Parkman Healthcare Partners LLC Buys New Position in Xenon Pharmaceuticals Inc. $XENE

Parkman Healthcare Partners LLC bought a new stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) during the second quarter, HoldingsChannel.com reports. The fund bought 397,379 shares of the biopharmaceutical company’s stock, valued at approximately $23,986,000. Xenon Pharmaceuticals accounts for approximately 2.5% of Parkman Healthcare Partners LLC’s holdings, making the stock its 11th largest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its holdings in shares of Xenon Pharmaceuticals by 7.9% during the first quarter. Goldman Sachs Group Inc. now owns 442,732 shares of the biopharmaceutical company’s stock worth $14,854,000 after buying an additional 32,486 shares in the last quarter. Jump Financial LLC purchased a new position in shares of Xenon Pharmaceuticals during the second quarter valued at approximately $532,000. Sei Investments Co. acquired a new stake in Xenon Pharmaceuticals during the second quarter worth approximately $711,000. The Manufacturers Life Insurance Company acquired a new stake in Xenon Pharmaceuticals during the second quarter worth approximately $816,000. Finally, Alliancebernstein L.P. grew its stake in Xenon Pharmaceuticals by 14.2% in the 2nd quarter. Alliancebernstein L.P. now owns 1,518,527 shares of the biopharmaceutical company’s stock worth $47,530,000 after acquiring an additional 189,141 shares during the period. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

XENE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research note on Monday, July 6th. Needham & Company LLC reduced their target price on Xenon Pharmaceuticals from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Wells Fargo & Company reissued an “overweight” rating and issued a $69.00 price target on shares of Xenon Pharmaceuticals in a research note on Sunday, May 10th. Finally, HC Wainwright restated a “buy” rating and issued a $74.00 price target on shares of Xenon Pharmaceuticals in a report on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $77.13.

Xenon Pharmaceuticals Trading Down 0.3%

Shares of XENE opened at $60.56 on Tuesday. The firm has a market capitalization of $5.85 billion, a P/E ratio of -12.78 and a beta of 0.62. The stock’s fifty day simple moving average is $62.48 and its 200 day simple moving average is $55.92. Xenon Pharmaceuticals Inc. has a twelve month low of $35.60 and a twelve month high of $72.66.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($1.11) EPS for the quarter, topping analysts’ consensus estimates of ($1.16) by $0.05. During the same period in the previous year, the company earned ($1.07) earnings per share. Sell-side analysts predict that Xenon Pharmaceuticals Inc. will post -4.73 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Steven Gannon sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $64.06, for a total value of $640,600.00. Following the completion of the transaction, the director directly owned 1,870 shares in the company, valued at approximately $119,792.20. This represents a 84.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gillian Cannon sold 1,190 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $53.14, for a total value of $63,236.60. Following the sale, the director owned 1,455 shares of the company’s stock, valued at $77,318.70. This represents a 44.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 12,512 shares of company stock worth $774,088 over the last quarter. 2.91% of the stock is owned by corporate insiders.

Xenon Pharmaceuticals Profile

Xenon Pharmaceuticals Inc is a clinical?stage biopharmaceutical company dedicated to discovering and developing novel, small?molecule drugs targeting ion channels in the central and peripheral nervous system. The company’s research focus centers on neurological and pain disorders—including epilepsy, migraine, and neuropathic pain—by modulating key ion?channel proteins to restore normal neuronal function. Xenon’s scientific platform draws upon advances in ion?channel biology and structure?based drug design to identify and optimize therapeutic candidates with the potential for improved safety and efficacy profiles compared with existing treatments.

The company’s pipeline comprises multiple preclinical and clinical programs.