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

Algert Global LLC boosted its stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 19.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 219,645 shares of the biopharmaceutical company’s stock after purchasing an additional 36,440 shares during the quarter. Algert Global LLC owned about 0.29% of Xenon Pharmaceuticals worth $8,647,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. grew its position in shares of Xenon Pharmaceuticals by 647.8% in the second quarter. Harbor Capital Advisors Inc. now owns 24,116 shares of the biopharmaceutical company’s stock valued at $940,000 after purchasing an additional 20,891 shares during the last quarter. DNB Asset Management AS grew its holdings in Xenon Pharmaceuticals by 39.2% in the 2nd quarter. DNB Asset Management AS now owns 175,733 shares of the biopharmaceutical company’s stock valued at $6,852,000 after buying an additional 49,483 shares during the last quarter. Driehaus Capital Management LLC increased its position in Xenon Pharmaceuticals by 2.3% in the 2nd quarter. Driehaus Capital Management LLC now owns 4,419,472 shares of the biopharmaceutical company’s stock worth $172,315,000 after buying an additional 97,732 shares during the period. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Xenon Pharmaceuticals during the second quarter worth approximately $1,574,000. Finally, Blue Trust Inc. boosted its position 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 acquiring an additional 641 shares during the period. Institutional investors and hedge funds own 95.45% of the company’s stock.

Xenon Pharmaceuticals Trading Up 3.4 %

Shares of Xenon Pharmaceuticals stock opened at $41.15 on Friday. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of -14.59 and a beta of 1.25. The firm’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 announced 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 earned ($0.73) earnings per share. As a group, equities research analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current year.

Analyst Upgrades and Downgrades

XENE has been the subject of several research analyst reports. Wedbush cut 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 note on Friday, August 9th. William Blair raised shares of Xenon Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 target price on shares of Xenon Pharmaceuticals in a research report on Friday, August 9th. HC Wainwright reaffirmed a “buy” rating and issued a $53.00 price target on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th. Finally, Raymond James reissued an “outperform” rating and set a $50.00 price objective on shares of Xenon Pharmaceuticals in a report on Thursday, October 10th. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $57.45.

Insider Transactions at Xenon Pharmaceuticals

In other Xenon Pharmaceuticals news, Director Gary Patou sold 4,891 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were 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 directly owns 23,573 shares of the company’s stock, valued at approximately $968,378.84. The trade was a 17.18 % decrease in their ownership of the stock. The sale 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.

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.