TimesSquare Capital Management LLC Purchases 23,800 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

TimesSquare Capital Management LLC grew its stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 3.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 778,293 shares of the biopharmaceutical company's stock after acquiring an additional 23,800 shares during the period. TimesSquare Capital Management LLC owned about 1.03% of Xenon Pharmaceuticals worth $30,641,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Blue Trust Inc. raised its holdings in Xenon Pharmaceuticals by 174.7% during the 3rd quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company's stock worth $39,000 after buying an additional 641 shares during the period. nVerses Capital LLC acquired a new stake in Xenon Pharmaceuticals during the 3rd quarter valued at $102,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Xenon Pharmaceuticals by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company's stock worth $106,000 after buying an additional 487 shares during the period. Quarry LP raised its position in Xenon Pharmaceuticals by 207.7% during the second quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company's stock valued at $156,000 after buying an additional 2,700 shares during the period. Finally, EntryPoint Capital LLC purchased a new stake in Xenon Pharmaceuticals in the 1st quarter worth about $195,000. 95.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

XENE has been the subject of a number of research analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and issued a $65.00 target price on shares of Xenon Pharmaceuticals in a research report on Friday, August 9th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $55.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday, September 3rd. Needham & Company LLC reduced their price target on Xenon Pharmaceuticals from $62.00 to $60.00 and set a "buy" rating for the company in a report on Monday, August 12th. William Blair raised Xenon Pharmaceuticals to a "strong-buy" rating in a research note on Friday, August 30th. Finally, HC Wainwright initiated coverage on shares of Xenon Pharmaceuticals in a research note on Tuesday, October 1st. They issued a "buy" rating and a $53.00 target price for the company. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $57.45.

Xenon Pharmaceuticals Trading Down 1.6 %

XENE traded down $0.74 during midday trading on Friday, reaching $45.00. The company's stock had a trading volume of 332,239 shares, compared to its average volume of 353,936. Xenon Pharmaceuticals Inc. has a twelve month low of $27.99 and a twelve month high of $50.99. The stock has a market cap of $3.41 billion, a P/E ratio of -16.42 and a beta of 1.25. The company has a fifty day simple moving average of $40.97 and a 200 day simple moving average of $40.29.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.05). During the same quarter in the previous year, the business posted ($0.72) EPS. Sell-side analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current 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.