Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Shares Purchased by Ameriprise Financial Inc.

Ameriprise Financial Inc. lifted its stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 39.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,350 shares of the biopharmaceutical company's stock after purchasing an additional 25,967 shares during the period. Ameriprise Financial Inc. owned about 0.12% of Xenon Pharmaceuticals worth $3,620,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP purchased a new stake in shares of Xenon Pharmaceuticals during the fourth quarter worth about $78,000. Blue Trust Inc. increased its stake in shares of Xenon Pharmaceuticals by 140.3% during the fourth quarter. Blue Trust Inc. now owns 2,422 shares of the biopharmaceutical company's stock worth $95,000 after purchasing an additional 1,414 shares in the last quarter. Avior Wealth Management LLC purchased a new stake in shares of Xenon Pharmaceuticals during the fourth quarter worth about $101,000. KBC Group NV increased its stake in shares of Xenon Pharmaceuticals by 39.8% during the fourth quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company's stock worth $107,000 after purchasing an additional 780 shares in the last quarter. Finally, Magnetar Financial LLC purchased a new stake in shares of Xenon Pharmaceuticals during the fourth quarter worth about $210,000. Hedge funds and other institutional investors own 95.45% of the company's stock.

Xenon Pharmaceuticals Stock Down 1.1%

Shares of Xenon Pharmaceuticals stock traded down $0.32 during mid-day trading on Friday, hitting $28.72. The stock had a trading volume of 2,455,510 shares, compared to its average volume of 542,510. The firm has a 50-day moving average of $33.00 and a two-hundred day moving average of $36.99. Xenon Pharmaceuticals Inc. has a 12-month low of $26.74 and a 12-month high of $46.00. The firm has a market cap of $2.20 billion, a P/E ratio of -10.18 and a beta of 1.21.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The biopharmaceutical company reported ($0.83) earnings per share for the quarter, beating the consensus estimate of ($0.90) by $0.07. The firm had revenue of $7.50 million during the quarter, compared to analysts' expectations of $1.64 million. During the same period last year, the company earned ($0.62) EPS. Sell-side analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on XENE shares. HC Wainwright reissued a "buy" rating and set a $53.00 target price on shares of Xenon Pharmaceuticals in a research note on Tuesday, May 13th. Evercore ISI initiated coverage on shares of Xenon Pharmaceuticals in a research note on Wednesday, May 14th. They set an "outperform" rating and a $55.00 target price for the company. William Blair reaffirmed an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Monday, May 5th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Xenon Pharmaceuticals in a research note on Tuesday, February 11th. They set a "buy" rating and a $67.00 price objective for the company. Finally, Needham & Company LLC dropped their price objective on shares of Xenon Pharmaceuticals from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $54.82.

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.