Adage Capital Partners GP L.L.C. Sells 220,499 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Adage Capital Partners GP L.L.C. decreased its position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 10.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,863,473 shares of the biopharmaceutical company's stock after selling 220,499 shares during the period. Adage Capital Partners GP L.L.C. owned 2.44% of Xenon Pharmaceuticals worth $73,048,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Eversept Partners LP purchased a new position in shares of Xenon Pharmaceuticals in the 4th quarter valued at approximately $6,097,000. J. Safra Sarasin Holding AG acquired a new stake in Xenon Pharmaceuticals in the fourth quarter valued at $697,000. Affinity Asset Advisors LLC boosted its stake in shares of Xenon Pharmaceuticals by 1.5% during the fourth quarter. Affinity Asset Advisors LLC now owns 1,161,237 shares of the biopharmaceutical company's stock valued at $45,520,000 after acquiring an additional 17,216 shares during the last quarter. Walleye Capital LLC boosted its stake in shares of Xenon Pharmaceuticals by 111.5% during the fourth quarter. Walleye Capital LLC now owns 221,982 shares of the biopharmaceutical company's stock valued at $8,702,000 after acquiring an additional 117,022 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in Xenon Pharmaceuticals during the fourth quarter worth about $316,000. Institutional investors and hedge funds own 95.45% of the company's stock.

Xenon Pharmaceuticals Stock Up 0.6 %

NASDAQ:XENE traded up $0.22 during trading hours on Monday, reaching $37.84. 502,152 shares of the company's stock were exchanged, compared to its average volume of 444,702. The company has a market capitalization of $2.90 billion, a P/E ratio of -13.42 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 simple moving average is $34.80 and its two-hundred day simple moving average is $38.66.

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on XENE. Deutsche Bank Aktiengesellschaft began coverage on shares of Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They set a "buy" rating and a $67.00 price target on the stock. StockNews.com upgraded shares of Xenon Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Thursday. William Blair reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. The Goldman Sachs Group lowered their target price on shares of Xenon Pharmaceuticals from $60.00 to $52.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Finally, HC Wainwright reissued a "buy" rating and set a $53.00 price target on shares of Xenon Pharmaceuticals in a report on Monday, February 24th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Xenon Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.78.

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.