Sphera Funds Management LTD. Acquires Shares of 52,097 Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Sphera Funds Management LTD. acquired a new stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 52,097 shares of the biopharmaceutical company’s stock, valued at approximately $2,042,000. Sphera Funds Management LTD. owned about 0.07% of Xenon Pharmaceuticals at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Polar Capital Holdings Plc raised its stake in shares of Xenon Pharmaceuticals by 10.3% during the fourth quarter. Polar Capital Holdings Plc now owns 2,697,657 shares of the biopharmaceutical company’s stock worth $105,748,000 after purchasing an additional 253,012 shares during the last quarter. MPM Bioimpact LLC grew its holdings in Xenon Pharmaceuticals by 18.9% in the fourth quarter. MPM Bioimpact LLC now owns 197,212 shares of the biopharmaceutical company’s stock valued at $7,731,000 after purchasing an additional 31,412 shares during the last quarter. Parkman Healthcare Partners LLC grew its holdings in Xenon Pharmaceuticals by 0.7% in the fourth quarter. Parkman Healthcare Partners LLC now owns 193,004 shares of the biopharmaceutical company’s stock valued at $7,566,000 after purchasing an additional 1,346 shares during the last quarter. Occudo Quantitative Strategies LP grew its holdings in Xenon Pharmaceuticals by 5.8% in the fourth quarter. Occudo Quantitative Strategies LP now owns 11,441 shares of the biopharmaceutical company’s stock valued at $448,000 after purchasing an additional 630 shares during the last quarter. Finally, Orbimed Advisors LLC grew its holdings in Xenon Pharmaceuticals by 4.0% in the fourth quarter. Orbimed Advisors LLC now owns 947,877 shares of the biopharmaceutical company’s stock valued at $37,157,000 after purchasing an additional 36,457 shares during the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Analyst Upgrades and Downgrades

XENE has been the topic of several analyst reports. William Blair reaffirmed an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Monday, May 5th. The Goldman Sachs Group decreased their target price on shares of Xenon Pharmaceuticals from $60.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Chardan Capital reaffirmed a “buy” rating and issued a $55.00 target price on shares of Xenon Pharmaceuticals in a research note on Tuesday. Royal Bank of Canada lowered their price target on Xenon Pharmaceuticals from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday. Finally, Needham & Company LLC dropped their price objective on Xenon Pharmaceuticals from $60.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $54.82.

Xenon Pharmaceuticals Trading Down 0.6%

XENE opened at $29.57 on Friday. Xenon Pharmaceuticals Inc. has a twelve month low of $26.74 and a twelve month high of $46.00. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of -10.49 and a beta of 1.21. The company has a fifty day simple moving average of $34.19 and a 200 day simple moving average of $38.03.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings data on Monday, May 12th. The biopharmaceutical company reported ($0.83) EPS for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.07. The firm had revenue of $7.50 million during the quarter, compared to analyst estimates of $1.64 million. During the same quarter in the prior year, the firm earned ($0.62) EPS. On average, analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current fiscal 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.