Advisors Asset Management Inc. Has $535,000 Position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Advisors Asset Management Inc. raised its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 3.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,592 shares of the biopharmaceutical company’s stock after purchasing an additional 493 shares during the period. Advisors Asset Management Inc.’s holdings in Xenon Pharmaceuticals were worth $535,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of XENE. Blue Trust Inc. increased its holdings in shares of Xenon Pharmaceuticals by 174.7% in the third quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 641 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Xenon Pharmaceuticals in the third quarter valued at $102,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Xenon Pharmaceuticals by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company’s stock valued at $106,000 after purchasing an additional 487 shares during the last quarter. Quarry LP increased its holdings in shares of Xenon Pharmaceuticals by 207.7% in the second quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock valued at $156,000 after purchasing an additional 2,700 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Xenon Pharmaceuticals in the first quarter valued at about $287,000. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Gary Patou sold 4,891 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $41.08, for a total value of $200,922.28. Following the completion of the transaction, the director now owns 23,573 shares of the company’s stock, valued at $968,378.84. This represents a 17.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 5.52% of the stock is currently owned by insiders.

Xenon Pharmaceuticals Trading Up 1.6 %

Shares of NASDAQ XENE opened at $43.15 on Thursday. The company has a market cap of $3.29 billion, a price-to-earnings ratio of -15.30 and a beta of 1.25. Xenon Pharmaceuticals Inc. has a 12 month low of $33.62 and a 12 month high of $50.99. The stock has a 50-day moving average price of $41.37 and a two-hundred day moving average price of $40.22.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its 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 period last year, the company posted ($0.73) EPS. On average, sell-side analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on XENE. Wedbush reduced 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. Royal Bank of Canada reissued an “outperform” rating and issued a $55.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday, September 3rd. HC Wainwright reissued a “buy” rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a research report on Wednesday, November 13th. Raymond James reissued an “outperform” rating and issued a $50.00 target price on shares of Xenon Pharmaceuticals in a research report on Thursday, October 10th. Finally, 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. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $57.45.

About Xenon Pharmaceuticals

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.