UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 29,169 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 17.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 191,852 shares of the biopharmaceutical company's stock after purchasing an additional 29,169 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.25% of Xenon Pharmaceuticals worth $7,521,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. FMR LLC increased its position in 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 period. Boxer Capital Management LLC acquired a new stake in Xenon Pharmaceuticals in the 4th quarter valued at approximately $23,520,000. JPMorgan Chase & Co. increased its position in 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 period. Stempoint Capital LP acquired a new stake in Xenon Pharmaceuticals in the 4th quarter valued at approximately $14,733,000. Finally, Janus Henderson Group PLC increased its position in 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 period. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Wells Fargo & Company lowered their target price on Xenon Pharmaceuticals from $50.00 to $47.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. William Blair reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a research report on Monday, May 5th. HC Wainwright reiterated a "buy" rating and set a $53.00 price target on shares of Xenon Pharmaceuticals in a research report on Tuesday, May 13th. Chardan Capital reiterated a "buy" rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a research report on Tuesday, May 13th. Finally, The Goldman Sachs Group lowered their price target on Xenon Pharmaceuticals from $60.00 to $52.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Xenon Pharmaceuticals currently has an average rating of "Moderate Buy" and an average target price of $54.82.

Xenon Pharmaceuticals Stock Up 0.9%

Shares of Xenon Pharmaceuticals stock traded up $0.27 during midday trading on Thursday, hitting $30.73. The company's stock had a trading volume of 656,451 shares, compared to its average volume of 548,265. The firm has a market capitalization of $2.36 billion, a P/E ratio of -10.90 and a beta of 1.21. The stock has a 50-day simple moving average of $32.76 and a 200-day simple moving average of $36.81. 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 issued its earnings results on Monday, May 12th. The biopharmaceutical company reported ($0.83) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.07. The business had revenue of $7.50 million during the quarter, compared to analyst estimates of $1.64 million. During the same period last year, the business earned ($0.62) EPS. As a group, sell-side analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current 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.