Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Shares Bought by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP raised its holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 46.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 347,351 shares of the biopharmaceutical company’s stock after acquiring an additional 109,856 shares during the period. Westfield Capital Management Co. LP’s holdings in Xenon Pharmaceuticals were worth $14,953,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of XENE. Tower Research Capital LLC TRC boosted its position in Xenon Pharmaceuticals by 414.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,014 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 817 shares during the last quarter. Parallel Advisors LLC boosted its position in Xenon Pharmaceuticals by 51.2% in the 4th quarter. Parallel Advisors LLC now owns 1,125 shares of the biopharmaceutical company’s stock valued at $52,000 after buying an additional 381 shares during the last quarter. PNC Financial Services Group Inc. purchased a new position in Xenon Pharmaceuticals in the 4th quarter valued at about $91,000. 17 Capital Partners LLC purchased a new position in Xenon Pharmaceuticals in the 1st quarter valued at about $122,000. Finally, HighMark Wealth Management LLC purchased a new position in Xenon Pharmaceuticals in the 1st quarter valued at about $215,000. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on XENE. Royal Bank of Canada reissued an “outperform” rating and issued a $55.00 price objective on shares of Xenon Pharmaceuticals in a research report on Tuesday, June 18th. Citigroup decreased their price objective on shares of Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Wedbush reduced their price target on shares of Xenon Pharmaceuticals from $51.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 price target on shares of Xenon Pharmaceuticals in a research report on Wednesday, April 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $62.00 price target on shares of Xenon Pharmaceuticals in a research report on Friday, May 10th. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $59.11.

Xenon Pharmaceuticals Trading Up 2.5 %

XENE traded up $1.06 on Friday, hitting $42.73. 297,531 shares of the company’s stock were exchanged, compared to its average volume of 484,459. The firm has a market cap of $3.22 billion, a PE ratio of -15.77 and a beta of 1.26. Xenon Pharmaceuticals Inc. has a twelve month low of $27.99 and a twelve month high of $50.99. The stock has a fifty day moving average of $38.70 and a two-hundred day moving average of $42.56.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings data 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 business had revenue of $1.00 million for the quarter. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.63) EPS. On average, analysts predict that Xenon Pharmaceuticals Inc. will post -2.98 EPS for the current year.

Xenon Pharmaceuticals Profile

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.