Jennison Associates LLC Buys 26,759 Shares of Xenon Pharmaceuticals Inc. $XENE

Jennison Associates LLC increased its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 2.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,318,814 shares of the biopharmaceutical company’s stock after acquiring an additional 26,759 shares during the quarter. Jennison Associates LLC’s holdings in Xenon Pharmaceuticals were worth $76,689,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC bought a new stake in Xenon Pharmaceuticals in the first quarter valued at approximately $13,963,000. Bank of New York Mellon Corp raised its holdings in Xenon Pharmaceuticals by 2.3% during the 1st quarter. Bank of New York Mellon Corp now owns 396,138 shares of the biopharmaceutical company’s stock worth $23,035,000 after purchasing an additional 8,980 shares during the last quarter. Calamos Advisors LLC acquired a new position in shares of Xenon Pharmaceuticals in the 1st quarter worth approximately $1,766,000. Principal Financial Group Inc. lifted its position in shares of Xenon Pharmaceuticals by 39.1% in the 1st quarter. Principal Financial Group Inc. now owns 6,244 shares of the biopharmaceutical company’s stock worth $363,000 after purchasing an additional 1,756 shares during the period. Finally, Teachers Retirement System of The State of Kentucky bought a new stake in shares of Xenon Pharmaceuticals in the 1st quarter valued at $1,229,000. 95.45% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Xenon Pharmaceuticals

In other Xenon Pharmaceuticals news, Director Gary Patou sold 1,322 shares of Xenon Pharmaceuticals 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 owned 24,896 shares of the company’s stock, valued at $1,322,973.44. This trade represents a 5.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gillian Cannon sold 1,190 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $53.14, for a total value of $63,236.60. Following the completion of the transaction, the director owned 1,455 shares in the company, 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. 2.91% of the stock is owned by company insiders.

Xenon Pharmaceuticals Stock Performance

XENE opened at $68.26 on Monday. The company has a market cap of $6.60 billion, a price-to-earnings ratio of -14.52 and a beta of 0.61. Xenon Pharmaceuticals Inc. has a 1-year low of $30.00 and a 1-year high of $72.66. The company’s fifty day moving average price is $57.24 and its two-hundred day moving average price is $51.92.

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 prior year, the business posted ($0.83) earnings per share. As a group, equities analysts forecast that Xenon Pharmaceuticals Inc. will post -4.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Xenon Pharmaceuticals 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.