Stempoint Capital LP Purchases Shares of 375,845 Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Stempoint Capital LP purchased a new stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 375,845 shares of the biopharmaceutical company’s stock, valued at approximately $14,733,000. Xenon Pharmaceuticals comprises 3.7% of Stempoint Capital LP’s portfolio, making the stock its 6th largest position.

A number of other institutional investors have also made changes to their positions in XENE. Barclays PLC grew its holdings in shares of Xenon Pharmaceuticals by 1,275.5% in the third quarter. Barclays PLC now owns 14,993 shares of the biopharmaceutical company’s stock valued at $590,000 after purchasing an additional 13,903 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Xenon Pharmaceuticals by 12.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 238,522 shares of the biopharmaceutical company’s stock valued at $9,350,000 after purchasing an additional 26,235 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Xenon Pharmaceuticals by 72.3% in the fourth quarter. SG Americas Securities LLC now owns 13,293 shares of the biopharmaceutical company’s stock valued at $521,000 after purchasing an additional 5,577 shares in the last quarter. Avior Wealth Management LLC acquired a new position in shares of Xenon Pharmaceuticals in the fourth quarter valued at approximately $101,000. Finally, Blue Trust Inc. grew its holdings in shares of Xenon Pharmaceuticals by 140.3% in 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. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

XENE has been the subject of a number of research reports. Royal Bank of Canada dropped their price objective on shares of Xenon Pharmaceuticals from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday. The Goldman Sachs Group lowered their price target on shares of Xenon Pharmaceuticals from $60.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, April 17th. HC Wainwright reiterated a “buy” rating and set a $53.00 price target on shares of Xenon Pharmaceuticals in a report on Tuesday. Chardan Capital reiterated a “buy” rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a report on Tuesday. Finally, Needham & Company LLC lowered their price target on shares of Xenon Pharmaceuticals from $60.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Xenon Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.82.

Xenon Pharmaceuticals Price Performance

XENE stock opened at $30.29 on Friday. The company has a fifty day moving average price of $34.10 and a 200 day moving average price of $37.95. Xenon Pharmaceuticals Inc. has a 12 month low of $26.74 and a 12 month high of $46.00. The company has a market cap of $2.32 billion, a price-to-earnings ratio of -10.74 and a beta of 1.21.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings results on Monday, May 12th. The biopharmaceutical company reported ($0.83) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.07. The business had revenue of $7.50 million during the quarter, compared to analysts’ expectations of $1.64 million. During the same quarter last year, the company earned ($0.62) EPS. As a group, analysts anticipate 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.