Ally Bridge Group NY LLC Has $8.34 Million Stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Ally Bridge Group NY LLC boosted its position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 25.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 211,791 shares of the biopharmaceutical company’s stock after buying an additional 42,422 shares during the quarter. Xenon Pharmaceuticals makes up approximately 4.5% of Ally Bridge Group NY LLC’s investment portfolio, making the stock its 7th biggest holding. Ally Bridge Group NY LLC’s holdings in Xenon Pharmaceuticals were worth $8,338,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of Xenon Pharmaceuticals by 2.2% during the 3rd quarter. FMR LLC now owns 6,917,684 shares of the biopharmaceutical company’s stock worth $272,349,000 after purchasing an additional 149,511 shares in the last quarter. Loomis Sayles & Co. L P boosted its stake in Xenon Pharmaceuticals by 7.1% during the third quarter. Loomis Sayles & Co. L P now owns 707,222 shares of the biopharmaceutical company’s stock worth $27,843,000 after buying an additional 46,964 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in Xenon Pharmaceuticals by 4.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 669,600 shares of the biopharmaceutical company’s stock valued at $26,362,000 after buying an additional 26,054 shares during the period. Algert Global LLC increased its holdings in Xenon Pharmaceuticals by 19.9% in the 3rd quarter. Algert Global LLC now owns 219,645 shares of the biopharmaceutical company’s stock valued at $8,647,000 after buying an additional 36,440 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Xenon Pharmaceuticals by 4.3% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 439,074 shares of the biopharmaceutical company’s stock valued at $17,287,000 after buying an additional 17,953 shares in the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Xenon Pharmaceuticals Stock Up 1.6 %

Shares of NASDAQ XENE opened at $43.15 on Thursday. Xenon Pharmaceuticals Inc. has a 1-year low of $33.62 and a 1-year high of $50.99. The company has a 50-day moving average of $41.37 and a two-hundred day moving average of $40.22.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.82) by $0.01. During the same period last year, the company posted ($0.73) EPS. As a group, sell-side analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on XENE shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 target price on shares of Xenon Pharmaceuticals in a research note on Friday, August 9th. HC Wainwright reissued a “buy” rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, September 3rd. William Blair upgraded Xenon Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Finally, Raymond James reissued an “outperform” rating and set a $50.00 price objective on shares of Xenon Pharmaceuticals in a report on Thursday, October 10th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $57.45.

Insider Buying and Selling

In other Xenon Pharmaceuticals news, Director Gary Patou sold 4,891 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $41.08, for a total value of $200,922.28. Following the transaction, the director now directly owns 23,573 shares of the company’s stock, valued at approximately $968,378.84. This trade represents a 17.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.52% of the company’s stock.

About Xenon Pharmaceuticals

Xenon Pharmaceuticals Inc, a neuroscience-focused biopharmaceutical company, engages in the development of therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN1101, a novel and potent Kv7 potassium channel opener, which is in Phase 3 clinical trials for the treatment of epilepsy and other neurological disorders.