JPMorgan Chase & Co. Purchases 142,452 Shares of Xenon Pharmaceuticals Inc. $XENE

JPMorgan Chase & Co. raised its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 11.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,399,033 shares of the biopharmaceutical company’s stock after purchasing an additional 142,452 shares during the quarter. JPMorgan Chase & Co. owned 1.81% of Xenon Pharmaceuticals worth $56,171,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of XENE. CIBC Bancorp USA Inc. acquired a new stake in shares of Xenon Pharmaceuticals in the third quarter valued at approximately $325,000. Danske Bank A S bought a new position in Xenon Pharmaceuticals in the third quarter valued at $32,000. Verition Fund Management LLC acquired a new stake in Xenon Pharmaceuticals in the 3rd quarter valued at $2,293,000. Quarry LP lifted its position in Xenon Pharmaceuticals by 25.0% during the 3rd quarter. Quarry LP now owns 2,500 shares of the biopharmaceutical company’s stock worth $100,000 after buying an additional 500 shares in the last quarter. Finally, Parkman Healthcare Partners LLC lifted its position in Xenon Pharmaceuticals by 17.1% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 176,137 shares of the biopharmaceutical company’s stock worth $7,072,000 after buying an additional 25,764 shares in the last quarter. 95.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Xenon Pharmaceuticals

In related news, insider Andrea Difabio sold 2,607 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $60.11, for a total value of $156,706.77. Following the transaction, the insider directly owned 4,893 shares in the company, valued at approximately $294,118.23. This represents a 34.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christopher John Kenney sold 2,771 shares of Xenon Pharmaceuticals stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $60.11, for a total transaction of $166,564.81. Following the completion of the sale, the insider owned 4,729 shares of the company’s stock, valued at $284,260.19. This trade represents a 36.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 336,707 shares of company stock valued at $19,622,565 in the last ninety days. 4.07% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on XENE shares. Bank of America reaffirmed a “buy” rating on shares of Xenon Pharmaceuticals in a research report on Monday, March 9th. JPMorgan Chase & Co. boosted their price target on Xenon Pharmaceuticals from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, January 9th. Guggenheim reiterated a “buy” rating and set a $90.00 price objective on shares of Xenon Pharmaceuticals in a research note on Monday, March 9th. Morgan Stanley set a $97.00 price objective on Xenon Pharmaceuticals in a report on Monday, March 9th. Finally, Wolfe Research started coverage on Xenon Pharmaceuticals in a report on Monday, February 23rd. They set an “outperform” rating and a $60.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $71.88.

Xenon Pharmaceuticals Stock Up 0.2%

Xenon Pharmaceuticals stock opened at $55.17 on Friday. The company’s 50-day moving average price is $44.79 and its two-hundred day moving average price is $42.37. The stock has a market cap of $4.59 billion, a P/E ratio of -12.65 and a beta of 0.91. Xenon Pharmaceuticals Inc. has a twelve month low of $26.74 and a twelve month high of $63.95.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings data on Thursday, February 26th. The biopharmaceutical company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.20) by ($0.11). During the same period in the prior year, the company posted ($0.84) earnings per share. Equities analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current fiscal year.

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.