Loomis Sayles & Co. L P Buys 46,964 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Loomis Sayles & Co. L P grew its stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 7.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 707,222 shares of the biopharmaceutical company’s stock after acquiring an additional 46,964 shares during the quarter. Loomis Sayles & Co. L P owned about 0.93% of Xenon Pharmaceuticals worth $27,843,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Blue Trust Inc. increased its stake in Xenon Pharmaceuticals by 174.7% during the 3rd quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 641 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Xenon Pharmaceuticals during the third quarter valued at approximately $102,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Xenon Pharmaceuticals by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company’s stock valued at $106,000 after acquiring an additional 487 shares in the last quarter. Quarry LP raised its holdings in Xenon Pharmaceuticals by 207.7% in the 2nd quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock worth $156,000 after acquiring an additional 2,700 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in Xenon Pharmaceuticals by 12.0% in the 1st quarter. ProShare Advisors LLC now owns 5,286 shares of the biopharmaceutical company’s stock valued at $228,000 after acquiring an additional 565 shares in the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Xenon Pharmaceuticals Stock Performance

Shares of Xenon Pharmaceuticals stock opened at $41.68 on Tuesday. The stock’s 50-day simple moving average is $41.26 and its 200-day simple moving average is $40.19. Xenon Pharmaceuticals Inc. has a 52 week low of $29.00 and a 52 week high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) EPS for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.01. During the same period in the previous year, the firm earned ($0.73) earnings per share. Research analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current fiscal year.

Insider Activity at Xenon Pharmaceuticals

In related news, Director Gary Patou sold 4,891 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $41.08, for a total transaction of $200,922.28. Following the completion of the transaction, the director now directly owns 23,573 shares of the company’s stock, valued at approximately $968,378.84. This represents a 17.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.52% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on XENE. Royal Bank of Canada reissued an “outperform” rating and issued a $55.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd. Raymond James reiterated an “outperform” rating and issued a $50.00 price objective on shares of Xenon Pharmaceuticals in a report on Thursday, October 10th. Needham & Company LLC restated a “buy” rating and set a $60.00 target price on shares of Xenon Pharmaceuticals in a research note on Wednesday, November 13th. William Blair raised shares of Xenon Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Finally, Wedbush decreased their price objective on shares of Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $57.45.

Xenon Pharmaceuticals Profile

Xenon Pharmaceuticals Inc, a neuroscience-focused biopharmaceutical company, engages in the development of therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN1101, a novel and potent Kv7 potassium channel opener, which is in Phase 3 clinical trials for the treatment of epilepsy and other neurological disorders.