Legato Capital Management LLC Takes $323,000 Position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Key Points

• Legato Capital Management LLC has taken a new position in Xenon Pharmaceuticals Inc., purchasing 9,622 shares valued at approximately $323,000 in the first quarter.
• Several institutional investors have increased their holdings in Xenon, with 95.45% of the stock currently owned by institutional investors.
• Xenon Pharmaceuticals reported earnings on May 12, posting a loss of ($0.83) per share, but exceeded analysts' expectations of ($0.90), with revenue of $7.50 million for the quarter.

Legato Capital Management LLC purchased a new stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund purchased 9,622 shares of the biopharmaceutical company's stock, valued at approximately $323,000.

A number of other institutional investors have also made changes to their positions in XENE. FMR LLC increased its holdings in shares of Xenon Pharmaceuticals by 8.8% in the 4th quarter. FMR LLC now owns 7,525,290 shares of the biopharmaceutical company's stock valued at $294,991,000 after acquiring an additional 607,606 shares during the last quarter. Boxer Capital Management LLC bought a new stake in shares of Xenon Pharmaceuticals in the 4th quarter valued at approximately $23,520,000. JPMorgan Chase & Co. increased its holdings in shares of Xenon Pharmaceuticals by 38.9% in the 4th quarter. JPMorgan Chase & Co. now owns 1,356,895 shares of the biopharmaceutical company's stock valued at $53,190,000 after acquiring an additional 380,112 shares during the last quarter. Stempoint Capital LP bought a new stake in shares of Xenon Pharmaceuticals in the 4th quarter valued at approximately $14,733,000. Finally, Janus Henderson Group PLC increased its holdings in shares of Xenon Pharmaceuticals by 12.3% in the 4th quarter. Janus Henderson Group PLC now owns 2,866,755 shares of the biopharmaceutical company's stock valued at $112,425,000 after acquiring an additional 314,363 shares during the last quarter. 95.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on XENE shares. Chardan Capital reiterated a "buy" rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a report 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 restated an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Monday, May 5th. Wall Street Zen downgraded Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Finally, Wells Fargo & Company lowered their price objective on Xenon Pharmaceuticals from $50.00 to $47.00 and set an "overweight" 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 company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.82.

Xenon Pharmaceuticals Trading Down 2.3%

Shares of Xenon Pharmaceuticals stock opened at $30.30 on Friday. The stock has a 50-day moving average price of $31.50 and a 200 day moving average price of $34.64. The company has a market cap of $2.32 billion, a P/E ratio of -9.38 and a beta of 1.10. Xenon Pharmaceuticals Inc. has a 1 year low of $26.74 and a 1 year high of $46.00.

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, topping analysts' consensus estimates of ($0.90) by $0.07. The firm had revenue of $7.50 million for the quarter, compared to analysts' expectations of $1.64 million. During the same period last year, the business earned ($0.62) earnings per share. On average, equities analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current fiscal year.

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.

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