DNB Asset Management AS Buys 49,483 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

DNB Asset Management AS grew its position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 39.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 175,733 shares of the biopharmaceutical company’s stock after buying an additional 49,483 shares during the quarter. DNB Asset Management AS owned 0.23% of Xenon Pharmaceuticals worth $6,852,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Tower Research Capital LLC TRC raised its holdings in shares of Xenon Pharmaceuticals by 414.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,014 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 817 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Xenon Pharmaceuticals by 51.2% during the 4th quarter. Parallel Advisors LLC now owns 1,125 shares of the biopharmaceutical company’s stock valued at $52,000 after buying an additional 381 shares during the period. PNC Financial Services Group Inc. purchased a new position in shares of Xenon Pharmaceuticals in the 4th quarter worth $91,000. 17 Capital Partners LLC purchased a new position in shares of Xenon Pharmaceuticals in the 1st quarter worth $122,000. Finally, EntryPoint Capital LLC purchased a new stake in Xenon Pharmaceuticals during the first quarter valued at $195,000. Institutional investors own 95.45% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on XENE. Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 target price on shares of Xenon Pharmaceuticals in a research report on Wednesday, April 10th. Wedbush cut their target price on shares of Xenon Pharmaceuticals from $51.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. Citigroup decreased their price target on shares of Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Needham & Company LLC reissued a “buy” rating and set a $62.00 price objective on shares of Xenon Pharmaceuticals in a research report on Friday, May 10th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $55.00 price objective on shares of Xenon Pharmaceuticals in a research note on Tuesday, June 18th. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $59.11.

Xenon Pharmaceuticals Price Performance

Shares of NASDAQ XENE traded up $0.52 during mid-day trading on Tuesday, reaching $42.00. The company’s stock had a trading volume of 300,002 shares, compared to its average volume of 407,279. The stock has a fifty day moving average of $39.53 and a two-hundred day moving average of $42.37. The firm has a market capitalization of $3.17 billion, a PE ratio of -15.45 and a beta of 1.26. Xenon Pharmaceuticals Inc. has a 52 week low of $27.99 and a 52 week high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.62) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.07. The business had revenue of $1.00 million during the quarter. During the same period last year, the firm earned ($0.63) EPS. Xenon Pharmaceuticals’s revenue for the quarter was up .0% compared to the same quarter last year. Analysts anticipate that Xenon Pharmaceuticals Inc. will post -2.98 EPS for the current fiscal year.

Xenon Pharmaceuticals 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.