Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Shares Purchased by Orbimed Advisors LLC

Orbimed Advisors LLC boosted its holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 4.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 947,877 shares of the biopharmaceutical company's stock after purchasing an additional 36,457 shares during the period. Orbimed Advisors LLC owned about 1.24% of Xenon Pharmaceuticals worth $37,157,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Prudential Financial Inc. boosted its holdings in Xenon Pharmaceuticals by 177.7% in the fourth quarter. Prudential Financial Inc. now owns 39,000 shares of the biopharmaceutical company's stock valued at $1,529,000 after purchasing an additional 24,956 shares during the last quarter. Barclays PLC lifted its holdings in Xenon Pharmaceuticals by 1,275.5% during the 3rd quarter. Barclays PLC now owns 14,993 shares of the biopharmaceutical company's stock worth $590,000 after buying an additional 13,903 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Xenon Pharmaceuticals by 12.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 238,522 shares of the biopharmaceutical company's stock worth $9,350,000 after buying an additional 26,235 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Xenon Pharmaceuticals by 38.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,356,895 shares of the biopharmaceutical company's stock worth $53,190,000 after buying an additional 380,112 shares during the last quarter. Finally, Avior Wealth Management LLC bought a new position in Xenon Pharmaceuticals during the 4th quarter worth approximately $101,000. Hedge funds and other institutional investors own 95.45% of the company's stock.

Xenon Pharmaceuticals Stock Performance

Shares of Xenon Pharmaceuticals stock traded down $0.17 on Thursday, reaching $29.57. 1,147,831 shares of the company were exchanged, compared to its average volume of 508,722. The company's 50-day moving average is $34.19 and its two-hundred day moving average is $38.03. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of -10.49 and a beta of 1.21. Xenon Pharmaceuticals Inc. has a 1-year low of $26.74 and a 1-year high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The biopharmaceutical company reported ($0.83) earnings per share for the quarter, topping analysts' consensus estimates of ($0.90) by $0.07. The company had revenue of $7.50 million for the quarter, compared to analyst estimates of $1.64 million. During the same quarter in the previous year, the company posted ($0.62) earnings per share. As a group, sell-side analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. The Goldman Sachs Group reduced their target price on Xenon Pharmaceuticals from $60.00 to $52.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Royal Bank of Canada reduced their target price on Xenon Pharmaceuticals from $58.00 to $55.00 and set an "outperform" rating on the stock in a report on Tuesday. Needham & Company LLC reduced their target price on Xenon Pharmaceuticals from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Tuesday. HC Wainwright reaffirmed a "buy" rating and set a $53.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday. Finally, Evercore ISI assumed coverage on Xenon Pharmaceuticals in a report on Wednesday. They set an "outperform" rating and a $55.00 target price on the stock. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $54.82.

Xenon Pharmaceuticals 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.