Wellington Management Group LLP Increases Stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Wellington Management Group LLP increased its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 140.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,162,654 shares of the biopharmaceutical company’s stock after buying an additional 2,434,546 shares during the period. Wellington Management Group LLP owned 5.52% of Xenon Pharmaceuticals worth $191,732,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its stake 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 worth $47,000 after buying an additional 817 shares during the period. Parallel Advisors LLC increased its stake in Xenon Pharmaceuticals by 51.2% in the 4th quarter. Parallel Advisors LLC now owns 1,125 shares of the biopharmaceutical company’s stock worth $52,000 after buying an additional 381 shares during the period. Barclays PLC increased its stake in Xenon Pharmaceuticals by 3.7% in the 3rd quarter. Barclays PLC now owns 9,521 shares of the biopharmaceutical company’s stock worth $324,000 after buying an additional 342 shares during the period. Advisors Asset Management Inc. increased its stake in Xenon Pharmaceuticals by 25.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 10,188 shares of the biopharmaceutical company’s stock worth $348,000 after buying an additional 2,096 shares during the period. Finally, Aigen Investment Management LP purchased a new position in Xenon Pharmaceuticals in the 4th quarter worth about $370,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on XENE. 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 note on Friday, May 10th. Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 target price on shares of Xenon Pharmaceuticals in a research report on Wednesday, April 10th. Needham & Company LLC reissued a “buy” rating and set a $62.00 target price on shares of Xenon Pharmaceuticals in a research report on Friday, May 10th. Citigroup cut their target price on shares of Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.11.

Xenon Pharmaceuticals Stock Down 1.0 %

Shares of Xenon Pharmaceuticals stock opened at $36.25 on Wednesday. The firm’s 50 day moving average price is $39.99 and its 200-day moving average price is $43.07. Xenon Pharmaceuticals Inc. has a 52-week low of $27.99 and a 52-week high of $50.99. The company has a market cap of $2.74 billion, a P/E ratio of -13.38 and a beta of 1.23.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.62) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.07. The firm had revenue of $1.00 million during the quarter. During the same quarter in the prior year, the firm posted ($0.63) earnings per share. The firm’s revenue was up .0% on a year-over-year basis. As a group, equities research analysts forecast that Xenon Pharmaceuticals Inc. will post -2.98 EPS for the current fiscal year.

About Xenon Pharmaceuticals

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.