Xenon Pharmaceuticals Inc. $XENE is Driehaus Capital Management LLC's 4th Largest Position

Key Points

• Driehaus Capital Management LLC increased its holdings in Xenon Pharmaceuticals by 1.4%, now owning approximately 4.58 million shares valued at $153.8 million.
• Wall Street analysts show a consensus "Buy" rating for Xenon Pharmaceuticals with a target price averaging $53.20.
• Xenon Pharmaceuticals recently reported a quarterly loss of ($1.07) EPS, missing estimates, while its market cap stands at $2.98 billion.

Driehaus Capital Management LLC raised its holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 1.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,584,859 shares of the biopharmaceutical company's stock after acquiring an additional 64,264 shares during the quarter. Xenon Pharmaceuticals makes up 1.5% of Driehaus Capital Management LLC's holdings, making the stock its 4th largest holding. Driehaus Capital Management LLC owned about 5.99% of Xenon Pharmaceuticals worth $153,822,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd bought a new position in Xenon Pharmaceuticals in the 1st quarter valued at $30,000. GF Fund Management CO. LTD. bought a new position in Xenon Pharmaceuticals in the 4th quarter valued at $63,000. Quarry LP bought a new position in Xenon Pharmaceuticals in the 4th quarter valued at $78,000. Vident Advisory LLC bought a new position in Xenon Pharmaceuticals in the 4th quarter valued at $212,000. Finally, Tema Etfs LLC bought a new stake in Xenon Pharmaceuticals during the 4th quarter valued at $240,000. Institutional investors own 95.45% of the company's stock.

Xenon Pharmaceuticals Stock Performance

XENE stock traded down $0.39 on Wednesday, hitting $38.91. 235,486 shares of the company's stock were exchanged, compared to its average volume of 880,493. The firm has a 50 day moving average price of $34.11 and a two-hundred day moving average price of $33.93. Xenon Pharmaceuticals Inc. has a 12-month low of $26.74 and a 12-month high of $46.00. The stock has a market cap of $3.00 billion, a P/E ratio of -10.95 and a beta of 1.17.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The biopharmaceutical company reported ($1.07) EPS for the quarter, missing analysts' consensus estimates of ($1.03) by ($0.04). During the same quarter in the prior year, the firm posted ($0.75) earnings per share. Sell-side analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

XENE has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $53.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday, May 13th. Wedbush lifted their target price on Xenon Pharmaceuticals from $42.00 to $43.00 and gave the company an "outperform" rating in a research report on Tuesday, August 12th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday. Wall Street Zen lowered Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Finally, Evercore ISI initiated coverage on Xenon Pharmaceuticals in a research report on Wednesday, May 14th. They set an "outperform" rating and a $55.00 target price for the company. Eleven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $53.30.

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.