Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Stake Raised by Millennium Management LLC

Millennium Management LLC lifted its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 65.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 346,040 shares of the biopharmaceutical company's stock after acquiring an additional 137,014 shares during the quarter. Millennium Management LLC owned 0.45% of Xenon Pharmaceuticals worth $13,565,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in XENE. FMR LLC boosted its position in Xenon Pharmaceuticals by 8.8% during the 4th quarter. FMR LLC now owns 7,525,290 shares of the biopharmaceutical company's stock valued at $294,991,000 after purchasing an additional 607,606 shares during the period. Braidwell LP lifted its stake in Xenon Pharmaceuticals by 7.6% in the fourth quarter. Braidwell LP now owns 2,913,964 shares of the biopharmaceutical company's stock valued at $114,227,000 after buying an additional 206,709 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Xenon Pharmaceuticals by 12.3% in the fourth quarter. Janus Henderson Group PLC now owns 2,866,755 shares of the biopharmaceutical company's stock valued at $112,425,000 after buying an additional 314,363 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Xenon Pharmaceuticals by 1.3% in the fourth quarter. Alliancebernstein L.P. now owns 1,443,180 shares of the biopharmaceutical company's stock valued at $56,573,000 after buying an additional 18,445 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Xenon Pharmaceuticals by 38.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,356,895 shares of the biopharmaceutical company's stock valued at $53,190,000 after buying an additional 380,112 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company's stock.

Xenon Pharmaceuticals Price Performance

Shares of NASDAQ XENE traded up $0.84 during midday trading on Thursday, reaching $29.33. 65,981 shares of the company traded hands, compared to its average volume of 526,205. The stock has a 50-day moving average price of $33.27 and a 200 day moving average price of $37.23. 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 $2.25 billion, a price-to-earnings ratio of -10.40 and a beta of 1.21.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last issued its quarterly 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 the consensus estimate of $1.64 million. During the same quarter last year, the firm posted ($0.62) earnings per share. As a group, analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current year.

Analyst Ratings Changes

XENE has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Xenon Pharmaceuticals in a research note on Tuesday, February 11th. They issued a "buy" rating and a $67.00 target price on the stock. HC Wainwright reiterated a "buy" rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a research note on Tuesday, May 13th. The Goldman Sachs Group cut their target price on Xenon Pharmaceuticals from $60.00 to $52.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Wall Street Zen cut Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Finally, Chardan Capital reiterated a "buy" rating and issued a $55.00 target price on shares of Xenon Pharmaceuticals in a research note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $54.82.

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.