Alliancebernstein L.P. Raises Stock Holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Alliancebernstein L.P. lifted its holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,443,180 shares of the biopharmaceutical company’s stock after purchasing an additional 18,445 shares during the quarter. Alliancebernstein L.P. owned 1.89% of Xenon Pharmaceuticals worth $56,573,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. JPMorgan Chase & Co. grew 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 worth $38,456,000 after buying an additional 905,129 shares in the last quarter. Jennison Associates LLC grew its position in Xenon Pharmaceuticals by 39.0% in the fourth quarter. Jennison Associates LLC now owns 801,553 shares of the biopharmaceutical company’s stock worth $31,421,000 after acquiring an additional 224,892 shares in the last quarter. TimesSquare Capital Management LLC grew its position in Xenon Pharmaceuticals by 9.1% in the fourth quarter. TimesSquare Capital Management LLC now owns 848,850 shares of the biopharmaceutical company’s stock worth $33,275,000 after acquiring an additional 70,557 shares in the last quarter. Two Sigma Advisers LP increased its stake in Xenon Pharmaceuticals by 31.0% during the third quarter. Two Sigma Advisers LP now owns 273,700 shares of the biopharmaceutical company’s stock worth $10,776,000 after acquiring an additional 64,800 shares during the last quarter. Finally, BIT Capital GmbH purchased a new stake in Xenon Pharmaceuticals during the fourth quarter valued at approximately $2,114,000. Institutional investors own 95.45% of the company’s stock.

Xenon Pharmaceuticals Stock Performance

Shares of XENE opened at $29.40 on Friday. The stock has a market capitalization of $2.25 billion, a PE ratio of -10.43 and a beta of 1.21. The company has a 50 day moving average price of $36.90 and a 200-day moving average price of $39.43. Xenon Pharmaceuticals Inc. has a fifty-two week low of $29.20 and a fifty-two week high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.05. Equities research analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Ian Mortimer sold 16,315 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $40.50, for a total value of $660,757.50. Following the completion of the sale, the chief executive officer now owns 31,302 shares of the company’s stock, valued at $1,267,731. This trade represents a 34.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.52% of the company’s stock.

Wall Street Analysts Forecast Growth

XENE has been the subject of a number of recent research reports. HC Wainwright reiterated a “buy” rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a report on Monday, February 24th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating and a $67.00 price objective on the stock. William Blair restated an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. StockNews.com upgraded shares of Xenon Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, March 29th. Finally, Royal Bank of Canada reissued an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $57.38.

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.