Adage Capital Partners GP L.L.C. Decreases Stock Holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Adage Capital Partners GP L.L.C. lessened its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 10.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,863,473 shares of the biopharmaceutical company's stock after selling 220,499 shares during the quarter. Adage Capital Partners GP L.L.C. owned 2.44% of Xenon Pharmaceuticals worth $73,048,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Xenon Pharmaceuticals by 13.2% during the 3rd quarter. State Street Corp now owns 279,513 shares of the biopharmaceutical company's stock valued at $11,004,000 after acquiring an additional 32,701 shares in the last quarter. Barclays PLC boosted its position in 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 purchasing an additional 13,903 shares during the period. JPMorgan Chase & Co. boosted its position in Xenon Pharmaceuticals by 1,263.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company's stock valued at $38,456,000 after purchasing an additional 905,129 shares during the period. Harbor Capital Advisors Inc. boosted its position in Xenon Pharmaceuticals by 3.7% during the 4th quarter. Harbor Capital Advisors Inc. now owns 49,818 shares of the biopharmaceutical company's stock valued at $1,953,000 after purchasing an additional 1,755 shares during the period. Finally, Elmwood Wealth Management Inc. raised its stake in Xenon Pharmaceuticals by 44.7% during the 4th quarter. Elmwood Wealth Management Inc. now owns 11,007 shares of the biopharmaceutical company's stock valued at $431,000 after acquiring an additional 3,400 shares in 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 research analysts have recently issued reports on XENE shares. HC Wainwright reaffirmed a "buy" rating and set a $53.00 target price on shares of Xenon Pharmaceuticals in a research report on Monday, February 24th. William Blair reissued an "outperform" rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. The Goldman Sachs Group decreased their price target on shares of Xenon Pharmaceuticals from $60.00 to $52.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. StockNews.com upgraded shares of Xenon Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Thursday, April 24th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $56.78.

Xenon Pharmaceuticals Price Performance

Shares of NASDAQ XENE traded down $0.02 during mid-day trading on Tuesday, reaching $37.82. 358,605 shares of the company's stock were exchanged, compared to its average volume of 444,413. Xenon Pharmaceuticals Inc. has a 52 week low of $26.74 and a 52 week high of $46.00. The firm has a 50-day moving average price of $34.79 and a two-hundred day moving average price of $38.64. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of -13.40 and a beta of 1.21.

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

About Xenon Pharmaceuticals

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.