Orbimed Advisors LLC Acquires 612,771 Shares of Xenon Pharmaceuticals Inc. $XENE

Orbimed Advisors LLC increased its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 137.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,059,971 shares of the biopharmaceutical company’s stock after purchasing an additional 612,771 shares during the quarter. Xenon Pharmaceuticals makes up approximately 1.1% of Orbimed Advisors LLC’s investment portfolio, making the stock its 22nd biggest position. Orbimed Advisors LLC owned approximately 1.10% of Xenon Pharmaceuticals worth $61,637,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Holocene Advisors LP bought a new stake in Xenon Pharmaceuticals during the 2nd quarter worth approximately $56,637,000. Wellington Management Group LLP boosted its position in shares of Xenon Pharmaceuticals by 66.0% in the third quarter. Wellington Management Group LLP now owns 3,609,857 shares of the biopharmaceutical company’s stock worth $144,936,000 after purchasing an additional 1,435,096 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Xenon Pharmaceuticals by 1,968.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 862,300 shares of the biopharmaceutical company’s stock worth $38,650,000 after purchasing an additional 820,608 shares in the last quarter. Vestal Point Capital LP increased its stake in shares of Xenon Pharmaceuticals by 53.8% in the second quarter. Vestal Point Capital LP now owns 2,000,000 shares of the biopharmaceutical company’s stock worth $62,600,000 after purchasing an additional 700,000 shares in the last quarter. Finally, Commodore Capital LP increased its stake in shares of Xenon Pharmaceuticals by 30.1% in the second quarter. Commodore Capital LP now owns 3,025,000 shares of the biopharmaceutical company’s stock worth $94,682,000 after purchasing an additional 700,000 shares in the last quarter. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

XENE has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on Xenon Pharmaceuticals from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Wednesday, May 27th. Needham & Company LLC cut their target price on Xenon Pharmaceuticals from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Royal Bank Of Canada lifted their target price on Xenon Pharmaceuticals from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a report on Monday, July 6th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $69.00 price target on shares of Xenon Pharmaceuticals in a report on Sunday, May 10th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $77.20.

Insiders Place Their Bets

In other news, Director Gillian Cannon sold 1,190 shares of the business’s 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 sale, the director directly owned 1,455 shares in the company, valued at $77,318.70. The trade was a 44.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gary Patou sold 1,322 shares of the business’s 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 sale, the director owned 24,896 shares in the company, valued at approximately $1,322,973.44. This trade represents a 5.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.91% of the stock is owned by corporate insiders.

Xenon Pharmaceuticals Stock Performance

Shares of Xenon Pharmaceuticals stock opened at $65.42 on Monday. The stock has a 50 day moving average of $58.30 and a 200 day moving average of $52.69. Xenon Pharmaceuticals Inc. has a 12 month low of $30.00 and a 12 month high of $72.66. The firm has a market cap of $6.32 billion, a PE ratio of -13.92 and a beta of 0.61.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.17) earnings per share for the quarter, meeting the consensus estimate of ($1.17). During the same period in the previous year, the firm posted ($0.83) EPS. As a group, equities research analysts forecast that Xenon Pharmaceuticals Inc. will post -4.92 earnings per share for the current fiscal year.

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.