Cibc World Market Inc. Makes New Investment in Xenon Pharmaceuticals Inc. $XENE

Cibc World Market Inc. purchased a new stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 19,960 shares of the biopharmaceutical company’s stock, valued at approximately $1,205,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Xenon Pharmaceuticals during the second quarter worth $1,832,000. Northwestern Mutual Wealth Management Co. bought a new stake in Xenon Pharmaceuticals in the 2nd quarter valued at $302,000. Quantbot Technologies LP bought a new stake in Xenon Pharmaceuticals in the 2nd quarter valued at $57,000. Citizens Financial Group Inc. RI acquired a new position in Xenon Pharmaceuticals in the 2nd quarter worth $319,000. Finally, BlackRock Inc. bought a new position in Xenon Pharmaceuticals during the 2nd quarter worth about $454,057,000. Institutional investors and hedge funds own 95.45% of the company’s stock.

Insider Buying and Selling

In other Xenon Pharmaceuticals news, Director Steven Gannon sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $64.06, for a total transaction of $640,600.00. Following the sale, the director directly owned 1,870 shares of the company’s stock, valued at approximately $119,792.20. This represents a 84.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gillian Cannon sold 1,190 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $53.14, for a total transaction of $63,236.60. Following the completion of 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 SEC filing for this sale provides additional information. Over the last three months, insiders have sold 12,512 shares of company stock worth $774,088. Insiders own 2.91% of the company’s stock.

Wall Street Analysts Forecast Growth

XENE has been the topic of a number of research reports. Wells Fargo & Company restated an “overweight” rating and issued a $69.00 price target on shares of Xenon Pharmaceuticals in a report on Sunday, May 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research report on Monday, July 6th. Royal Bank Of Canada reduced their target price on shares of Xenon Pharmaceuticals from $82.00 to $81.00 and set an “outperform” rating for the company in a report on Friday, August 7th. HC Wainwright reaffirmed a “buy” rating and issued a $74.00 target price on shares of Xenon Pharmaceuticals in a research report on Monday, August 10th. Finally, Needham & Company LLC lowered their price target on shares of Xenon Pharmaceuticals from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $77.13.

Xenon Pharmaceuticals Stock Down 2.9%

XENE stock opened at $61.93 on Friday. The company has a market cap of $5.99 billion, a price-to-earnings ratio of -13.07 and a beta of 0.62. Xenon Pharmaceuticals Inc. has a twelve month low of $35.60 and a twelve month high of $72.66. The business has a 50 day moving average price of $63.04 and a two-hundred day moving average price of $56.36.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($1.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.16) by $0.05. During the same period in the prior year, the firm posted ($1.07) EPS. On average, equities research analysts anticipate that Xenon Pharmaceuticals Inc. will post -4.73 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.