Lighthouse Investment Partners LLC Purchases New Position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Lighthouse Investment Partners LLC purchased a new stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENEFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 27,775 shares of the biopharmaceutical company’s stock, valued at approximately $1,279,000.

A number of other large investors have also recently modified their holdings of XENE. First Turn Management LLC purchased a new stake in shares of Xenon Pharmaceuticals in the fourth quarter valued at approximately $31,339,000. Wellington Management Group LLP lifted its holdings in Xenon Pharmaceuticals by 64.4% during the third quarter. Wellington Management Group LLP now owns 1,728,108 shares of the biopharmaceutical company’s stock worth $59,032,000 after buying an additional 677,057 shares during the period. Capital World Investors lifted its holdings in Xenon Pharmaceuticals by 17.9% during the fourth quarter. Capital World Investors now owns 2,681,537 shares of the biopharmaceutical company’s stock worth $123,512,000 after buying an additional 406,563 shares during the period. Jennison Associates LLC lifted its holdings in Xenon Pharmaceuticals by 164.9% during the fourth quarter. Jennison Associates LLC now owns 566,396 shares of the biopharmaceutical company’s stock worth $26,088,000 after buying an additional 352,573 shares during the period. Finally, Federated Hermes Inc. purchased a new stake in Xenon Pharmaceuticals during the fourth quarter worth $15,964,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on XENE shares. Royal Bank of Canada lowered their target price on Xenon Pharmaceuticals from $56.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, March 1st. Needham & Company LLC reiterated a “buy” rating and set a $62.00 price objective on shares of Xenon Pharmaceuticals in a report on Friday, May 10th. Wedbush decreased their price objective on Xenon Pharmaceuticals from $51.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, May 10th. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 price objective on shares of Xenon Pharmaceuticals in a report on Wednesday, April 10th. Finally, Citigroup decreased their price objective on Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating for the company in a report on Friday, May 10th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Xenon Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $59.11.

Check Out Our Latest Stock Analysis on XENE

Xenon Pharmaceuticals Price Performance

NASDAQ XENE opened at $38.24 on Tuesday. The stock’s fifty day moving average price is $40.56 and its 200 day moving average price is $42.94. Xenon Pharmaceuticals Inc. has a 1 year low of $27.99 and a 1 year high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENEGet Free Report) last announced its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.62) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.07. The company had revenue of $1.00 million for the quarter. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.63) earnings per share. Sell-side analysts forecast that Xenon Pharmaceuticals Inc. will post -2.98 EPS for the current fiscal year.

Xenon Pharmaceuticals Profile

(Free Report)

Xenon Pharmaceuticals Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN496, a Kv7 potassium channel opener that is Phase III clinical trials for the treatment of KCNQ2 developmental and epileptic encephalopathy; and XEN1101, a Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.

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Institutional Ownership by Quarter for Xenon Pharmaceuticals (NASDAQ:XENE)

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