Algert Global LLC Has $8.65 Million Stock Holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Algert Global LLC boosted its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 19.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 219,645 shares of the biopharmaceutical company’s stock after buying an additional 36,440 shares during the quarter. Algert Global LLC’s holdings in Xenon Pharmaceuticals were worth $8,647,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its position in shares of Xenon Pharmaceuticals by 174.7% during the 3rd quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 641 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Xenon Pharmaceuticals during the third quarter worth $102,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in 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 lifted its stake in 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 buying an additional 2,700 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in Xenon Pharmaceuticals by 12.0% during the first quarter. ProShare Advisors LLC now owns 5,286 shares of the biopharmaceutical company’s stock worth $228,000 after buying an additional 565 shares during the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Xenon Pharmaceuticals

In related news, Director Gary Patou sold 4,891 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $41.08, for a total transaction of $200,922.28. Following the sale, the director now owns 23,573 shares in the company, valued at approximately $968,378.84. This represents a 17.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 5.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on XENE shares. Wedbush lowered their price target on Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. HC Wainwright reaffirmed a “buy” rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a research note on Wednesday, November 13th. Needham & Company LLC reissued a “buy” rating and set a $60.00 price target on shares of Xenon Pharmaceuticals in a research report on Wednesday, November 13th. Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 price objective on shares of Xenon Pharmaceuticals in a research report on Friday, August 9th. Finally, Raymond James reiterated an “outperform” rating and set a $50.00 target price on shares of Xenon Pharmaceuticals in a report on Thursday, October 10th. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Xenon Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $57.45.

Xenon Pharmaceuticals Price Performance

XENE opened at $41.15 on Friday. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of -14.59 and a beta of 1.25. The business’s 50-day moving average price is $41.23 and its two-hundred day moving average price is $40.23. Xenon Pharmaceuticals Inc. has a 1 year low of $28.20 and a 1 year high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.01. During the same period in the prior year, the company earned ($0.73) EPS. Sell-side analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current fiscal year.

Xenon Pharmaceuticals 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.