Polar Capital Holdings Plc Buys 253,012 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Polar Capital Holdings Plc raised its position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 10.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,697,657 shares of the biopharmaceutical company's stock after acquiring an additional 253,012 shares during the period. Polar Capital Holdings Plc owned approximately 3.54% of Xenon Pharmaceuticals worth $105,748,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in XENE. FMR LLC boosted 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 during the period. Boxer Capital Management LLC acquired a new position in Xenon Pharmaceuticals during the fourth quarter valued at approximately $23,520,000. JPMorgan Chase & Co. raised its position in Xenon Pharmaceuticals by 38.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,356,895 shares of the biopharmaceutical company's stock valued at $53,190,000 after purchasing an additional 380,112 shares in the last quarter. Janus Henderson Group PLC raised its position in Xenon Pharmaceuticals by 12.3% during the fourth quarter. Janus Henderson Group PLC now owns 2,866,755 shares of the biopharmaceutical company's stock valued at $112,425,000 after purchasing an additional 314,363 shares in the last quarter. Finally, Jennison Associates LLC raised its position in Xenon Pharmaceuticals by 39.0% during the fourth quarter. Jennison Associates LLC now owns 801,553 shares of the biopharmaceutical company's stock valued at $31,421,000 after purchasing an additional 224,892 shares in the last quarter. Institutional investors own 95.45% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on XENE. StockNews.com upgraded shares of Xenon Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. William Blair reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Monday, May 5th. 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 price target for the company. Chardan Capital reiterated a "buy" rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a report on Tuesday, May 13th. Finally, Royal Bank of Canada lowered their price target on shares of Xenon Pharmaceuticals from $58.00 to $55.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.82.

Xenon Pharmaceuticals Stock Up 1.8%

Xenon Pharmaceuticals stock traded up $0.57 during trading hours on Tuesday, reaching $31.52. 360,040 shares of the company's stock were exchanged, compared to its average volume of 512,386. The firm's 50 day simple moving average is $34.01 and its 200 day simple moving average is $37.83. Xenon Pharmaceuticals Inc. has a twelve month low of $26.74 and a twelve month high of $46.00. The firm has a market capitalization of $2.42 billion, a PE ratio of -11.15 and a beta of 1.21.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last issued 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 business 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 business posted ($0.62) earnings per share. Analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 EPS 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.