Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 17.9% in the fourth quarter, according to the company in its most recent disclosure 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.25% of Xenon Pharmaceuticals worth $7,521,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in XENE. Woodline Partners LP purchased a new position in shares of Xenon Pharmaceuticals during the fourth quarter worth about $1,566,000. Vident Advisory LLC acquired a new position in Xenon Pharmaceuticals during the fourth quarter worth $212,000. Two Sigma Advisers LP grew its stake in Xenon Pharmaceuticals by 9.1% in the 4th quarter. Two Sigma Advisers LP now owns 298,700 shares of the biopharmaceutical company's stock valued at $11,709,000 after acquiring an additional 25,000 shares during the last quarter. Two Sigma Investments LP increased its stake in shares of Xenon Pharmaceuticals by 12.2% during the 4th quarter. Two Sigma Investments LP now owns 273,352 shares of the biopharmaceutical company's stock worth $10,715,000 after purchasing an additional 29,773 shares in the last quarter. Finally, Tema Etfs LLC purchased a new position in Xenon Pharmaceuticals during the fourth quarter worth $240,000. 95.45% of the stock is owned by institutional investors and hedge funds.

Xenon Pharmaceuticals Price Performance

NASDAQ:XENE traded up $0.65 during midday trading on Tuesday, reaching $30.72. 985,838 shares of the company traded hands, compared to its average volume of 546,268. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of -10.89 and a beta of 1.21. The company has a fifty day moving average price of $32.91 and a 200 day moving average price of $36.89. Xenon Pharmaceuticals Inc. has a twelve month low of $26.74 and a twelve month high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The biopharmaceutical company reported ($0.83) earnings per share (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 the consensus estimate of $1.64 million. During the same period in the previous year, the company posted ($0.62) EPS. On average, equities research analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Evercore ISI initiated coverage on shares of Xenon Pharmaceuticals in a research note on Wednesday, May 14th. They set an "outperform" rating and a $55.00 price target on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on Xenon Pharmaceuticals in a report on Tuesday, February 11th. They set a "buy" rating and a $67.00 price objective for the company. Royal Bank of Canada cut their price target on shares of Xenon Pharmaceuticals from $58.00 to $55.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. HC Wainwright reaffirmed a "buy" rating and issued a $53.00 price objective on shares of Xenon Pharmaceuticals in a research report on Tuesday, May 13th. Finally, Wall Street Zen downgraded Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $54.82.

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.