Sofinnova Investments Inc. Invests $2.69 Million in Xenon Pharmaceuticals Inc. $XENE

Sofinnova Investments Inc. bought a new position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) during the fourth quarter, Holdings Channel reports. The firm bought 59,900 shares of the biopharmaceutical company’s stock, valued at approximately $2,685,000.

A number of other hedge funds also recently made changes to their positions in the business. State of Wyoming raised its stake in shares of Xenon Pharmaceuticals by 30.4% during the 4th quarter. State of Wyoming now owns 1,501 shares of the biopharmaceutical company’s stock worth $67,000 after purchasing an additional 350 shares during the period. Quarry LP raised its stake in shares of 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 purchasing an additional 500 shares during the period. Altfest L J & Co. Inc. raised its stake in shares of Xenon Pharmaceuticals by 6.5% during the 4th quarter. Altfest L J & Co. Inc. now owns 8,232 shares of the biopharmaceutical company’s stock worth $369,000 after purchasing an additional 501 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Xenon Pharmaceuticals by 11.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,574 shares of the biopharmaceutical company’s stock worth $295,000 after purchasing an additional 675 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Xenon Pharmaceuticals by 2,560.7% during the 4th quarter. Blue Trust Inc. now owns 745 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 717 shares during the period. 95.45% of the stock is currently owned by institutional investors.

Insider Transactions at Xenon Pharmaceuticals

In other Xenon Pharmaceuticals news, Director Gary Patou sold 1,322 shares of Xenon Pharmaceuticals stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $53.14, for a total transaction of $70,251.08. Following the completion of the transaction, the director owned 24,896 shares of the company’s stock, valued at $1,322,973.44. The trade was a 5.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gillian Cannon sold 1,190 shares of Xenon Pharmaceuticals stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $53.14, for a total value of $63,236.60. Following the transaction, the director directly owned 1,455 shares of the company’s stock, valued at $77,318.70. The trade was a 44.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.07% of the stock is owned by insiders.

Xenon Pharmaceuticals Stock Up 0.6%

XENE stock opened at $52.40 on Tuesday. The firm has a market capitalization of $5.07 billion, a PE ratio of -11.15 and a beta of 0.62. Xenon Pharmaceuticals Inc. has a twelve month low of $30.00 and a twelve month high of $63.95. The stock has a 50-day simple moving average of $55.33 and a two-hundred day simple moving average of $49.05.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.17) earnings per share for the quarter, meeting analysts’ consensus estimates of ($1.17). During the same period in the previous year, the business posted ($0.83) EPS. On average, equities research analysts anticipate that Xenon Pharmaceuticals Inc. will post -4.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on XENE shares. Guggenheim reissued a “buy” rating and issued a $90.00 price objective on shares of Xenon Pharmaceuticals in a report on Monday, March 9th. HC Wainwright lifted their price objective on Xenon Pharmaceuticals from $53.00 to $74.00 and gave the stock a “buy” rating in a report on Tuesday, March 10th. Morgan Stanley set a $97.00 price objective on Xenon Pharmaceuticals in a report on Monday, March 9th. Robert W. Baird lifted their price objective on Xenon Pharmaceuticals from $63.00 to $97.00 and gave the stock an “outperform” rating in a report on Monday, March 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a report on Wednesday, April 8th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $77.20.

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.