T. Rowe Price Investment Management Inc. Sells 65,977 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

T. Rowe Price Investment Management Inc. lessened its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 4.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,437,831 shares of the biopharmaceutical company's stock after selling 65,977 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 1.89% of Xenon Pharmaceuticals worth $56,363,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of XENE. Prudential Financial Inc. grew its position in shares of Xenon Pharmaceuticals by 177.7% in the fourth quarter. Prudential Financial Inc. now owns 39,000 shares of the biopharmaceutical company's stock valued at $1,529,000 after purchasing an additional 24,956 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Xenon Pharmaceuticals by 1,263.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company's stock valued at $38,456,000 after buying an additional 905,129 shares during the last quarter. Barclays PLC increased its position in Xenon Pharmaceuticals by 1,275.5% in the 3rd quarter. Barclays PLC now owns 14,993 shares of the biopharmaceutical company's stock worth $590,000 after buying an additional 13,903 shares during the period. Assenagon Asset Management S.A. increased its position in Xenon Pharmaceuticals by 12.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 238,522 shares of the biopharmaceutical company's stock worth $9,350,000 after buying an additional 26,235 shares during the period. Finally, Avior Wealth Management LLC acquired a new position in shares of Xenon Pharmaceuticals during the fourth quarter worth approximately $101,000. Institutional investors and hedge funds own 95.45% of the company's stock.

Wall Street Analyst Weigh In

XENE has been the topic of several research analyst reports. HC Wainwright restated a "buy" rating and issued a $53.00 price objective on shares of Xenon Pharmaceuticals in a research note on Monday, February 24th. William Blair restated an "outperform" rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. StockNews.com raised shares of Xenon Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft started coverage on shares of Xenon Pharmaceuticals in a research note on Tuesday, February 11th. They issued a "buy" rating and a $67.00 target price for the company. Finally, The Goldman Sachs Group lowered their price target on Xenon Pharmaceuticals from $60.00 to $52.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Xenon Pharmaceuticals presently has an average rating of "Moderate Buy" and an average target price of $56.78.

Xenon Pharmaceuticals Stock Performance

Shares of XENE stock traded up $0.53 during trading hours on Tuesday, hitting $38.37. The company had a trading volume of 944,054 shares, compared to its average volume of 446,691. Xenon Pharmaceuticals Inc. has a 12 month low of $26.74 and a 12 month high of $46.00. The firm's fifty day moving average is $34.79 and its 200 day moving average is $38.64. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of -13.61 and a beta of 1.21.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share for the quarter, beating analysts' consensus estimates of ($0.89) by $0.05. On average, sell-side analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current fiscal year.

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.