Envestnet Asset Management Inc. Has $1.85 Million Stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Envestnet Asset Management Inc. reduced its holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 47,297 shares of the biopharmaceutical company’s stock after selling 1,539 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Xenon Pharmaceuticals were worth $1,854,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in XENE. Blue Trust Inc. increased its holdings in shares of Xenon Pharmaceuticals by 140.3% during the fourth quarter. Blue Trust Inc. now owns 2,422 shares of the biopharmaceutical company’s stock valued at $95,000 after acquiring an additional 1,414 shares in the last quarter. Avior Wealth Management LLC bought a new stake in Xenon Pharmaceuticals during the fourth quarter worth $101,000. KBC Group NV grew its stake in Xenon Pharmaceuticals by 39.8% in the 4th quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company’s stock valued at $107,000 after purchasing an additional 780 shares during the period. Magnetar Financial LLC bought a new position in Xenon Pharmaceuticals in the 4th quarter valued at $210,000. Finally, HighMark Wealth Management LLC grew its stake in Xenon Pharmaceuticals by 22.0% in the 4th quarter. HighMark Wealth Management LLC now owns 6,100 shares of the biopharmaceutical company’s stock valued at $239,000 after purchasing an additional 1,100 shares during the period. 95.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

XENE has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft began coverage on Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating and a $67.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. StockNews.com raised shares of Xenon Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday. The Goldman Sachs Group cut their price objective on shares of Xenon Pharmaceuticals from $60.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $53.00 price objective on shares of Xenon Pharmaceuticals in a research note on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Xenon Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $56.78.

Xenon Pharmaceuticals Trading Down 1.5 %

Shares of NASDAQ XENE opened at $37.62 on Monday. Xenon Pharmaceuticals Inc. has a 12 month low of $26.74 and a 12 month high of $46.00. The firm has a market capitalization of $2.88 billion, a PE ratio of -13.34 and a beta of 1.21. The firm has a fifty day simple moving average of $34.80 and a two-hundred day simple moving average of $38.66.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.05. On average, sell-side analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

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.