Schonfeld Strategic Advisors LLC Increases Stock Position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Schonfeld Strategic Advisors LLC raised its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 11.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 15,150 shares of the biopharmaceutical company’s stock after purchasing an additional 1,568 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in Xenon Pharmaceuticals were worth $594,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Barclays PLC increased its holdings 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. Harbor Capital Advisors Inc. increased its stake in shares of Xenon Pharmaceuticals by 3.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 49,818 shares of the biopharmaceutical company’s stock valued at $1,953,000 after buying an additional 1,755 shares during the period. Elmwood Wealth Management Inc. increased its stake in shares of Xenon Pharmaceuticals by 44.7% during the fourth quarter. Elmwood Wealth Management Inc. now owns 11,007 shares of the biopharmaceutical company’s stock valued at $431,000 after buying an additional 3,400 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Xenon Pharmaceuticals by 12.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 238,522 shares of the biopharmaceutical company’s stock valued at $9,350,000 after acquiring an additional 26,235 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in Xenon Pharmaceuticals by 72.3% in the fourth quarter. SG Americas Securities LLC now owns 13,293 shares of the biopharmaceutical company’s stock worth $521,000 after acquiring an additional 5,577 shares during the period. 95.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

XENE has been the subject of several research reports. Chardan Capital started coverage on shares of Xenon Pharmaceuticals in a report on Wednesday. They issued a “buy” rating and a $55.00 price objective for the company. StockNews.com downgraded shares of Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, May 2nd. Royal Bank of Canada restated an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft initiated coverage on Xenon Pharmaceuticals in a report on Tuesday, February 11th. They set a “buy” rating and a $67.00 target price on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a research note on Monday, February 24th. One equities research analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Xenon Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $56.60.

Xenon Pharmaceuticals Stock Performance

NASDAQ XENE opened at $35.13 on Friday. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of -12.46 and a beta of 1.21. The stock has a 50-day moving average of $34.59 and a 200 day moving average of $38.33. Xenon Pharmaceuticals Inc. has a one year low of $26.74 and a one year high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share for the quarter, beating the consensus estimate of ($0.89) by $0.05. On average, equities analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share 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.