Polar Capital Holdings Plc Boosts Stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Polar Capital Holdings Plc grew its holdings in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 10.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,697,657 shares of the biopharmaceutical company's stock after buying an additional 253,012 shares during the quarter. Polar Capital Holdings Plc owned 3.54% of Xenon Pharmaceuticals worth $105,748,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in XENE. Barclays PLC raised its position in shares of Xenon Pharmaceuticals by 1,275.5% during the 3rd quarter. Barclays PLC now owns 14,993 shares of the biopharmaceutical company's stock valued at $590,000 after buying an additional 13,903 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Xenon Pharmaceuticals by 12.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 238,522 shares of the biopharmaceutical company's stock worth $9,350,000 after purchasing an additional 26,235 shares during the period. SG Americas Securities LLC raised its position in Xenon Pharmaceuticals by 72.3% in the 4th quarter. SG Americas Securities LLC now owns 13,293 shares of the biopharmaceutical company's stock worth $521,000 after purchasing an additional 5,577 shares during the period. Avior Wealth Management LLC purchased a new stake in Xenon Pharmaceuticals in the 4th quarter worth about $101,000. Finally, Blue Trust Inc. raised its position in Xenon Pharmaceuticals by 140.3% in the 4th quarter. Blue Trust Inc. now owns 2,422 shares of the biopharmaceutical company's stock worth $95,000 after purchasing an additional 1,414 shares during the period. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They issued a "buy" rating and a $67.00 price objective on the stock. Wells Fargo & Company reduced their target price on shares of Xenon Pharmaceuticals from $50.00 to $47.00 and set an "overweight" rating on the stock in a research report on Tuesday. Royal Bank of Canada reduced their target price on shares of Xenon Pharmaceuticals from $58.00 to $55.00 and set an "outperform" rating on the stock in a research report on Tuesday. William Blair reaffirmed an "outperform" rating on shares of Xenon Pharmaceuticals in a research report on Monday, May 5th. Finally, Evercore ISI assumed coverage on shares of Xenon Pharmaceuticals in a research 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 given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $54.82.

Xenon Pharmaceuticals Stock Performance

XENE traded up $0.72 during trading on Friday, hitting $30.29. The stock had a trading volume of 966,331 shares, compared to its average volume of 511,566. The company has a market capitalization of $2.32 billion, a PE ratio of -10.74 and a beta of 1.21. Xenon Pharmaceuticals Inc. has a twelve month low of $26.74 and a twelve month high of $46.00. The stock has a 50 day simple moving average of $34.10 and a two-hundred day simple moving average of $37.95.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its earnings results on Monday, May 12th. The biopharmaceutical company reported ($0.83) earnings per share for the quarter, beating the consensus estimate of ($0.90) by $0.07. The firm had revenue of $7.50 million during the quarter, compared to analyst estimates of $1.64 million. During the same quarter last year, the business earned ($0.62) earnings per share. On average, equities research analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current year.

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.