T. Rowe Price Investment Management Inc. Decreases Stock Holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

T. Rowe Price Investment Management Inc. trimmed its position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 4.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,437,831 shares of the biopharmaceutical company's stock after selling 65,977 shares during the quarter. T. Rowe Price Investment Management Inc. owned 1.89% of Xenon Pharmaceuticals worth $56,363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in Xenon Pharmaceuticals by 1,263.2% during the third quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company's stock worth $38,456,000 after purchasing an additional 905,129 shares during the last quarter. FMR LLC raised its position in Xenon Pharmaceuticals by 8.8% in the fourth quarter. FMR LLC now owns 7,525,290 shares of the biopharmaceutical company's stock worth $294,991,000 after acquiring an additional 607,606 shares during the period. Jennison Associates LLC lifted its stake in Xenon Pharmaceuticals by 39.0% in 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 during the last quarter. Eversept Partners LP bought a new position in shares of Xenon Pharmaceuticals during the 4th quarter worth $6,097,000. Finally, Walleye Capital LLC increased its holdings in Xenon Pharmaceuticals by 111.5% in the 4th quarter. Walleye Capital LLC now owns 221,982 shares of the biopharmaceutical company's stock worth $8,702,000 after acquiring an additional 117,022 shares during the last quarter. Institutional investors own 95.45% of the company's stock.

Xenon Pharmaceuticals Stock Performance

XENE traded up $0.29 on Thursday, reaching $38.49. The company had a trading volume of 348,529 shares, compared to its average volume of 447,253. The business has a 50 day simple moving average of $34.74 and a 200 day simple moving average of $38.64. The company has a market cap of $2.95 billion, a price-to-earnings ratio of -13.64 and a beta of 1.21. Xenon Pharmaceuticals Inc. has a 52-week low of $26.74 and a 52-week high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.89) by $0.05. As a group, equities research analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

XENE has been the subject of a number of research reports. William Blair reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. The Goldman Sachs Group reduced their price objective on shares of Xenon Pharmaceuticals from $60.00 to $52.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. HC Wainwright reaffirmed a "buy" rating and issued a $53.00 price target on shares of Xenon Pharmaceuticals in a report on Monday, February 24th. Royal Bank of Canada reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. Finally, StockNews.com raised Xenon Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Xenon Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $56.78.

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.