Bank of New York Mellon Corp cut its holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE – Free Report) by 21.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 167,349 shares of the biopharmaceutical company’s stock after selling 44,392 shares during the quarter. Bank of New York Mellon Corp’s holdings in Xenon Pharmaceuticals were worth $5,717,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of XENE. JPMorgan Chase & Co. grew its position in shares of Xenon Pharmaceuticals by 33.4% in the 1st quarter. JPMorgan Chase & Co. now owns 6,371 shares of the biopharmaceutical company’s stock valued at $194,000 after purchasing an additional 1,596 shares during the period. Citigroup Inc. grew its position in shares of Xenon Pharmaceuticals by 4,353.5% in the 1st quarter. Citigroup Inc. now owns 102,475 shares of the biopharmaceutical company’s stock valued at $3,133,000 after purchasing an additional 100,174 shares during the period. BlackRock Inc. grew its position in shares of Xenon Pharmaceuticals by 8.3% in the 1st quarter. BlackRock Inc. now owns 614,957 shares of the biopharmaceutical company’s stock valued at $18,801,000 after purchasing an additional 47,385 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Xenon Pharmaceuticals by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 293,729 shares of the biopharmaceutical company’s stock valued at $8,979,000 after purchasing an additional 1,783 shares during the period. Finally, Allianz Asset Management GmbH boosted its position in Xenon Pharmaceuticals by 46.2% during the 1st quarter. Allianz Asset Management GmbH now owns 102,185 shares of the biopharmaceutical company’s stock worth $3,123,000 after acquiring an additional 32,280 shares during the last quarter. 95.70% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Xenon Pharmaceuticals
In related news, Director Gary Patou sold 11,380 shares of the stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $39.29, for a total value of $447,120.20. Following the sale, the director now owns 23,573 shares in the company, valued at approximately $926,183.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.43% of the stock is owned by company insiders.
Xenon Pharmaceuticals Stock Down 1.8 %
Xenon Pharmaceuticals (NASDAQ:XENE – Get Free Report) last announced its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.02. During the same period in the prior year, the firm posted ($0.57) EPS. On average, sell-side analysts expect that Xenon Pharmaceuticals Inc. will post -2.82 EPS for the current year.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on XENE. Bank of America upped their price target on Xenon Pharmaceuticals from $52.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, January 2nd. Citigroup began coverage on Xenon Pharmaceuticals in a research report on Thursday, January 4th. They set a “buy” rating and a $62.00 price target for the company. JPMorgan Chase & Co. upped their price target on Xenon Pharmaceuticals from $54.00 to $59.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 19th. Stifel Nicolaus upped their price target on Xenon Pharmaceuticals from $53.00 to $62.00 and gave the stock a “buy” rating in a research report on Monday, December 18th. Finally, Royal Bank of Canada upped their price target on Xenon Pharmaceuticals from $51.00 to $56.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 28th. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.89.
Xenon Pharmaceuticals Profile
Xenon Pharmaceuticals Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN496, a Kv7 potassium channel opener that is Phase III clinical trials for the treatment of KCNQ2 developmental and epileptic encephalopathy; and XEN1101, a Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.
- Five stocks we like better than Xenon Pharmaceuticals
- Natural Gas Prices Continue To Rally, These Stocks Should Benefit
- Does UPS stock going down present an opportunity?
- The 3 Best Fintech Stocks to Buy Now
- The truth behind Williams-Sonoma stock drop
- The Most Important Warren Buffett Stock for Investors: His Own
- Is Airbnb a buy on fee increase, international growth?
Receive News & Ratings for Xenon Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Xenon Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.