Parkman Healthcare Partners LLC Has $7.57 Million Position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Parkman Healthcare Partners LLC raised its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 0.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 193,004 shares of the biopharmaceutical company’s stock after buying an additional 1,346 shares during the period. Parkman Healthcare Partners LLC owned about 0.25% of Xenon Pharmaceuticals worth $7,566,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC boosted its stake in Xenon Pharmaceuticals by 8.8% during the 4th quarter. FMR LLC now owns 7,525,290 shares of the biopharmaceutical company’s stock valued at $294,991,000 after purchasing an additional 607,606 shares during the last quarter. Boxer Capital Management LLC bought a new stake in Xenon Pharmaceuticals during the fourth quarter worth $23,520,000. JPMorgan Chase & Co. grew its holdings in Xenon Pharmaceuticals by 38.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,356,895 shares of the biopharmaceutical company’s stock worth $53,190,000 after buying an additional 380,112 shares in the last quarter. Janus Henderson Group PLC raised its position in Xenon Pharmaceuticals by 12.3% in the 4th quarter. Janus Henderson Group PLC now owns 2,866,755 shares of the biopharmaceutical company’s stock valued at $112,425,000 after buying an additional 314,363 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in Xenon Pharmaceuticals by 39.0% during the 4th quarter. Jennison Associates LLC now owns 801,553 shares of the biopharmaceutical company’s stock valued at $31,421,000 after acquiring an additional 224,892 shares in the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Xenon Pharmaceuticals Stock Performance

Shares of NASDAQ:XENE opened at $29.60 on Wednesday. Xenon Pharmaceuticals Inc. has a 52-week low of $26.74 and a 52-week high of $46.00. The firm has a market capitalization of $2.27 billion, a P/E ratio of -10.50 and a beta of 1.21. The stock has a 50 day moving average price of $34.41 and a 200-day moving average price of $38.18.

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

Analysts Set New Price Targets

XENE has been the subject of a number of research reports. Chardan Capital reissued a “buy” rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday. Needham & Company LLC cut their target price on Xenon Pharmaceuticals from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday. Wells Fargo & Company reduced their target price on Xenon Pharmaceuticals from $50.00 to $47.00 and set an “overweight” rating for the company in a report on Tuesday. William Blair reaffirmed an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Monday, May 5th. Finally, Royal Bank of Canada reduced their price target on shares of Xenon Pharmaceuticals from $58.00 to $55.00 and set an “outperform” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Xenon Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.80.

Xenon Pharmaceuticals 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.