Harbor Capital Advisors Inc. Purchases 23,947 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Harbor Capital Advisors Inc. grew its holdings in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 99.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 48,063 shares of the biopharmaceutical company’s stock after purchasing an additional 23,947 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Xenon Pharmaceuticals were worth $1,892,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in XENE. Blue Trust Inc. grew its holdings in shares of Xenon Pharmaceuticals by 174.7% during the third quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 641 shares during the last quarter. nVerses Capital LLC acquired a new position in Xenon Pharmaceuticals in the third quarter valued at approximately $102,000. Mirae Asset Global Investments Co. Ltd. grew its position in Xenon Pharmaceuticals by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company’s stock valued at $106,000 after buying an additional 487 shares during the period. Quarry LP grew its position in shares of Xenon Pharmaceuticals by 207.7% during the 2nd quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock valued at $156,000 after acquiring an additional 2,700 shares during the period. Finally, EntryPoint Capital LLC acquired a new stake in Xenon Pharmaceuticals in the first quarter valued at approximately $195,000. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on XENE. Needham & Company LLC decreased their price target on shares of Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Wedbush reduced their price target on shares of Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. William Blair raised shares of Xenon Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. HC Wainwright initiated coverage on Xenon Pharmaceuticals in a research note on Tuesday, October 1st. They set a “buy” rating and a $53.00 price target on the stock. Finally, Raymond James reissued an “outperform” rating and issued a $50.00 price objective on shares of Xenon Pharmaceuticals in a research note on Thursday, October 10th. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $57.45.

Xenon Pharmaceuticals Stock Performance

NASDAQ:XENE opened at $41.71 on Tuesday. Xenon Pharmaceuticals Inc. has a 1 year low of $27.99 and a 1 year high of $50.99. The stock has a market cap of $3.16 billion, a P/E ratio of -15.22 and a beta of 1.25. The stock has a 50-day simple moving average of $40.62 and a 200-day simple moving average of $40.16.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.05). During the same quarter in the prior year, the firm posted ($0.72) EPS. On average, equities research analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current year.

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.