Xenon Pharmaceuticals Inc. $XENE Position Increased by Vestal Point Capital LP

Vestal Point Capital LP increased its holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 60.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,300,000 shares of the biopharmaceutical company’s stock after acquiring an additional 490,000 shares during the quarter. Xenon Pharmaceuticals makes up 3.1% of Vestal Point Capital LP’s portfolio, making the stock its 9th biggest position. Vestal Point Capital LP’s holdings in Xenon Pharmaceuticals were worth $43,615,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of XENE. Northern Trust Corp grew its stake in Xenon Pharmaceuticals by 51.6% during the 4th quarter. Northern Trust Corp now owns 65,783 shares of the biopharmaceutical company’s stock valued at $2,579,000 after purchasing an additional 22,377 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Xenon Pharmaceuticals by 39.1% during the 4th quarter. Ameriprise Financial Inc. now owns 92,350 shares of the biopharmaceutical company’s stock valued at $3,620,000 after buying an additional 25,967 shares during the last quarter. Mutual of America Capital Management LLC purchased a new position in shares of Xenon Pharmaceuticals during the 1st quarter valued at approximately $1,636,000. Natixis Advisors LLC grew its position in shares of Xenon Pharmaceuticals by 1.9% during the first quarter. Natixis Advisors LLC now owns 24,010 shares of the biopharmaceutical company’s stock worth $806,000 after buying an additional 456 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Xenon Pharmaceuticals by 439.0% in the first quarter. Bank of New York Mellon Corp now owns 251,147 shares of the biopharmaceutical company’s stock worth $8,426,000 after buying an additional 204,550 shares during the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on XENE. Wells Fargo & Company decreased their price target on Xenon Pharmaceuticals from $50.00 to $47.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. HC Wainwright reaffirmed a “buy” rating and set a $53.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, May 13th. Chardan Capital reiterated a “buy” rating and issued a $55.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday, August 12th. Wall Street Zen downgraded Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Finally, Wedbush raised their price objective on Xenon Pharmaceuticals from $42.00 to $43.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 12th. Eleven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $53.20.

Xenon Pharmaceuticals Stock Performance

Xenon Pharmaceuticals stock opened at $38.71 on Tuesday. Xenon Pharmaceuticals Inc. has a one year low of $26.74 and a one year high of $46.00. The company has a 50-day simple moving average of $33.97 and a 200-day simple moving average of $33.89. The firm has a market capitalization of $2.98 billion, a P/E ratio of -10.90 and a beta of 1.17.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings data on Monday, August 11th. The biopharmaceutical company reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.03) by ($0.04). During the same period last year, the business posted ($0.75) earnings per share. As a group, sell-side analysts forecast 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.