Assenagon Asset Management S.A. Increases Holdings in Xenon Pharmaceuticals Inc. $XENE

Key Points

• Assenagon Asset Management S.A. has increased its holdings in Xenon Pharmaceuticals Inc. by 81.2%, bringing their shares to 436,974, worth about $13.7 million.
• Several other institutional investors have also recently acquired positions in Xenon Pharmaceuticals, with hedge funds and institutional investors owning approximately 95.45% of the stock.
• Xenon Pharmaceuticals has been rated as a "Buy" by eleven research analysts, with a consensus price target of $53.30 after recent performance reviews.

Assenagon Asset Management S.A. lifted its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 81.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 436,974 shares of the biopharmaceutical company's stock after purchasing an additional 195,768 shares during the quarter. Assenagon Asset Management S.A. owned about 0.57% of Xenon Pharmaceuticals worth $13,677,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of XENE. Caitong International Asset Management Co. Ltd purchased a new position in Xenon Pharmaceuticals during the first quarter valued at approximately $30,000. GF Fund Management CO. LTD. purchased a new position in Xenon Pharmaceuticals during the fourth quarter valued at approximately $63,000. Vident Advisory LLC purchased a new position in Xenon Pharmaceuticals during the fourth quarter valued at approximately $212,000. EntryPoint Capital LLC purchased a new position in Xenon Pharmaceuticals during the first quarter valued at approximately $298,000. Finally, Legato Capital Management LLC purchased a new position in Xenon Pharmaceuticals during the first quarter valued at approximately $323,000. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

XENE has been the subject of several recent research reports. Wells Fargo & Company assumed coverage on Xenon Pharmaceuticals in a research report on Wednesday, September 3rd. They set an "overweight" rating and a $48.00 price target for the company. Royal Bank Of Canada reissued an "outperform" rating and issued a $55.00 price objective on shares of Xenon Pharmaceuticals in a report on Tuesday, September 2nd. Chardan Capital reissued a "buy" rating and issued a $55.00 price objective on shares of Xenon Pharmaceuticals in a report on Tuesday, August 12th. Finally, Wedbush raised their price objective on Xenon Pharmaceuticals from $42.00 to $43.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. Eleven research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $53.30.

Xenon Pharmaceuticals Stock Up 1.2%

Shares of NASDAQ XENE opened at $37.40 on Tuesday. The business has a 50-day moving average price of $35.46 and a 200 day moving average price of $33.84. The stock has a market cap of $2.88 billion, a PE ratio of -10.54 and a beta of 1.17. Xenon Pharmaceuticals Inc. has a 52-week low of $26.74 and a 52-week high of $46.00.

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

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