Bellevue Group AG Sells 2,000 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Bellevue Group AG lessened its stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 19.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,200 shares of the biopharmaceutical company’s stock after selling 2,000 shares during the quarter. Bellevue Group AG’s holdings in Xenon Pharmaceuticals were worth $323,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of XENE. Harbor Capital Advisors Inc. raised its holdings in Xenon Pharmaceuticals by 647.8% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 24,116 shares of the biopharmaceutical company’s stock valued at $940,000 after buying an additional 20,891 shares during the last quarter. Loomis Sayles & Co. L P raised its stake in shares of Xenon Pharmaceuticals by 7.1% during the third quarter. Loomis Sayles & Co. L P now owns 707,222 shares of the biopharmaceutical company’s stock valued at $27,843,000 after acquiring an additional 46,964 shares during the last quarter. DNB Asset Management AS raised its stake in shares of Xenon Pharmaceuticals by 39.2% during the second quarter. DNB Asset Management AS now owns 175,733 shares of the biopharmaceutical company’s stock valued at $6,852,000 after acquiring an additional 49,483 shares during the last quarter. Vestal Point Capital LP lifted its holdings in shares of 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 purchasing an additional 300,000 shares during the period. Finally, Driehaus Capital Management LLC grew its stake in shares of Xenon Pharmaceuticals by 2.3% in the second quarter. Driehaus Capital Management LLC now owns 4,419,472 shares of the biopharmaceutical company’s stock worth $172,315,000 after purchasing an additional 97,732 shares during the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Xenon Pharmaceuticals news, Director Gary Patou sold 4,891 shares of the business’s stock in a transaction on 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 sale, the director now owns 23,573 shares in the company, valued at approximately $968,378.84. The trade was a 17.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.52% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $53.00 target price on shares of Xenon Pharmaceuticals in a research report on Wednesday, November 13th. Needham & Company LLC restated a “buy” rating and set a $60.00 price objective on shares of Xenon Pharmaceuticals in a research report on Wednesday, November 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $55.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd. Wedbush decreased their target price on shares of Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 price target on shares of Xenon Pharmaceuticals in a research report on Friday, August 9th. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Xenon Pharmaceuticals presently has an average rating of “Buy” and an average target price of $57.45.

Xenon Pharmaceuticals Trading Down 1.2 %

NASDAQ:XENE opened at $42.63 on Monday. Xenon Pharmaceuticals Inc. has a twelve month low of $35.18 and a twelve month high of $50.99. The company has a fifty day moving average of $41.47 and a 200-day moving average of $40.25.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) EPS for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.01. During the same quarter last year, the firm earned ($0.73) earnings per share. On average, sell-side analysts predict 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.