Insider Buying: Xenon Pharmaceuticals Inc. (XENE) Major Shareholder Buys 18,858 Shares of Stock
Xenon Pharmaceuticals Inc. (NASDAQ:XENE) major shareholder Bvf Partners L. P/Il acquired 18,858 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was purchased at an average price of $2.41 per share, with a total value of $45,447.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Xenon Pharmaceuticals Inc. (XENE) traded up 8.16% during midday trading on Wednesday, reaching $2.65. The company had a trading volume of 132,571 shares. Xenon Pharmaceuticals Inc. has a 52 week low of $2.25 and a 52 week high of $9.95. The firm’s market capitalization is $47.69 million. The stock has a 50-day moving average of $3.13 and a 200 day moving average of $4.94.
Xenon Pharmaceuticals (NASDAQ:XENE) last issued its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.41) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.38) by $0.03. Xenon Pharmaceuticals had a negative return on equity of 47.53% and a negative net margin of 3,489.63%. The firm had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.38 million. On average, analysts anticipate that Xenon Pharmaceuticals Inc. will post ($0.96) earnings per share for the current year.
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A number of large investors have recently modified their holdings of the company. Renaissance Technologies LLC boosted its stake in shares of Xenon Pharmaceuticals by 18.7% in the fourth quarter. Renaissance Technologies LLC now owns 114,200 shares of the biopharmaceutical company’s stock valued at $879,000 after buying an additional 18,000 shares during the last quarter. Sabby Management LLC bought a new stake in shares of Xenon Pharmaceuticals during the first quarter valued at $1,186,000. KCG Holdings Inc. bought a new stake in shares of Xenon Pharmaceuticals during the first quarter valued at $122,000. Endurant Capital Management LP bought a new stake in shares of Xenon Pharmaceuticals during the first quarter valued at $1,363,000. Finally, K2 Principal Fund L.P. boosted its stake in shares of Xenon Pharmaceuticals by 104.4% in the first quarter. K2 Principal Fund L.P. now owns 116,975 shares of the biopharmaceutical company’s stock valued at $468,000 after buying an additional 59,747 shares during the last quarter. 56.01% of the stock is currently owned by institutional investors.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research cut Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, May 16th. Jefferies Group LLC restated a “buy” rating and set a $8.00 target price on shares of Xenon Pharmaceuticals in a report on Monday, June 12th. Finally, Canaccord Genuity restated a “buy” rating and set a $5.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, June 27th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Xenon Pharmaceuticals has a consensus rating of “Buy” and an average price target of $11.88.
About Xenon Pharmaceuticals
Xenon Pharmaceuticals Inc is a Canada-based clinical-stage biopharmaceutical company. It is engaged in discovering and developing a pipeline of differentiated therapeutics for orphan indications. Its product pipeline includes: Glybera, TV-45070, GDC-0310, XEN901 (Nav1.6 inhibitor) and XEN1101. Glybera is used for the treatment of lipoprotein lipase deficiency (LPLD).
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