Raymond James Financial Inc. Makes New Investment in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Raymond James Financial Inc. acquired a new stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 20,331 shares of the biopharmaceutical company's stock, valued at approximately $797,000.

Several other institutional investors have also modified their holdings of the company. Blue Trust Inc. boosted its stake in Xenon Pharmaceuticals by 140.3% in the fourth quarter. Blue Trust Inc. now owns 2,422 shares of the biopharmaceutical company's stock valued at $95,000 after acquiring an additional 1,414 shares in the last quarter. Avior Wealth Management LLC purchased a new stake in shares of Xenon Pharmaceuticals during the fourth quarter worth approximately $101,000. KBC Group NV grew its position in Xenon Pharmaceuticals by 39.8% in the 4th quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company's stock valued at $107,000 after buying an additional 780 shares during the last quarter. Magnetar Financial LLC acquired a new position in Xenon Pharmaceuticals in the 4th quarter valued at $210,000. Finally, HighMark Wealth Management LLC raised its position in Xenon Pharmaceuticals by 22.0% during the 4th quarter. HighMark Wealth Management LLC now owns 6,100 shares of the biopharmaceutical company's stock worth $239,000 after buying an additional 1,100 shares during the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Friday, May 2nd. The Goldman Sachs Group decreased their price target on Xenon Pharmaceuticals from $60.00 to $52.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Royal Bank of Canada reaffirmed an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. William Blair reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They issued a "buy" rating and a $67.00 price target for the company. One research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, Xenon Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $56.78.

Xenon Pharmaceuticals Trading Down 6.3 %

Shares of Xenon Pharmaceuticals stock opened at $35.18 on Wednesday. The business's fifty day moving average price is $34.65 and its 200 day moving average price is $38.46. The stock has a market capitalization of $2.69 billion, a P/E ratio of -12.48 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.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share for the quarter, topping analysts' consensus estimates of ($0.89) by $0.05. As a group, sell-side analysts predict 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.

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