Westfield Capital Management Co. LP Purchases 234,181 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Key Points

• Westfield Capital Management Co. LP increased its stake in Xenon Pharmaceuticals by 20.2%, owning approximately 1.82% of the company, valued at around $46.68 million.
• Several institutional investors, including Northern Trust Corp and Bank of New York Mellon Corp, significantly raised their positions in Xenon Pharmaceuticals, which now has 95.45% institutional ownership.
• Equity analysts have recently set price targets for Xenon Pharmaceuticals, with notable reductions; for example, Goldman Sachs lowered its target from $60.00 to $52.00, though the stock has a consensus rating of "Moderate Buy".

Westfield Capital Management Co. LP increased its stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 20.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,391,370 shares of the biopharmaceutical company's stock after acquiring an additional 234,181 shares during the period. Westfield Capital Management Co. LP owned about 1.82% of Xenon Pharmaceuticals worth $46,680,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. J. Safra Sarasin Holding AG raised its holdings in Xenon Pharmaceuticals by 71.9% during the first quarter. J. Safra Sarasin Holding AG now owns 30,573 shares of the biopharmaceutical company's stock worth $1,026,000 after acquiring an additional 12,787 shares in the last quarter. Natixis Advisors LLC raised its holdings in Xenon Pharmaceuticals by 1.9% during the first quarter. Natixis Advisors LLC now owns 24,010 shares of the biopharmaceutical company's stock worth $806,000 after acquiring an additional 456 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in Xenon Pharmaceuticals by 17.5% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 47,457 shares of the biopharmaceutical company's stock worth $1,592,000 after acquiring an additional 7,081 shares in the last quarter. Legato Capital Management LLC bought a new stake in Xenon Pharmaceuticals during the first quarter worth about $323,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Xenon Pharmaceuticals during the first quarter worth about $401,000. Institutional investors own 95.45% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on XENE shares. William Blair restated an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Monday, May 5th. HC Wainwright restated a "buy" rating and issued a $53.00 price objective on shares of Xenon Pharmaceuticals in a research note on Tuesday, May 13th. Wall Street Zen lowered Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Wells Fargo & Company dropped 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. Finally, Royal Bank Of Canada dropped their price objective on Xenon Pharmaceuticals from $58.00 to $55.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Xenon Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus price target of $54.82.

Xenon Pharmaceuticals Stock Down 0.6%

Shares of XENE stock traded down $0.20 during trading hours on Friday, reaching $33.43. The company's stock had a trading volume of 865,066 shares, compared to its average volume of 920,234. The firm's 50 day simple moving average is $31.98 and its 200-day simple moving average is $34.17. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of -10.35 and a beta of 1.16. Xenon Pharmaceuticals Inc. has a fifty-two week low of $26.74 and a fifty-two week 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) earnings per share for the quarter, beating analysts' consensus estimates 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 in the prior year, the business posted ($0.62) EPS. 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.