selling 65,977 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 1.89% of Xenon Pharmaceuticals worth $56,363,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in XENE. Barclays PLC lifted its holdings in Xenon Pharmaceuticals by 1,275.5% in the third quarter. Barclays PLC now owns 14,993 shares of the biopharmaceutical company’s stock valued at $590,000 after buying an additional 13,903 shares during the period. JPMorgan Chase & Co. increased its stake in Xenon Pharmaceuticals by 1,263.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company’s stock worth $38,456,000 after purchasing an additional 905,129 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Xenon Pharmaceuticals by 3.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 49,818 shares of the biopharmaceutical company’s stock worth $1,953,000 after acquiring an additional 1,755 shares in the last quarter. Elmwood Wealth Management Inc. raised its stake in shares of Xenon Pharmaceuticals by 44.7% in the 4th quarter. Elmwood Wealth Management Inc. now owns 11,007 shares of the biopharmaceutical company’s stock valued at $431,000 after purchasing an additional 3,400 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in Xenon Pharmaceuticals by 12.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 238,522 shares of the biopharmaceutical company’s stock valued at $9,350,000 after buying an additional 26,235 shares during the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Xenon Pharmaceuticals

In related news, CEO Ian Mortimer sold 16,315 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $40.50, for a total value of $660,757.50. Following the transaction, the chief executive officer now owns 31,302 shares in the company, valued at approximately $1,267,731. This trade represents a 34.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.52% of the company’s stock.

Xenon Pharmaceuticals Price Performance

NASDAQ:XENE opened at $37.62 on Friday. The firm’s fifty day moving average price is $34.80 and its two-hundred day moving average price is $38.68. The company has a market cap of $2.88 billion, a P/E ratio of -13.34 and a beta of 1.21. Xenon Pharmaceuticals Inc. has a one year low of $26.74 and a one year high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share for the quarter, topping the consensus estimate of ($0.89) by $0.05. As a group, equities research analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. StockNews.com raised Xenon Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft initiated coverage on Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating and a $67.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $53.00 price target on shares of Xenon Pharmaceuticals in a research report on Monday, February 24th. Finally, The Goldman Sachs Group cut their price objective on Xenon Pharmaceuticals from $60.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, April 17th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $56.78.

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.