Harbor Capital Advisors Inc. Acquires 6,773 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Harbor Capital Advisors Inc. grew its stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 13.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,591 shares of the biopharmaceutical company’s stock after purchasing an additional 6,773 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.07% of Xenon Pharmaceuticals worth $1,899,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. GF Fund Management CO. LTD. purchased a new position in Xenon Pharmaceuticals in the 4th quarter worth about $63,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Xenon Pharmaceuticals by 17.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 191,852 shares of the biopharmaceutical company’s stock worth $7,521,000 after acquiring an additional 29,169 shares in the last quarter. Woodline Partners LP purchased a new position in shares of Xenon Pharmaceuticals during the fourth quarter worth approximately $1,566,000. Vident Advisory LLC purchased a new position in shares of Xenon Pharmaceuticals during the fourth quarter worth approximately $212,000. Finally, Two Sigma Advisers LP raised its stake in shares of Xenon Pharmaceuticals by 9.1% during the fourth quarter. Two Sigma Advisers LP now owns 298,700 shares of the biopharmaceutical company’s stock valued at $11,709,000 after acquiring an additional 25,000 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors.

Xenon Pharmaceuticals Price Performance

XENE opened at $32.26 on Thursday. The firm has a market capitalization of $2.48 billion, a PE ratio of -11.44 and a beta of 1.09. The business’s 50-day moving average is $32.81 and its two-hundred day moving average is $36.53. Xenon Pharmaceuticals Inc. has a 1 year low of $26.74 and a 1 year high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings results on Monday, May 12th. The biopharmaceutical company reported ($0.83) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.07. The firm had revenue of $7.50 million during the quarter, compared to the consensus estimate of $1.64 million. During the same quarter in the prior year, the business posted ($0.62) earnings per share. As a group, sell-side analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current year.

Analysts Set New Price Targets

XENE has been the topic of several research analyst reports. Evercore ISI started coverage on Xenon Pharmaceuticals in a research note on Wednesday, May 14th. They issued an “outperform” rating and a $55.00 price objective on the stock. Wall Street Zen downgraded Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. Royal Bank of Canada cut their price target on Xenon Pharmaceuticals from $58.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Wells Fargo & Company decreased their price objective on Xenon Pharmaceuticals from $50.00 to $47.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $53.00 price objective on shares of Xenon Pharmaceuticals in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $54.82.

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.