CenterBook Partners LP Buys New Position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

CenterBook Partners LP purchased a new stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 22,211 shares of the biopharmaceutical company's stock, valued at approximately $745,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. grew its stake in Xenon Pharmaceuticals by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 1,952 shares of the biopharmaceutical company's stock worth $65,000 after buying an additional 351 shares during the last quarter. Natixis Advisors LLC grew its stake in Xenon Pharmaceuticals by 1.9% during the 1st quarter. Natixis Advisors LLC now owns 24,010 shares of the biopharmaceutical company's stock worth $806,000 after buying an additional 456 shares during the last quarter. Occudo Quantitative Strategies LP grew its stake in Xenon Pharmaceuticals by 5.8% during the 4th quarter. Occudo Quantitative Strategies LP now owns 11,441 shares of the biopharmaceutical company's stock worth $448,000 after buying an additional 630 shares during the last quarter. Geode Capital Management LLC grew its stake in Xenon Pharmaceuticals by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 69,529 shares of the biopharmaceutical company's stock worth $2,726,000 after buying an additional 720 shares during the last quarter. Finally, Swiss National Bank grew its stake in Xenon Pharmaceuticals by 1.0% during the 4th quarter. Swiss National Bank now owns 126,600 shares of the biopharmaceutical company's stock worth $4,963,000 after buying an additional 1,300 shares during the last quarter. 95.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on XENE. Evercore ISI began coverage on Xenon Pharmaceuticals in a research note on Wednesday, May 14th. They set an "outperform" rating and a $55.00 price objective for the company. HC Wainwright restated a "buy" rating and set a $53.00 price objective on shares of Xenon Pharmaceuticals in a research note on Tuesday, May 13th. Needham & Company LLC lowered their price objective on Xenon Pharmaceuticals from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. William Blair reissued an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Monday, May 5th. Finally, Chardan Capital reissued a "buy" rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Xenon Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $54.82.

Xenon Pharmaceuticals Stock Down 1.7%

NASDAQ XENE traded down $0.53 on Friday, reaching $31.59. 1,047,512 shares of the stock traded hands, compared to its average volume of 643,430. The firm's fifty day simple moving average is $31.50 and its 200 day simple moving average is $34.96. The company has a market cap of $2.42 billion, a price-to-earnings ratio of -9.78 and a beta of 1.10. 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 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 for the quarter, compared to the consensus estimate of $1.64 million. During the same period in the prior year, the business earned ($0.62) EPS. As a group, equities research analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current fiscal 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.