Lazard Asset Management LLC Has $2.95 Million Stake in Xenon Pharmaceuticals Inc. $XENE

Lazard Asset Management LLC trimmed its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 35.5% during the first quarter, HoldingsChannel.com reports. The fund owned 50,755 shares of the biopharmaceutical company’s stock after selling 27,908 shares during the quarter. Lazard Asset Management LLC’s holdings in Xenon Pharmaceuticals were worth $2,951,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of XENE. Goldman Sachs Group Inc. lifted 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 valued at $14,854,000 after acquiring an additional 32,486 shares during the period. Jump Financial LLC bought a new stake in shares of Xenon Pharmaceuticals in the 2nd quarter worth about $532,000. Sei Investments Co. bought a new stake in shares of Xenon Pharmaceuticals in the 2nd quarter worth about $711,000. The Manufacturers Life Insurance Company bought a new stake in shares of Xenon Pharmaceuticals in the 2nd quarter worth about $816,000. Finally, Alliancebernstein L.P. increased its position in shares of Xenon Pharmaceuticals by 14.2% during the 2nd quarter. Alliancebernstein L.P. now owns 1,518,527 shares of the biopharmaceutical company’s stock worth $47,530,000 after purchasing an additional 189,141 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Wall Street Zen raised shares of Xenon Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday. Wells Fargo & Company reaffirmed an “overweight” rating and set a $69.00 price objective on shares of Xenon Pharmaceuticals in a research note on Sunday, May 10th. JPMorgan Chase & Co. raised their price objective on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Wednesday, May 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research note on Monday, July 6th. Finally, Royal Bank Of Canada boosted their target price on Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Xenon Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $77.20.

Insider Buying and Selling

In other news, Director Gary Patou sold 1,322 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $53.14, for a total transaction of $70,251.08. Following the transaction, the director directly owned 24,896 shares in the company, valued at approximately $1,322,973.44. This represents a 5.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gillian Cannon sold 1,190 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $53.14, for a total transaction of $63,236.60. Following the sale, the director directly owned 1,455 shares in the company, valued at $77,318.70. This trade represents a 44.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.91% of the stock is currently owned by corporate insiders.

Xenon Pharmaceuticals Stock Down 2.4%

Xenon Pharmaceuticals stock opened at $62.67 on Friday. The stock has a 50-day simple moving average of $59.30 and a 200 day simple moving average of $53.40. Xenon Pharmaceuticals Inc. has a 12-month low of $30.00 and a 12-month high of $72.66. The stock has a market capitalization of $6.06 billion, a price-to-earnings ratio of -13.33 and a beta of 0.61.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.17) EPS for the quarter, hitting analysts’ consensus estimates of ($1.17). During the same quarter in the prior year, the business posted ($0.83) EPS. As a group, sell-side analysts anticipate that Xenon Pharmaceuticals Inc. will post -4.92 EPS for the current year.

About Xenon Pharmaceuticals

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.