Harbor Capital Advisors Inc. Increases Stock Holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Harbor Capital Advisors Inc. boosted its holdings in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 13.6% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 56,591 shares of the biopharmaceutical company’s stock after buying an additional 6,773 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Xenon Pharmaceuticals were worth $1,899,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. acquired a new position in shares of Xenon Pharmaceuticals during the fourth quarter valued at about $63,000. Quarry LP purchased a new stake in Xenon Pharmaceuticals during the 4th quarter worth approximately $78,000. Magnetar Financial LLC acquired a new position in Xenon Pharmaceuticals during the 4th quarter valued at approximately $210,000. Vident Advisory LLC purchased a new position in shares of Xenon Pharmaceuticals in the fourth quarter worth $212,000. Finally, HighMark Wealth Management LLC raised its holdings in shares of Xenon Pharmaceuticals by 22.0% in the fourth quarter. HighMark Wealth Management LLC now owns 6,100 shares of the biopharmaceutical company’s stock worth $239,000 after buying an additional 1,100 shares during the last quarter. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Stock Up 0.3%

Shares of XENE opened at $32.26 on Thursday. Xenon Pharmaceuticals Inc. has a 52 week low of $26.74 and a 52 week high of $46.00. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of -11.44 and a beta of 1.09. The stock’s 50-day moving average price is $32.81 and its 200-day moving average price is $36.53.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings results on Monday, May 12th. The biopharmaceutical company reported ($0.83) earnings per share for the quarter, beating the consensus estimate of ($0.90) by $0.07. The company had revenue of $7.50 million for the quarter, compared to analysts’ expectations of $1.64 million. During the same quarter in the prior year, the business posted ($0.62) earnings per share. As a group, equities analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on XENE. Chardan Capital reissued a “buy” rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a report on Tuesday, May 13th. Wells Fargo & Company dropped their price target on Xenon Pharmaceuticals from $50.00 to $47.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. Royal Bank of Canada reduced their price objective on Xenon Pharmaceuticals from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. William Blair reaffirmed an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Monday, May 5th. Finally, The Goldman Sachs Group cut their price target on shares of Xenon Pharmaceuticals from $60.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $54.82.

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.