MPM Bioimpact LLC Increases Stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

MPM Bioimpact LLC raised its position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 18.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 197,212 shares of the biopharmaceutical company’s stock after purchasing an additional 31,412 shares during the quarter. MPM Bioimpact LLC owned 0.26% of Xenon Pharmaceuticals worth $7,731,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of XENE. Quarry LP purchased a new stake in shares of Xenon Pharmaceuticals during the fourth quarter valued at approximately $78,000. Blue Trust Inc. lifted its holdings in shares of Xenon Pharmaceuticals by 140.3% during the fourth 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 purchased a new stake in shares of Xenon Pharmaceuticals during the 4th quarter valued at about $101,000. KBC Group NV grew its position in Xenon Pharmaceuticals by 39.8% in 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 during the period. Finally, Magnetar Financial LLC purchased a new stake in Xenon Pharmaceuticals during the fourth quarter valued at $210,000. 95.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Xenon Pharmaceuticals in a research note on Tuesday, February 11th. They set a “buy” rating and a $67.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $53.00 price objective on shares of Xenon Pharmaceuticals in a research report on Tuesday. Chardan Capital reissued a “buy” rating and issued a $55.00 price objective on shares of Xenon Pharmaceuticals in a research note on Tuesday. StockNews.com upgraded Xenon Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, The Goldman Sachs Group reduced their target price on Xenon Pharmaceuticals from $60.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $54.80.

Xenon Pharmaceuticals Stock Down 17.4%

XENE stock opened at $29.60 on Wednesday. Xenon Pharmaceuticals Inc. has a 52 week low of $26.74 and a 52 week high of $46.00. The stock has a market capitalization of $2.27 billion, a P/E ratio of -10.50 and a beta of 1.21. The firm has a 50-day simple moving average of $34.41 and a 200-day simple moving average of $38.18.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its earnings results on Monday, May 12th. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.07. The business had revenue of $7.50 million for the quarter, compared to analysts’ expectations of $1.64 million. During the same period in the previous year, the company earned ($0.62) EPS. On average, analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

Xenon Pharmaceuticals 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.