Adage Capital Partners GP L.L.C. Acquires 51,276 Shares of Xenon Pharmaceuticals Inc. $XENE

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in Xenon Pharmaceuticals by 2.8%, owning approximately 2.50% of the company valued at $64.24 million after acquiring additional shares in the first quarter.
• Xenon Pharmaceuticals has received mixed ratings from analysts, with eleven investment firms
• The company's latest earnings report revealed a loss per share of ($1.07), which was below analysts' expectations of ($1.03), indicating ongoing financial challenges despite its promising pipeline in neurological therapeutics.

Adage Capital Partners GP L.L.C. lifted its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,914,749 shares of the biopharmaceutical company's stock after purchasing an additional 51,276 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 2.50% of Xenon Pharmaceuticals worth $64,240,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Northern Trust Corp grew its position in Xenon Pharmaceuticals by 51.6% in the fourth quarter. Northern Trust Corp now owns 65,783 shares of the biopharmaceutical company's stock worth $2,579,000 after acquiring an additional 22,377 shares during the period. Ameriprise Financial Inc. grew its position in Xenon Pharmaceuticals by 39.1% in the fourth quarter. Ameriprise Financial Inc. now owns 92,350 shares of the biopharmaceutical company's stock worth $3,620,000 after acquiring an additional 25,967 shares during the period. Mutual of America Capital Management LLC purchased a new position in Xenon Pharmaceuticals in the first quarter worth approximately $1,636,000. Natixis Advisors LLC grew its position in Xenon Pharmaceuticals by 1.9% in 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 during the period. Finally, Bank of New York Mellon Corp grew its position in Xenon Pharmaceuticals by 439.0% in the first quarter. Bank of New York Mellon Corp now owns 251,147 shares of the biopharmaceutical company's stock worth $8,426,000 after acquiring an additional 204,550 shares during the period. Institutional investors and hedge funds own 95.45% of the company's stock.

Xenon Pharmaceuticals Trading Down 2.1%

XENE traded down $0.83 on Monday, hitting $38.38. 289,573 shares of the company's stock were exchanged, compared to its average volume of 877,801. The stock has a fifty day moving average of $34.52 and a two-hundred day moving average of $33.89. The firm has a market cap of $2.96 billion, a PE ratio of -10.81 and a beta of 1.17. 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 posted its quarterly earnings data on Monday, August 11th. The biopharmaceutical company reported ($1.07) EPS for the quarter, missing analysts' consensus estimates of ($1.03) by ($0.04). During the same period in the previous year, the business earned ($0.75) EPS. On average, analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Chardan Capital restated a "buy" rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a research report on Tuesday, August 12th. Evercore ISI assumed coverage on Xenon Pharmaceuticals in a research report on Wednesday, May 14th. They set an "outperform" rating and a $55.00 price target for the company. Wall Street Zen lowered Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Royal Bank Of Canada reiterated an "outperform" rating and issued a $55.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, September 2nd. Finally, HC Wainwright reiterated a "buy" rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, May 13th. Eleven analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $53.30.

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.