BVF Inc. IL Boosts Stock Position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Posted by Defense World Staff on Sep 12th, 2023

BVF Inc. IL raised its position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE – Free Report) by 43.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,827,958 shares of the biopharmaceutical company’s stock after purchasing an additional 556,715 shares during the quarter. Xenon Pharmaceuticals accounts for 2.4% of BVF Inc. IL’s portfolio, making the stock its 14th largest position. BVF Inc. IL owned approximately 2.88% of Xenon Pharmaceuticals worth $65,423,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Cheyne Capital Management UK LLP purchased a new stake in shares of Xenon Pharmaceuticals in the fourth quarter worth about $1,676,000. Moore Capital Management LP boosted its stake in shares of Xenon Pharmaceuticals by 25.7% in the fourth quarter. Moore Capital Management LP now owns 129,417 shares of the biopharmaceutical company’s stock worth $5,103,000 after buying an additional 26,440 shares during the last quarter. Driehaus Capital Management LLC boosted its stake in shares of Xenon Pharmaceuticals by 3.9% in the fourth quarter. Driehaus Capital Management LLC now owns 4,681,797 shares of the biopharmaceutical company’s stock worth $184,603,000 after buying an additional 177,777 shares during the last quarter. Nicholas Investment Partners LP boosted its stake in shares of Xenon Pharmaceuticals by 73.1% in the first quarter. Nicholas Investment Partners LP now owns 436,715 shares of the biopharmaceutical company’s stock worth $15,630,000 after buying an additional 184,413 shares during the last quarter. Finally, Lord Abbett & CO. LLC boosted its stake in shares of Xenon Pharmaceuticals by 11.0% in the fourth quarter. Lord Abbett & CO. LLC now owns 2,124,009 shares of the biopharmaceutical company’s stock worth $83,749,000 after buying an additional 210,148 shares during the last quarter. Hedge funds and other institutional investors own 95.70% of the company’s stock.

Xenon Pharmaceuticals Trading Down 2.0 %

Shares of NASDAQ XENE opened at $37.38 on Tuesday. The stock has a market cap of $2.40 billion, a P/E ratio of -15.01 and a beta of 1.34. Xenon Pharmaceuticals Inc. has a 12-month low of $31.79 and a 12-month high of $43.75. The business’s fifty day simple moving average is $37.86 and its 200-day simple moving average is $38.31.

Xenon Pharmaceuticals (NASDAQ:XENE – Get Free Report) last posted its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.03). During the same period last year, the business posted ($0.55) earnings per share. The business’s revenue for the quarter was down 100.0% compared to the same quarter last year. On average, equities analysts forecast that Xenon Pharmaceuticals Inc. will post -2.89 EPS for the current fiscal year.

Insider Buying and Selling at Xenon Pharmaceuticals

In other Xenon Pharmaceuticals news, Director Dawn Svoronos sold 25,000 shares of Xenon Pharmaceuticals stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $38.70, for a total value of $967,500.00. Following the sale, the director now owns 25,000 shares of the company’s stock, valued at approximately $967,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.43% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on XENE. StockNews.com began coverage on Xenon Pharmaceuticals in a report on Thursday, August 17th. They issued a “sell” rating for the company. Wedbush reaffirmed an “outperform” rating and issued a $47.00 price target on shares of Xenon Pharmaceuticals in a report on Thursday, August 10th. Cantor Fitzgerald reissued an “overweight” rating and set a $58.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, August 22nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $50.00 target price on shares of Xenon Pharmaceuticals in a report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Xenon Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $52.40.

Read Our Latest Stock Analysis on XENE

Xenon Pharmaceuticals Profile

(Free Report)

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.