Braidwell LP Boosts Stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Braidwell LP boosted its holdings in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 7.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,913,964 shares of the biopharmaceutical company’s stock after purchasing an additional 206,709 shares during the period. Xenon Pharmaceuticals comprises 3.4% of Braidwell LP’s portfolio, making the stock its 6th biggest holding. Braidwell LP owned about 3.82% of Xenon Pharmaceuticals worth $114,227,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in Xenon Pharmaceuticals in the 4th quarter valued at $78,000. Blue Trust Inc. boosted its stake in shares of Xenon Pharmaceuticals by 140.3% in the 4th quarter. Blue Trust Inc. now owns 2,422 shares of the biopharmaceutical company’s stock valued at $95,000 after purchasing an additional 1,414 shares in the last quarter. Avior Wealth Management LLC bought a new stake in shares of Xenon Pharmaceuticals in the 4th quarter worth about $101,000. KBC Group NV increased its position in shares of Xenon Pharmaceuticals by 39.8% during the 4th quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 780 shares in the last quarter. Finally, Magnetar Financial LLC bought a new position in Xenon Pharmaceuticals during the 4th quarter valued at about $210,000. 95.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and set a $53.00 price objective on shares of Xenon Pharmaceuticals in a research note on Monday, February 24th. The Goldman Sachs Group cut their price objective on Xenon Pharmaceuticals from $60.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. StockNews.com cut Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday. William Blair reiterated an “outperform” rating on shares of Xenon Pharmaceuticals in a research report on Monday. Finally, Royal Bank of Canada restated an “outperform” rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.78.

Xenon Pharmaceuticals Price Performance

Shares of NASDAQ:XENE opened at $37.54 on Tuesday. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of -13.31 and a beta of 1.21. The company has a 50 day moving average of $34.71 and a 200-day moving average of $38.48. Xenon Pharmaceuticals Inc. has a one year low of $26.74 and a one year high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced 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. Equities research analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

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.