Northern Trust Corp Buys 22,377 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Northern Trust Corp boosted its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 51.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,783 shares of the biopharmaceutical company's stock after purchasing an additional 22,377 shares during the quarter. Northern Trust Corp owned about 0.09% of Xenon Pharmaceuticals worth $2,579,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Quarry LP bought a new stake in shares of Xenon Pharmaceuticals in the fourth quarter worth about $78,000. Aquatic Capital Management LLC bought a new stake in shares of Xenon Pharmaceuticals in the fourth quarter worth about $324,000. Lord Abbett & CO. LLC increased its holdings in shares of Xenon Pharmaceuticals by 12.1% in the fourth quarter. Lord Abbett & CO. LLC now owns 194,971 shares of the biopharmaceutical company's stock worth $7,643,000 after acquiring an additional 20,986 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Xenon Pharmaceuticals by 32.3% during the fourth quarter. Voya Investment Management LLC now owns 62,415 shares of the biopharmaceutical company's stock worth $2,447,000 after buying an additional 15,250 shares during the period. Finally, Eversept Partners LP acquired a new position in shares of Xenon Pharmaceuticals during the fourth quarter worth about $6,097,000. Institutional investors own 95.45% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. HC Wainwright reaffirmed a "buy" rating and set a $53.00 price objective on shares of Xenon Pharmaceuticals in a research report on Tuesday, May 13th. Needham & Company LLC reduced their price target on Xenon Pharmaceuticals from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft began coverage on Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They issued a "buy" rating and a $67.00 price objective for the company. Wall Street Zen lowered 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 on the stock in a research note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Xenon Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $54.82.

Xenon Pharmaceuticals Stock Performance

Shares of XENE stock traded up $0.55 during mid-day trading on Thursday, hitting $29.04. The company's stock had a trading volume of 1,973,213 shares, compared to its average volume of 534,850. The company's fifty day simple moving average is $33.13 and its 200-day simple moving average is $37.13. Xenon Pharmaceuticals Inc. has a 52 week low of $26.74 and a 52 week high of $46.00. The company has a market cap of $2.23 billion, a PE ratio of -10.30 and a beta of 1.21.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last issued its earnings results on Monday, May 12th. The biopharmaceutical company reported ($0.83) EPS for the quarter, beating analysts' consensus estimates of ($0.90) by $0.07. The firm had revenue of $7.50 million during the quarter, compared to the consensus estimate of $1.64 million. During the same period in the previous year, the firm earned ($0.62) earnings per share. On average, equities analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

Xenon Pharmaceuticals 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.