EntryPoint Capital LLC Acquires New Position in Xenon Pharmaceuticals Inc. $XENE

Key Points

• EntryPoint Capital LLC has invested approximately $298,000 in Xenon Pharmaceuticals Inc. by acquiring 8,872 shares in the 1st quarter.
• Institutional investors and hedge funds collectively own 95.45% of Xenon Pharmaceuticals' stock, indicating strong institutional support.
• Recent analyst ratings show an average target price of $53.20 for Xenon Pharmaceuticals, with eleven analysts rating the stock as a Buy.

EntryPoint Capital LLC bought a new position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,872 shares of the biopharmaceutical company's stock, valued at approximately $298,000.

Several other hedge funds also recently modified their holdings of XENE. Geode Capital Management LLC boosted its stake in Xenon Pharmaceuticals by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 69,529 shares of the biopharmaceutical company's stock worth $2,726,000 after acquiring an additional 720 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Xenon Pharmaceuticals in the 4th quarter valued at about $797,000. Barclays PLC raised its stake in Xenon Pharmaceuticals by 20.9% during the 4th quarter. Barclays PLC now owns 18,127 shares of the biopharmaceutical company's stock worth $711,000 after buying an additional 3,134 shares during the period. XTX Topco Ltd acquired a new position in shares of Xenon Pharmaceuticals during the fourth quarter worth approximately $316,000. Finally, Voya Investment Management LLC grew its position in Xenon Pharmaceuticals by 32.3% in the 4th quarter. Voya Investment Management LLC now owns 62,415 shares of the biopharmaceutical company's stock valued at $2,447,000 after purchasing an additional 15,250 shares during the period. Institutional investors own 95.45% of the company's stock.

Xenon Pharmaceuticals Stock Up 0.6%

NASDAQ XENE traded up $0.25 during trading hours on Thursday, reaching $39.12. 84,686 shares of the company were exchanged, compared to its average volume of 885,339. The stock has a market capitalization of $3.02 billion, a P/E ratio of -11.01 and a beta of 1.16. Xenon Pharmaceuticals Inc. has a 1 year low of $26.74 and a 1 year high of $46.00. The business's 50 day simple moving average is $33.56 and its 200-day simple moving average is $33.97.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last released its 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 in the previous year, the company earned ($0.75) EPS. As a group, sell-side analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on XENE shares. Royal Bank Of Canada lowered their price objective on shares of Xenon Pharmaceuticals from $57.00 to $55.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Needham & Company LLC dropped their price target on shares of Xenon Pharmaceuticals from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Wedbush raised their target price on Xenon Pharmaceuticals from $42.00 to $43.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. William Blair reaffirmed an "outperform" rating on shares of Xenon Pharmaceuticals in a research report on Monday, May 5th. Finally, Wall Street Zen downgraded Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Eleven analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $53.20.

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.