Algert Global LLC Raises Holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Algert Global LLC raised its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 9.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 241,417 shares of the biopharmaceutical company's stock after purchasing an additional 21,772 shares during the period. Algert Global LLC owned 0.32% of Xenon Pharmaceuticals worth $9,464,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in XENE. JPMorgan Chase & Co. lifted its position 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 buying an additional 905,129 shares in the last quarter. FMR LLC increased its stake in shares of Xenon Pharmaceuticals by 8.8% in the 4th 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 last quarter. Boxer Capital Management LLC acquired a new position in shares of Xenon Pharmaceuticals during the 4th quarter valued at about $23,520,000. Jennison Associates LLC increased 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 worth $31,421,000 after purchasing an additional 224,892 shares during the last quarter. Finally, Eversept Partners LP purchased a new stake in shares of Xenon Pharmaceuticals in the 4th quarter valued at approximately $6,097,000. Institutional investors and hedge funds own 95.45% of the company's stock.

Xenon Pharmaceuticals Stock Performance

NASDAQ XENE traded down $0.41 during trading hours on Friday, hitting $35.13. The company had a trading volume of 1,051,005 shares, compared to its average volume of 471,402. The business has a 50 day moving average of $34.61 and a 200-day moving average of $38.38. The company has a market cap of $2.69 billion, a PE ratio of -12.46 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 released its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) EPS for the quarter, topping the consensus estimate of ($0.89) by $0.05. Sell-side analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on XENE. William Blair reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Monday. StockNews.com cut shares of Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They issued a "buy" rating and a $67.00 target price for the company. Royal Bank of Canada reissued an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. Finally, Chardan Capital started coverage on Xenon Pharmaceuticals in a report on Wednesday. They issued a "buy" rating and a $55.00 target price for the company. One equities research analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $56.60.

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.