Affinity Asset Advisors LLC Raises Holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Affinity Asset Advisors LLC boosted its holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 1.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,161,237 shares of the biopharmaceutical company's stock after acquiring an additional 17,216 shares during the quarter. Xenon Pharmaceuticals accounts for 6.1% of Affinity Asset Advisors LLC's portfolio, making the stock its largest position. Affinity Asset Advisors LLC owned about 1.52% of Xenon Pharmaceuticals worth $45,520,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in XENE. JPMorgan Chase & Co. increased its stake in Xenon Pharmaceuticals by 1,263.2% during 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 period. FMR LLC increased its stake in shares of Xenon Pharmaceuticals by 8.8% during the fourth quarter. FMR LLC now owns 7,525,290 shares of the biopharmaceutical company's stock valued at $294,991,000 after acquiring an additional 607,606 shares during the period. Jennison Associates LLC increased its stake in shares of Xenon Pharmaceuticals by 39.0% during the fourth quarter. Jennison Associates LLC now owns 801,553 shares of the biopharmaceutical company's stock valued at $31,421,000 after acquiring an additional 224,892 shares during the period. Walleye Capital LLC raised its holdings in Xenon Pharmaceuticals by 111.5% during the fourth quarter. Walleye Capital LLC now owns 221,982 shares of the biopharmaceutical company's stock worth $8,702,000 after purchasing an additional 117,022 shares in the last quarter. Finally, TimesSquare Capital Management LLC lifted its position in Xenon Pharmaceuticals by 9.1% in the fourth quarter. TimesSquare Capital Management LLC now owns 848,850 shares of the biopharmaceutical company's stock worth $33,275,000 after purchasing an additional 70,557 shares during the period. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Xenon Pharmaceuticals Stock Performance

Shares of XENE stock traded up $1.36 on Friday, reaching $35.14. 825,775 shares of the company's stock traded hands, compared to its average volume of 436,983. The company has a market capitalization of $2.69 billion, a P/E ratio of -12.46 and a beta of 1.21. Xenon Pharmaceuticals Inc. has a 12-month low of $26.74 and a 12-month high of $46.00. The business's 50 day moving average price is $35.02 and its two-hundred day moving average price is $38.81.

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

Insider Activity

In related news, CEO Ian Mortimer sold 22,468 shares of the firm's stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $40.20, for a total transaction of $903,213.60. Following the transaction, the chief executive officer now owns 31,302 shares of the company's stock, valued at approximately $1,258,340.40. This trade represents a 41.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.52% of the stock is owned by corporate insiders.

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.