Alyeska Investment Group L.P. Raises Position in Xenon Pharmaceuticals Inc. $XENE

Key Points

• Alyeska Investment Group L.P. increased its position in Xenon Pharmaceuticals Inc. by 27.1% during Q1, purchasing an additional 78,390 shares, bringing its total holdings to 367,233 shares valued at approximately $12.3 million.
• Recently, a majority of analysts rated Xenon Pharmaceuticals as a “Buy”, with a consensus target price of $53.30, although some firms reduced their price objectives.
• Xenon Pharmaceuticals reported a quarterly EPS of ($1.07), missing analyst estimates of ($1.03), marking a decrease from the previous year's quarterly earnings.

Alyeska Investment Group L.P. boosted its position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 27.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 367,233 shares of the biopharmaceutical company's stock after purchasing an additional 78,390 shares during the period. Alyeska Investment Group L.P. owned about 0.48% of Xenon Pharmaceuticals worth $12,321,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. raised its holdings in shares of Xenon Pharmaceuticals by 2.8% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,914,749 shares of the biopharmaceutical company's stock worth $64,240,000 after buying an additional 51,276 shares during the period. ADAR1 Capital Management LLC boosted its holdings in shares of Xenon Pharmaceuticals by 152.3% in the 1st quarter. ADAR1 Capital Management LLC now owns 127,548 shares of the biopharmaceutical company's stock valued at $4,279,000 after buying an additional 77,001 shares in the last quarter. Vestal Point Capital LP increased its position in shares of Xenon Pharmaceuticals by 60.5% during the first quarter. Vestal Point Capital LP now owns 1,300,000 shares of the biopharmaceutical company's stock worth $43,615,000 after purchasing an additional 490,000 shares in the last quarter. Birchview Capital LP raised its stake in Xenon Pharmaceuticals by 110.0% in the first quarter. Birchview Capital LP now owns 21,000 shares of the biopharmaceutical company's stock valued at $705,000 after buying an additional 11,000 shares during the last quarter. Finally, MPM Bioimpact LLC boosted its stake in Xenon Pharmaceuticals by 53.8% in the 1st quarter. MPM Bioimpact LLC now owns 303,398 shares of the biopharmaceutical company's stock worth $10,179,000 after purchasing an additional 106,186 shares in the last quarter. Institutional investors own 95.45% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on XENE shares. Wells Fargo & Company started coverage on Xenon Pharmaceuticals in a research note on Wednesday, September 3rd. They issued an "overweight" rating and a $48.00 price objective for the company. Needham & Company LLC cut their price target on Xenon Pharmaceuticals from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Evercore ISI started 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. HC Wainwright restated a "buy" rating and issued a $53.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, May 13th. Finally, Chardan Capital reaffirmed a "buy" rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a report on Tuesday, August 12th. Eleven investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $53.30.

Xenon Pharmaceuticals Trading Down 1.8%

XENE traded down $0.68 on Tuesday, hitting $37.51. The company had a trading volume of 666,572 shares, compared to its average volume of 878,030. The company's fifty day moving average price is $34.66 and its 200 day moving average price is $33.88. Xenon Pharmaceuticals Inc. has a 1 year low of $26.74 and a 1 year high of $46.00. The firm has a market cap of $2.89 billion, a P/E ratio of -10.57 and a beta of 1.17.

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 analysts' consensus estimates of ($1.03) by ($0.04). During the same quarter last year, the business posted ($0.75) EPS. On average, analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share 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.