Eversept Partners LP Invests $6.10 Million in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Eversept Partners LP bought a new position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 155,540 shares of the biopharmaceutical company's stock, valued at approximately $6,097,000. Eversept Partners LP owned approximately 0.20% of Xenon Pharmaceuticals at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of XENE. J. Safra Sarasin Holding AG purchased a new stake in Xenon Pharmaceuticals during the 4th quarter worth about $697,000. Affinity Asset Advisors LLC lifted its stake in Xenon Pharmaceuticals by 1.5% during the fourth quarter. Affinity Asset Advisors LLC now owns 1,161,237 shares of the biopharmaceutical company's stock worth $45,520,000 after purchasing an additional 17,216 shares during the last quarter. Walleye Capital LLC boosted its holdings in Xenon Pharmaceuticals by 111.5% in the fourth quarter. Walleye Capital LLC now owns 221,982 shares of the biopharmaceutical company's stock valued at $8,702,000 after purchasing an additional 117,022 shares in the last quarter. XTX Topco Ltd purchased a new position in Xenon Pharmaceuticals in the fourth quarter valued at approximately $316,000. Finally, Barclays PLC increased its stake in Xenon Pharmaceuticals by 20.9% in the fourth quarter. Barclays PLC now owns 18,127 shares of the biopharmaceutical company's stock valued at $711,000 after purchasing an additional 3,134 shares during the last quarter. Hedge funds and other institutional investors own 95.45% of the company's stock.

Wall Street Analyst Weigh In

XENE has been the subject of several research analyst reports. StockNews.com upgraded shares of Xenon Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Thursday. The Goldman Sachs Group decreased their price objective on shares of Xenon Pharmaceuticals from $60.00 to $52.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. HC Wainwright reiterated a "buy" rating and set a $53.00 target price on shares of Xenon Pharmaceuticals in a research report on Monday, February 24th. Deutsche Bank Aktiengesellschaft began coverage on Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They issued a "buy" rating and a $67.00 target price for the company. Finally, Royal Bank of Canada restated an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, Xenon Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus target price of $56.78.

Insider Activity

In related news, CEO Ian Mortimer sold 16,315 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $40.50, for a total transaction of $660,757.50. Following the completion of the transaction, the chief executive officer now directly owns 31,302 shares of the company's stock, valued at $1,267,731. This represents a 34.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 5.52% of the company's stock.

Xenon Pharmaceuticals Stock Performance

Xenon Pharmaceuticals stock traded down $0.58 during mid-day trading on Friday, reaching $37.62. 436,004 shares of the company were exchanged, compared to its average volume of 444,471. The firm has a market cap of $2.88 billion, a PE ratio of -13.34 and a beta of 1.21. The firm's 50-day simple moving average is $34.80 and its two-hundred day simple moving average is $38.66. Xenon Pharmaceuticals Inc. has a twelve month low of $26.74 and a twelve month high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share for the quarter, topping the consensus estimate of ($0.89) by $0.05. As a group, equities research analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 EPS 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.