Legato Capital Management LLC Invests $323,000 in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Legato Capital Management LLC acquired a new position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) during the 1st quarter, Holdings Channel.com reports. The fund acquired 9,622 shares of the biopharmaceutical company’s stock, valued at approximately $323,000.

Several other institutional investors also recently modified their holdings of the company. Y Intercept Hong Kong Ltd acquired a new stake in shares of Xenon Pharmaceuticals during the 1st quarter worth approximately $401,000. New York State Common Retirement Fund grew its holdings in shares of Xenon Pharmaceuticals by 7.4% during the 1st quarter. New York State Common Retirement Fund now owns 142,372 shares of the biopharmaceutical company’s stock worth $4,777,000 after purchasing an additional 9,851 shares in the last quarter. Mutual of America Capital Management LLC acquired a new stake in shares of Xenon Pharmaceuticals during the 1st quarter worth approximately $1,636,000. Bank of New York Mellon Corp grew its holdings in shares of Xenon Pharmaceuticals by 439.0% during the 1st quarter. Bank of New York Mellon Corp now owns 251,147 shares of the biopharmaceutical company’s stock worth $8,426,000 after purchasing an additional 204,550 shares in the last quarter. Finally, GF Fund Management CO. LTD. grew its holdings in shares of Xenon Pharmaceuticals by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 1,952 shares of the biopharmaceutical company’s stock worth $65,000 after purchasing an additional 351 shares in the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Xenon Pharmaceuticals Stock Performance

Shares of XENE opened at $30.30 on Friday. The stock has a fifty day moving average price of $31.50 and a two-hundred day moving average price of $34.64. Xenon Pharmaceuticals Inc. has a 52-week low of $26.74 and a 52-week high of $46.00. The company has a market cap of $2.32 billion, a price-to-earnings ratio of -9.38 and a beta of 1.10.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings data on Monday, May 12th. The biopharmaceutical company reported ($0.83) earnings per share (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 the consensus estimate of $1.64 million. During the same quarter in the previous year, the firm posted ($0.62) EPS. As a group, research analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on XENE shares. Needham & Company LLC decreased their price objective on Xenon Pharmaceuticals from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. Wall Street Zen downgraded Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. HC Wainwright restated a “buy” rating and set a $53.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday, May 13th. William Blair restated an “outperform” rating on shares of Xenon Pharmaceuticals in a research report on Monday, May 5th. Finally, Royal Bank Of Canada cut their target price on Xenon Pharmaceuticals from $58.00 to $55.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.82.

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.