Magnetar Financial LLC Takes Position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Magnetar Financial LLC acquired a new position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,363 shares of the biopharmaceutical company’s stock, valued at approximately $210,000.

Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC increased its position in Xenon Pharmaceuticals by 2.2% during the third quarter. FMR LLC now owns 6,917,684 shares of the biopharmaceutical company’s stock worth $272,349,000 after acquiring an additional 149,511 shares during the period. Wellington Management Group LLP raised its stake in shares of Xenon Pharmaceuticals by 0.4% in the third quarter. Wellington Management Group LLP now owns 3,843,447 shares of the biopharmaceutical company’s stock valued at $151,317,000 after purchasing an additional 15,226 shares in the last quarter. Braidwell LP lifted its position in Xenon Pharmaceuticals by 5.7% in the third quarter. Braidwell LP now owns 2,707,255 shares of the biopharmaceutical company’s stock worth $106,585,000 after purchasing an additional 146,682 shares during the period. Janus Henderson Group PLC boosted its stake in Xenon Pharmaceuticals by 144.2% during the third quarter. Janus Henderson Group PLC now owns 2,552,392 shares of the biopharmaceutical company’s stock worth $100,506,000 after buying an additional 1,507,135 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Xenon Pharmaceuticals by 1,263.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company’s stock valued at $38,456,000 after buying an additional 905,129 shares in the last quarter. Institutional investors own 95.45% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Ian Mortimer sold 22,468 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $40.20, for a total value of $903,213.60. Following the transaction, the chief executive officer now directly owns 31,302 shares in the company, valued at $1,258,340.40. This trade represents a 41.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.52% of the company’s stock.

Xenon Pharmaceuticals Stock Up 1.4 %

Shares of XENE opened at $35.34 on Monday. The stock’s fifty day simple moving average is $38.14 and its 200-day simple moving average is $39.88. The firm has a market capitalization of $2.71 billion, a PE ratio of -12.53 and a beta of 1.26. Xenon Pharmaceuticals Inc. has a 12-month low of $33.27 and a 12-month high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.89) by $0.05. Analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on XENE shares. William Blair reissued an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. Royal Bank of Canada reissued an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. HC Wainwright reaffirmed a “buy” rating and issued a $53.00 price target on shares of Xenon Pharmaceuticals in a research note on Monday, February 24th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Xenon Pharmaceuticals in a research note on Tuesday, February 11th. They set a “buy” rating and a $67.00 price objective for the company. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, Xenon Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $57.38.

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.