Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Stock Holdings Boosted by Braidwell LP

Braidwell LP lifted its holdings in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 7.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,913,964 shares of the biopharmaceutical company's stock after buying an additional 206,709 shares during the quarter. Xenon Pharmaceuticals comprises approximately 3.4% of Braidwell LP's investment portfolio, making the stock its 6th biggest holding. Braidwell LP owned about 3.82% of Xenon Pharmaceuticals worth $114,227,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in shares of Xenon Pharmaceuticals by 1,263.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company's stock worth $38,456,000 after buying an additional 905,129 shares during the last quarter. FMR LLC raised its holdings in shares of Xenon Pharmaceuticals by 8.8% during the fourth quarter. FMR LLC now owns 7,525,290 shares of the biopharmaceutical company's stock valued at $294,991,000 after purchasing an additional 607,606 shares during the period. Boxer Capital Management LLC bought a new position in shares of Xenon Pharmaceuticals in the fourth quarter valued at approximately $23,520,000. Jennison Associates LLC grew its holdings in shares of Xenon Pharmaceuticals by 39.0% in the fourth quarter. Jennison Associates LLC now owns 801,553 shares of the biopharmaceutical company's stock valued at $31,421,000 after acquiring an additional 224,892 shares in the last quarter. Finally, Eversept Partners LP purchased a new position in Xenon Pharmaceuticals in the fourth quarter valued at approximately $6,097,000. Institutional investors own 95.45% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on XENE. The Goldman Sachs Group dropped their target price on shares of Xenon Pharmaceuticals from $60.00 to $52.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Chardan Capital assumed coverage on shares of Xenon Pharmaceuticals in a research note on Wednesday. They set a "buy" rating and a $55.00 price objective on the stock. StockNews.com lowered shares of Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. Royal Bank of Canada reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. Finally, William Blair reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Monday, May 5th. One research analyst has rated the stock with a sell rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $56.22.

Xenon Pharmaceuticals Stock Performance

XENE stock traded down $0.41 during midday trading on Friday, reaching $35.13. The company's stock had a trading volume of 1,055,391 shares, compared to its average volume of 472,352. The stock has a fifty day simple moving average of $34.59 and a two-hundred day simple moving average of $38.30. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of -12.46 and a beta of 1.21. Xenon Pharmaceuticals Inc. has a 1 year low of $26.74 and a 1 year high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last released its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) EPS for the quarter, topping analysts' consensus estimates of ($0.89) by $0.05. As a group, analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current fiscal 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.