Bank of New York Mellon Corp Acquires 204,550 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Bank of New York Mellon Corp boosted its holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 439.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 251,147 shares of the biopharmaceutical company's stock after acquiring an additional 204,550 shares during the quarter. Bank of New York Mellon Corp owned about 0.33% of Xenon Pharmaceuticals worth $8,426,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of XENE. GF Fund Management CO. LTD. boosted its stake in Xenon Pharmaceuticals by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 1,952 shares of the biopharmaceutical company's stock worth $65,000 after buying an additional 351 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Xenon Pharmaceuticals by 1.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 241,206 shares of the biopharmaceutical company's stock valued at $8,092,000 after acquiring an additional 2,684 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in Xenon Pharmaceuticals by 13.6% during the 1st quarter. Harbor Capital Advisors Inc. now owns 56,591 shares of the biopharmaceutical company's stock valued at $1,899,000 after purchasing an additional 6,773 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Xenon Pharmaceuticals by 17.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 191,852 shares of the biopharmaceutical company's stock valued at $7,521,000 after purchasing an additional 29,169 shares during the period. Finally, Woodline Partners LP acquired a new position in Xenon Pharmaceuticals during the 4th quarter worth $1,566,000. Hedge funds and other institutional investors own 95.45% of the company's stock.

Analyst Ratings Changes

XENE has been the topic of a number of analyst reports. HC Wainwright reissued a "buy" rating and issued a $53.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, May 13th. Evercore ISI initiated coverage on Xenon Pharmaceuticals in a report on Wednesday, May 14th. They set an "outperform" rating and a $55.00 price objective on the stock. Wells Fargo & Company decreased their target price on Xenon Pharmaceuticals from $50.00 to $47.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Wall Street Zen downgraded Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Finally, William Blair reaffirmed an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Monday, May 5th. One analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.82.

Xenon Pharmaceuticals Price Performance

Shares of NASDAQ XENE traded down $0.63 during midday trading on Friday, reaching $30.38. The company's stock had a trading volume of 354,872 shares, compared to its average volume of 868,699. The stock has a market capitalization of $2.33 billion, a P/E ratio of -9.40 and a beta of 1.10. The firm has a 50 day moving average price of $31.50 and a 200-day moving average price of $34.71. Xenon Pharmaceuticals Inc. has a 12-month low of $26.74 and a 12-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 for the quarter, topping the consensus estimate 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 company posted ($0.62) EPS. On average, equities analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 EPS 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.