Balyasny Asset Management L.P. Buys 100,382 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Balyasny Asset Management L.P. raised its holdings in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 119.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 184,580 shares of the biopharmaceutical company’s stock after purchasing an additional 100,382 shares during the quarter. Balyasny Asset Management L.P. owned approximately 0.24% of Xenon Pharmaceuticals worth $7,236,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of XENE. Quarry LP purchased a new stake in shares of Xenon Pharmaceuticals in the fourth quarter worth about $78,000. Blue Trust Inc. increased its stake in Xenon Pharmaceuticals by 140.3% in the 4th quarter. Blue Trust Inc. now owns 2,422 shares of the biopharmaceutical company’s stock worth $95,000 after acquiring an additional 1,414 shares during the last quarter. Avior Wealth Management LLC purchased a new stake in shares of Xenon Pharmaceuticals in the 4th quarter valued at about $101,000. KBC Group NV boosted its position in shares of Xenon Pharmaceuticals by 39.8% during the 4th quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company’s stock valued at $107,000 after acquiring an additional 780 shares during the last quarter. Finally, Magnetar Financial LLC purchased a new position in shares of Xenon Pharmaceuticals during the fourth quarter worth about $210,000. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Stock Performance

Shares of XENE stock opened at $35.13 on Friday. The company has a market capitalization of $2.69 billion, a P/E ratio of -12.46 and a beta of 1.21. Xenon Pharmaceuticals Inc. has a fifty-two week low of $26.74 and a fifty-two week high of $46.00. The stock has a 50 day moving average price of $34.59 and a two-hundred day moving average price of $38.33.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) EPS for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.05. As a group, equities analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on XENE shares. Deutsche Bank Aktiengesellschaft began coverage on shares of Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating and a $67.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a research report on Monday, February 24th. The Goldman Sachs Group lowered their price target on Xenon Pharmaceuticals from $60.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Royal Bank of Canada reiterated an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. Finally, Chardan Capital started coverage on Xenon Pharmaceuticals in a report on Wednesday. They set a “buy” rating and a $55.00 price objective on the stock. One analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Xenon Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $56.60.

About Xenon Pharmaceuticals

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.