Vestcor Inc Takes $327,000 Position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Vestcor Inc acquired a new position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 8,300 shares of the biopharmaceutical company’s stock, valued at approximately $327,000.

Several other large investors also recently added to or reduced their stakes in XENE. Blue Trust Inc. raised its position in Xenon Pharmaceuticals by 174.7% in the third quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 641 shares during the period. nVerses Capital LLC bought a new position in Xenon Pharmaceuticals in the 3rd quarter worth $102,000. Mirae Asset Global Investments Co. Ltd. lifted its position in 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 purchasing an additional 487 shares in the last quarter. Quarry LP grew its holdings in Xenon Pharmaceuticals by 207.7% during the second quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock valued at $156,000 after purchasing an additional 2,700 shares during the period. Finally, XTX Topco Ltd purchased a new stake in Xenon Pharmaceuticals in the second quarter worth about $464,000. 95.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on XENE shares. William Blair upgraded Xenon Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price target on shares of Xenon Pharmaceuticals in a research report on Wednesday, November 13th. HC Wainwright restated a “buy” rating and set a $53.00 price objective on shares of Xenon Pharmaceuticals in a research report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, September 3rd. Finally, Raymond James restated an “outperform” rating and issued a $50.00 price objective on shares of Xenon Pharmaceuticals in a research report on Thursday, October 10th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Xenon Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $56.90.

Xenon Pharmaceuticals Trading Up 1.5 %

NASDAQ:XENE opened at $40.05 on Friday. The business’s 50-day moving average is $41.93 and its 200 day moving average is $40.40. Xenon Pharmaceuticals Inc. has a 12 month low of $35.53 and a 12 month high of $50.99. The company has a market capitalization of $3.05 billion, a P/E ratio of -14.21 and a beta of 1.19.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.82) by $0.01. During the same period in the previous year, the firm earned ($0.73) EPS. On average, research analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

Insider Activity at Xenon Pharmaceuticals

In other Xenon Pharmaceuticals news, Director Gary Patou sold 4,891 shares of the business’s 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 sale, the director now directly owns 23,573 shares of the company’s stock, valued at $968,378.84. The trade was a 17.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 5.52% of the stock is owned by insiders.

About Xenon Pharmaceuticals

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.