ADAR1 Capital Management LLC Buys 77,001 Shares of Xenon Pharmaceuticals Inc. $XENE

Key Points

• ADAR1 Capital Management LLC significantly increased its holdings in Xenon Pharmaceuticals Inc. by 152.3%, owning approximately 127,548 shares worth $4.28 million at the latest reporting period.
• Currently, 95.45% of Xenon Pharmaceuticals' stock is held by institutional investors, indicating strong support from the investment community.
• Despite a series of analyst ratings affirming a "buy" consensus on the stock, Xenon reported an earnings per share of ($1.07), missing the consensus estimate of ($1.03).

ADAR1 Capital Management LLC boosted its holdings in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 152.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 127,548 shares of the biopharmaceutical company's stock after buying an additional 77,001 shares during the period. ADAR1 Capital Management LLC owned approximately 0.17% of Xenon Pharmaceuticals worth $4,279,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Xenon Pharmaceuticals in the 1st quarter valued at $30,000. GF Fund Management CO. LTD. purchased a new stake in Xenon Pharmaceuticals during the fourth quarter valued at about $63,000. Vident Advisory LLC bought a new position in Xenon Pharmaceuticals during the 4th quarter worth approximately $212,000. Tema Etfs LLC purchased a new position in shares of Xenon Pharmaceuticals in the fourth quarter worth $240,000. Finally, EntryPoint Capital LLC purchased a new stake in Xenon Pharmaceuticals during the 1st quarter valued at $298,000. Hedge funds and other institutional investors own 95.45% of the company's stock.

Analyst Upgrades and Downgrades

XENE has been the subject of a number of analyst reports. Evercore ISI began coverage on shares of Xenon Pharmaceuticals in a report on Wednesday, May 14th. They set an "outperform" rating and a $55.00 target price for the company. Royal Bank Of Canada restated an "outperform" rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, September 2nd. Wedbush lifted their price target on shares of Xenon Pharmaceuticals from $42.00 to $43.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. Wall Street Zen downgraded shares of Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Finally, Needham & Company LLC dropped their target price on shares of Xenon Pharmaceuticals from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Eleven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $53.30.

Xenon Pharmaceuticals Stock Up 1.5%

Shares of XENE stock traded up $0.57 during mid-day trading on Friday, reaching $39.21. 646,087 shares of the company's stock traded hands, compared to its average volume of 803,703. The company's 50-day moving average price is $34.52 and its 200-day moving average price is $33.93. The company has a market cap of $3.02 billion, a P/E ratio of -11.05 and a beta of 1.17. Xenon Pharmaceuticals Inc. has a 12 month low of $26.74 and a 12 month high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The biopharmaceutical company reported ($1.07) earnings per share for the quarter, missing the consensus estimate of ($1.03) by ($0.04). During the same quarter in the prior year, the company earned ($0.75) EPS. Equities analysts predict 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.