Octagon Capital Advisors LP Invests $28.49 Million in Xenon Pharmaceuticals Inc. $XENE

Octagon Capital Advisors LP purchased a new position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) during the first quarter, Holdings Channel.com reports. The fund purchased 490,000 shares of the biopharmaceutical company’s stock, valued at approximately $28,494,000. Xenon Pharmaceuticals makes up approximately 3.2% of Octagon Capital Advisors LP’s holdings, making the stock its 13th biggest position.

A number of other hedge funds also recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its stake in shares of Xenon Pharmaceuticals by 7.9% in the first quarter. Goldman Sachs Group Inc. now owns 442,732 shares of the biopharmaceutical company’s stock worth $14,854,000 after acquiring an additional 32,486 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of Xenon Pharmaceuticals in the second quarter valued at about $532,000. Sei Investments Co. purchased a new stake in shares of Xenon Pharmaceuticals in the 2nd quarter valued at approximately $711,000. The Manufacturers Life Insurance Company purchased a new position in Xenon Pharmaceuticals in the second quarter worth approximately $816,000. Finally, Alliancebernstein L.P. grew its holdings 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 during the period. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Insider Buying and Selling

In related news, Director Gary Patou sold 1,322 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $53.14, for a total value of $70,251.08. Following the completion of the sale, the director owned 24,896 shares in the company, valued at $1,322,973.44. This represents a 5.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gillian Cannon sold 1,190 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $53.14, for a total transaction of $63,236.60. Following the sale, the director owned 1,455 shares of the company’s stock, valued at approximately $77,318.70. This represents a 44.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 2.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research report on Monday, July 6th. Royal Bank Of Canada raised their price objective on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Wells Fargo & Company restated an “overweight” rating and issued a $69.00 price objective on shares of Xenon Pharmaceuticals in a report on Sunday, May 10th. JPMorgan Chase & Co. upped their target price on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. Finally, Needham & Company LLC reduced their target price on shares of Xenon Pharmaceuticals from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Two investment 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. According to data from MarketBeat, Xenon Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $77.20.

Xenon Pharmaceuticals Stock Performance

Shares of NASDAQ:XENE opened at $65.42 on Monday. The firm has a 50 day simple moving average of $58.30 and a 200-day simple moving average of $52.69. Xenon Pharmaceuticals Inc. has a twelve month low of $30.00 and a twelve month high of $72.66. The company has a market capitalization of $6.32 billion, a PE ratio of -13.92 and a beta of 0.61.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.17) EPS for the quarter, hitting the consensus estimate of ($1.17). During the same quarter last year, the business earned ($0.83) EPS. As a group, equities research analysts predict that Xenon Pharmaceuticals Inc. will post -4.92 EPS for the current fiscal year.

Xenon Pharmaceuticals Company 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.