Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Shares Purchased by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC increased its stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 34.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 793,954 shares of the biopharmaceutical company’s stock after acquiring an additional 203,379 shares during the period. TimesSquare Capital Management LLC owned about 1.21% of Xenon Pharmaceuticals worth $36,570,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Braidwell LP grew its holdings in Xenon Pharmaceuticals by 15.0% in the third quarter. Braidwell LP now owns 2,103,396 shares of the biopharmaceutical company’s stock valued at $71,852,000 after purchasing an additional 275,043 shares during the period. Wellington Management Group LLP grew its holdings in Xenon Pharmaceuticals by 64.4% in the third quarter. Wellington Management Group LLP now owns 1,728,108 shares of the biopharmaceutical company’s stock valued at $59,032,000 after purchasing an additional 677,057 shares during the period. Invesco Ltd. grew its holdings in Xenon Pharmaceuticals by 2.3% in the third quarter. Invesco Ltd. now owns 716,303 shares of the biopharmaceutical company’s stock valued at $24,469,000 after purchasing an additional 16,318 shares during the period. Jennison Associates LLC grew its holdings in Xenon Pharmaceuticals by 164.9% in the fourth quarter. Jennison Associates LLC now owns 566,396 shares of the biopharmaceutical company’s stock valued at $26,088,000 after purchasing an additional 352,573 shares during the period. Finally, Fiera Capital Corp grew its holdings in Xenon Pharmaceuticals by 2.0% in the third quarter. Fiera Capital Corp now owns 560,546 shares of the biopharmaceutical company’s stock valued at $19,148,000 after purchasing an additional 11,205 shares during the period. 95.45% of the stock is owned by institutional investors and hedge funds.

Xenon Pharmaceuticals Stock Performance

Shares of NASDAQ XENE traded down $0.50 during trading on Wednesday, hitting $42.93. 113,596 shares of the company were exchanged, compared to its average volume of 391,224. Xenon Pharmaceuticals Inc. has a 12-month low of $27.99 and a 12-month high of $50.99. The company has a fifty day moving average price of $42.97 and a 200-day moving average price of $41.51. The firm has a market capitalization of $3.24 billion, a PE ratio of -15.78 and a beta of 1.19.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.64) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.12. During the same period in the previous year, the business posted ($0.57) EPS. The company’s revenue was up .0% compared to the same quarter last year. Research analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

XENE has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $62.00 price target on shares of Xenon Pharmaceuticals in a research note on Friday, April 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $65.00 price target on shares of Xenon Pharmaceuticals in a research note on Wednesday, April 10th. Wedbush lifted their price target on Xenon Pharmaceuticals from $46.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Finally, Royal Bank of Canada lowered their price target on Xenon Pharmaceuticals from $56.00 to $55.00 and set an “outperform” rating on the stock in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.44.

Insider Transactions at Xenon Pharmaceuticals

In related news, Director Steven Gannon sold 13,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $46.28, for a total value of $601,640.00. Following the sale, the director now directly owns 2,000 shares in the company, valued at approximately $92,560. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Sherrington Robin sold 7,137 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $46.28, for a total value of $330,300.36. Following the sale, the executive vice president now directly owns 8,398 shares in the company, valued at approximately $388,659.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven Gannon sold 13,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $46.28, for a total transaction of $601,640.00. Following the completion of the sale, the director now owns 2,000 shares in the company, valued at $92,560. The disclosure for this sale can be found here. Insiders own 5.43% of the company’s stock.

Xenon Pharmaceuticals Profile

Xenon Pharmaceuticals Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN496, a Kv7 potassium channel opener that is Phase III clinical trials for the treatment of KCNQ2 developmental and epileptic encephalopathy; and XEN1101, a Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.