Moran Wealth Management LLC Has $2.65 Million Stock Position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

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

A number of other institutional investors have also recently bought and sold shares of the company. Braidwell LP lifted its position in shares of Xenon Pharmaceuticals by 38.0% in the first quarter. Braidwell LP now owns 2,137,110 shares of the biopharmaceutical company’s stock worth $76,487,000 after buying an additional 589,000 shares during the last quarter. BVF Inc. IL increased its stake in shares of Xenon Pharmaceuticals by 43.8% in the first quarter. BVF Inc. IL now owns 1,827,958 shares of the biopharmaceutical company’s stock worth $65,423,000 after purchasing an additional 556,715 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Xenon Pharmaceuticals by 322.6% in the first quarter. Goldman Sachs Group Inc. now owns 724,337 shares of the biopharmaceutical company’s stock worth $22,143,000 after purchasing an additional 552,943 shares during the period. Fiera Capital Corp bought a new position in shares of Xenon Pharmaceuticals in the second quarter worth about $21,150,000. Finally, Millennium Management LLC increased its stake in Xenon Pharmaceuticals by 261.4% during the second quarter. Millennium Management LLC now owns 492,691 shares of the biopharmaceutical company’s stock valued at $14,988,000 after acquiring an additional 356,365 shares during the period. Institutional investors and hedge funds own 95.70% of the company’s stock.

Insider Transactions at Xenon Pharmaceuticals

In other Xenon Pharmaceuticals news, Director Dawn Svoronos sold 25,000 shares of the company’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $38.70, for a total transaction of $967,500.00. Following the transaction, the director now owns 25,000 shares of the company’s stock, valued at approximately $967,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 5.43% of the stock is owned by company insiders.

Xenon Pharmaceuticals Price Performance

Shares of XENE opened at $29.09 on Tuesday. The company has a market capitalization of $1.90 billion, a P/E ratio of -10.98 and a beta of 1.31. Xenon Pharmaceuticals Inc. has a one year low of $27.99 and a one year high of $43.75. The business’s 50 day simple moving average is $33.53 and its 200-day simple moving average is $37.20.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.73) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.02. During the same period last year, the company earned ($0.57) earnings per share. On average, sell-side analysts anticipate that Xenon Pharmaceuticals Inc. will post -2.87 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.