Lord Abbett & CO. LLC Raises Holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Lord Abbett & CO. LLC grew its holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 12.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 194,971 shares of the biopharmaceutical company's stock after purchasing an additional 20,986 shares during the period. Lord Abbett & CO. LLC owned approximately 0.26% of Xenon Pharmaceuticals worth $7,643,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. JPMorgan Chase & Co. increased its holdings in Xenon Pharmaceuticals by 1,263.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company's stock valued at $38,456,000 after purchasing an additional 905,129 shares during the last quarter. FMR LLC grew its stake in shares of Xenon Pharmaceuticals by 8.8% in the fourth quarter. FMR LLC now owns 7,525,290 shares of the biopharmaceutical company's stock valued at $294,991,000 after buying an additional 607,606 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Xenon Pharmaceuticals by 39.0% in the 4th quarter. Jennison Associates LLC now owns 801,553 shares of the biopharmaceutical company's stock valued at $31,421,000 after buying an additional 224,892 shares during the period. Eversept Partners LP acquired a new position in Xenon Pharmaceuticals during the 4th quarter worth about $6,097,000. Finally, Walleye Capital LLC boosted its holdings in Xenon Pharmaceuticals by 111.5% during the 4th quarter. Walleye Capital LLC now owns 221,982 shares of the biopharmaceutical company's stock valued at $8,702,000 after acquiring an additional 117,022 shares during the period. Institutional investors and hedge funds own 95.45% of the company's stock.

Xenon Pharmaceuticals Trading Up 0.5 %

Shares of XENE stock traded up $0.19 on Friday, reaching $38.28. 1,056,382 shares of the stock were exchanged, compared to its average volume of 454,318. Xenon Pharmaceuticals Inc. has a twelve month low of $26.74 and a twelve month high of $46.00. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of -13.57 and a beta of 1.21. The business's 50 day moving average price is $34.74 and its 200 day moving average price is $38.57.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.89) by $0.05. Equities research analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on XENE. William Blair reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft started coverage on shares of Xenon Pharmaceuticals in a report on Tuesday, February 11th. They set a "buy" rating and a $67.00 target price on the stock. StockNews.com cut shares of Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Friday. Royal Bank of Canada reaffirmed an "outperform" rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. Finally, HC Wainwright reiterated a "buy" rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a report on Monday, February 24th. One investment analyst has rated the stock with a sell rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $56.78.

Xenon Pharmaceuticals Company Profile

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.