Elmwood Wealth Management Inc. Has $431,000 Stock Position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Elmwood Wealth Management Inc. increased its position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 44.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,007 shares of the biopharmaceutical company’s stock after acquiring an additional 3,400 shares during the quarter. Elmwood Wealth Management Inc.’s holdings in Xenon Pharmaceuticals were worth $431,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Loomis Sayles & Co. L P increased its position in Xenon Pharmaceuticals by 7.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 707,222 shares of the biopharmaceutical company’s stock worth $27,843,000 after purchasing an additional 46,964 shares during the last quarter. Vestal Point Capital LP raised its position in Xenon Pharmaceuticals by 57.1% during the third quarter. Vestal Point Capital LP now owns 825,000 shares of the biopharmaceutical company’s stock valued at $32,480,000 after acquiring an additional 300,000 shares in the last quarter. Driehaus Capital Management LLC lifted its stake in Xenon Pharmaceuticals by 2.3% in the second quarter. Driehaus Capital Management LLC now owns 4,419,472 shares of the biopharmaceutical company’s stock valued at $172,315,000 after acquiring an additional 97,732 shares during the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Xenon Pharmaceuticals in the 2nd quarter valued at $1,574,000. Finally, JPMorgan Chase & Co. boosted its holdings in Xenon Pharmaceuticals by 1,263.2% in the third quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company’s stock worth $38,456,000 after purchasing an additional 905,129 shares in the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Analyst Ratings Changes

XENE has been the subject of several analyst reports. Raymond James restated an “outperform” rating and issued a $50.00 target price on shares of Xenon Pharmaceuticals in a report on Thursday, October 10th. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 target price on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th. Finally, HC Wainwright restated a “buy” rating and set a $53.00 price target on shares of Xenon Pharmaceuticals in a report on Thursday, December 12th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $56.00.

Xenon Pharmaceuticals Stock Down 0.3 %

NASDAQ:XENE traded down $0.12 during trading hours on Monday, reaching $38.29. The company had a trading volume of 276,423 shares, compared to its average volume of 347,450. The stock has a 50-day moving average of $40.97 and a two-hundred day moving average of $40.70. Xenon Pharmaceuticals Inc. has a one year low of $35.53 and a one year high of $50.99. The firm has a market capitalization of $2.92 billion, a PE ratio of -13.58 and a beta of 1.20.

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

Insider Transactions at Xenon Pharmaceuticals

In other news, Director Gary Patou sold 4,891 shares of Xenon Pharmaceuticals stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $41.08, for a total transaction of $200,922.28. Following the completion of the sale, the director now owns 23,573 shares in the company, valued at $968,378.84. The trade was a 17.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Sherry Aulin sold 18,709 shares of Xenon Pharmaceuticals stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $41.21, for a total transaction of $770,997.89. The disclosure for this sale can be found here. Company insiders own 5.52% of the company’s stock.

Xenon Pharmaceuticals Company Profile

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.