Xenon Pharmaceuticals Inc. $XENE Shares Acquired by Adage Capital Partners GP L.L.C.

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. raised its stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,914,749 shares of the biopharmaceutical company's stock after buying an additional 51,276 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 2.50% of Xenon Pharmaceuticals worth $64,240,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd bought a new position in shares of Xenon Pharmaceuticals during the 1st quarter valued at about $30,000. GF Fund Management CO. LTD. bought a new position in shares of Xenon Pharmaceuticals during the 4th quarter valued at about $63,000. Vident Advisory LLC bought a new position in shares of Xenon Pharmaceuticals during the 4th quarter valued at about $212,000. Tema Etfs LLC bought a new position in shares of Xenon Pharmaceuticals during the 4th quarter valued at about $240,000. Finally, EntryPoint Capital LLC bought a new position in shares of Xenon Pharmaceuticals during the 1st quarter valued at about $298,000. Institutional investors and hedge funds own 95.45% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on XENE. Wall Street Zen lowered shares of Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Chardan Capital restated a "buy" rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a research report on Tuesday, August 12th. Wells Fargo & Company reduced their price objective on shares of Xenon Pharmaceuticals from $50.00 to $47.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. 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. Finally, Wedbush raised their target price on shares of Xenon Pharmaceuticals from $42.00 to $43.00 and gave the stock an "outperform" rating in a report on Tuesday, August 12th. Eleven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $53.20.

Xenon Pharmaceuticals Trading Up 1.5%

Shares of XENE stock opened at $39.30 on Wednesday. Xenon Pharmaceuticals Inc. has a 1 year low of $26.74 and a 1 year high of $46.00. The firm's fifty day simple moving average is $34.11 and its 200 day simple moving average is $33.93. The firm has a market capitalization of $3.03 billion, a P/E ratio of -11.07 and a beta of 1.17.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its earnings results on Monday, August 11th. The biopharmaceutical company reported ($1.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.03) by ($0.04). During the same period last year, the company earned ($0.75) EPS. Equities research analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.