Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Shares Acquired by Moran Wealth Management LLC

Moran Wealth Management LLC grew its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 1.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,930 shares of the biopharmaceutical company’s stock after purchasing an additional 1,317 shares during the period. Moran Wealth Management LLC owned approximately 0.11% of Xenon Pharmaceuticals worth $2,654,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of XENE. Bank of Montreal Can acquired a new position in Xenon Pharmaceuticals during the second quarter worth $7,833,000. Arizona State Retirement System grew its holdings in Xenon Pharmaceuticals by 4.2% during the second quarter. Arizona State Retirement System now owns 14,165 shares of the biopharmaceutical company’s stock worth $545,000 after acquiring an additional 574 shares during the period. Fiera Capital Corp acquired a new position in Xenon Pharmaceuticals during the second quarter worth $21,150,000. Parallel Advisors LLC purchased a new stake in Xenon Pharmaceuticals during the second quarter worth $30,000. Finally, First Light Asset Management LLC purchased a new stake in Xenon Pharmaceuticals during the first quarter worth $10,001,000. Institutional investors and hedge funds own 95.70% of the company’s stock.

Insider Activity

In other news, Director Dawn Svoronos sold 25,000 shares of the stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $38.70, for a total value of $967,500.00. Following the completion of the sale, the director now owns 25,000 shares in the company, valued at $967,500. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 5.43% of the company’s stock.

Xenon Pharmaceuticals Price Performance

Shares of NASDAQ:XENE opened at $29.09 on Tuesday. The firm has a market capitalization of $1.90 billion, a PE ratio of -10.98 and a beta of 1.31. The business has a 50-day moving average of $33.53 and a two-hundred day moving average of $37.20. Xenon Pharmaceuticals Inc. has a 12 month low of $27.99 and a 12 month high of $43.75.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.73) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.02. During the same period last year, the business posted ($0.57) earnings per share. As a group, research analysts anticipate that Xenon Pharmaceuticals Inc. will post -2.87 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $51.00 target price on shares of Xenon Pharmaceuticals in a research report on Friday, September 22nd. StockNews.com started coverage on Xenon Pharmaceuticals in a research report on Thursday, October 5th. They issued a “sell” rating on the stock. Wedbush reduced their price objective on Xenon Pharmaceuticals from $47.00 to $46.00 and set an “outperform” rating on the stock in a research report on Thursday, November 9th. Needham & Company LLC restated a “buy” rating and issued a $50.00 price objective on shares of Xenon Pharmaceuticals in a research report on Thursday, August 10th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Xenon Pharmaceuticals in a research report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $52.75.

Xenon Pharmaceuticals Company Profile

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.