Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Holdings Boosted by Affinity Asset Advisors LLC

Affinity Asset Advisors LLC lifted its position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 18.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 994,227 shares of the biopharmaceutical company’s stock after acquiring an additional 156,840 shares during the quarter. Xenon Pharmaceuticals accounts for approximately 4.5% of Affinity Asset Advisors LLC’s portfolio, making the stock its 2nd largest holding. Affinity Asset Advisors LLC’s holdings in Xenon Pharmaceuticals were worth $38,765,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Samlyn Capital LLC boosted its stake in shares of Xenon Pharmaceuticals by 61.5% during the 2nd quarter. Samlyn Capital LLC now owns 639,685 shares of the biopharmaceutical company’s stock worth $24,941,000 after acquiring an additional 243,489 shares in the last quarter. Logos Global Management LP purchased a new stake in Xenon Pharmaceuticals during the second quarter worth $14,621,000. Thrivent Financial for Lutherans acquired a new stake in Xenon Pharmaceuticals in the second quarter valued at $1,680,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in Xenon Pharmaceuticals in the second quarter valued at $1,574,000. Finally, XTX Topco Ltd purchased a new position in shares of Xenon Pharmaceuticals in the second quarter valued at $464,000. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on XENE shares. Needham & Company LLC decreased their price objective on shares of Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. William Blair raised shares of Xenon Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Wedbush lowered 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $55.00 target price on shares of Xenon Pharmaceuticals in a research note on Tuesday, September 3rd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 price target on shares of Xenon Pharmaceuticals in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.78.

Xenon Pharmaceuticals Stock Down 1.8 %

Shares of XENE stock opened at $38.93 on Wednesday. The firm’s 50 day moving average price is $40.68 and its two-hundred day moving average price is $40.49. Xenon Pharmaceuticals Inc. has a fifty-two week low of $27.99 and a fifty-two week high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.05). During the same quarter last year, the business posted ($0.72) earnings per share. Analysts expect that Xenon Pharmaceuticals Inc. will post -3.16 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.