MPM Bioimpact LLC Has $7.73 Million Stock Position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

MPM Bioimpact LLC grew its holdings in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 18.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 197,212 shares of the biopharmaceutical company's stock after acquiring an additional 31,412 shares during the period. MPM Bioimpact LLC owned about 0.26% of Xenon Pharmaceuticals worth $7,731,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Occudo Quantitative Strategies LP raised its stake in shares of Xenon Pharmaceuticals by 5.8% during the fourth quarter. Occudo Quantitative Strategies LP now owns 11,441 shares of the biopharmaceutical company's stock valued at $448,000 after acquiring an additional 630 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Xenon Pharmaceuticals by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 69,529 shares of the biopharmaceutical company's stock valued at $2,726,000 after acquiring an additional 720 shares during the last quarter. KBC Group NV raised its stake in shares of Xenon Pharmaceuticals by 39.8% during the fourth quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company's stock valued at $107,000 after acquiring an additional 780 shares during the last quarter. HighMark Wealth Management LLC raised its stake in shares of Xenon Pharmaceuticals by 22.0% during the fourth quarter. HighMark Wealth Management LLC now owns 6,100 shares of the biopharmaceutical company's stock valued at $239,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Swiss National Bank raised its stake in shares of Xenon Pharmaceuticals by 1.0% during the fourth quarter. Swiss National Bank now owns 126,600 shares of the biopharmaceutical company's stock valued at $4,963,000 after acquiring an additional 1,300 shares during the last quarter. Institutional investors own 95.45% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Needham & Company LLC dropped their price target on shares of Xenon Pharmaceuticals from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Tuesday. Wells Fargo & Company lowered their target price on shares of Xenon Pharmaceuticals from $50.00 to $47.00 and set an "overweight" rating for the company in a research note on Tuesday. Evercore ISI began coverage on shares of Xenon Pharmaceuticals in a research note on Wednesday. They set an "outperform" rating and a $55.00 target price for the company. Royal Bank of Canada lowered their target price on shares of Xenon Pharmaceuticals from $58.00 to $55.00 and set an "outperform" rating for the company in a research note on Tuesday. Finally, StockNews.com raised shares of Xenon Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Xenon Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $54.82.

Xenon Pharmaceuticals Stock Up 2.4%

NASDAQ:XENE traded up $0.72 during trading hours on Friday, reaching $30.29. The company had a trading volume of 966,331 shares, compared to its average volume of 510,566. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of -10.74 and a beta of 1.21. The business's 50-day simple moving average is $34.10 and its two-hundred day simple moving average is $37.95. 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 results on Monday, May 12th. The biopharmaceutical company reported ($0.83) EPS for the quarter, topping analysts' consensus estimates of ($0.90) by $0.07. The company had revenue of $7.50 million during the quarter, compared to analyst estimates of $1.64 million. During the same quarter in the previous year, the business posted ($0.62) earnings per share. As a group, equities analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

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.