Arizona State Retirement System Buys 688 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Arizona State Retirement System raised its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 4.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,949 shares of the biopharmaceutical company’s stock after buying an additional 688 shares during the period. Arizona State Retirement System’s holdings in Xenon Pharmaceuticals were worth $700,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in XENE. Wellington Management Group LLP boosted its stake in shares of Xenon Pharmaceuticals by 140.9% in the 4th quarter. Wellington Management Group LLP now owns 4,162,654 shares of the biopharmaceutical company’s stock valued at $191,732,000 after purchasing an additional 2,434,546 shares during the last quarter. First Light Asset Management LLC boosted its position in Xenon Pharmaceuticals by 173.3% during the fourth quarter. First Light Asset Management LLC now owns 1,645,490 shares of the biopharmaceutical company’s stock valued at $75,791,000 after acquiring an additional 1,043,420 shares during the last quarter. Avoro Capital Advisors LLC boosted its position in Xenon Pharmaceuticals by 15.6% during the fourth quarter. Avoro Capital Advisors LLC now owns 5,666,666 shares of the biopharmaceutical company’s stock valued at $261,007,000 after acquiring an additional 766,666 shares during the last quarter. Avidity Partners Management LP grew its holdings in Xenon Pharmaceuticals by 153.9% during the 4th quarter. Avidity Partners Management LP now owns 815,993 shares of the biopharmaceutical company’s stock worth $37,585,000 after acquiring an additional 494,593 shares during the period. Finally, Perceptive Advisors LLC raised its position in shares of Xenon Pharmaceuticals by 78.3% in the 4th quarter. Perceptive Advisors LLC now owns 1,100,748 shares of the biopharmaceutical company’s stock worth $50,700,000 after acquiring an additional 483,248 shares in the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Xenon Pharmaceuticals Stock Up 3.7 %

XENE stock opened at $40.84 on Monday. The firm has a market capitalization of $3.09 billion, a PE ratio of -15.07 and a beta of 1.25. Xenon Pharmaceuticals Inc. has a twelve month low of $27.99 and a twelve month high of $50.99. The stock’s 50 day moving average is $40.79 and its 200-day moving average is $40.80.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings data 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 period in the previous year, the firm earned ($0.72) EPS. On average, equities research analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

XENE has been the topic of several recent analyst reports. Needham & Company LLC dropped their price target on Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 price target on shares of Xenon Pharmaceuticals in a report on Friday, August 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd. William Blair upgraded Xenon Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Finally, Wedbush decreased their target price on Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $58.78.

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.