Entropy Technologies LP Purchases New Holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Entropy Technologies LP purchased a new position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,649 shares of the biopharmaceutical company’s stock, valued at approximately $415,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of XENE. Franklin Resources Inc. raised its position in shares of Xenon Pharmaceuticals by 70.2% in the fourth quarter. Franklin Resources Inc. now owns 293,825 shares of the biopharmaceutical company’s stock valued at $13,534,000 after purchasing an additional 121,213 shares during the period. GSA Capital Partners LLP bought a new position in Xenon Pharmaceuticals in the 1st quarter valued at about $930,000. Perceptive Advisors LLC boosted its holdings in shares of Xenon Pharmaceuticals by 78.3% during the fourth quarter. Perceptive Advisors LLC now owns 1,100,748 shares of the biopharmaceutical company’s stock worth $50,700,000 after acquiring an additional 483,248 shares during the period. Affinity Asset Advisors LLC boosted its holdings in shares of Xenon Pharmaceuticals by 53.1% during the fourth quarter. Affinity Asset Advisors LLC now owns 460,000 shares of the biopharmaceutical company’s stock worth $21,188,000 after acquiring an additional 159,562 shares during the period. Finally, Lighthouse Investment Partners LLC bought a new position in shares of Xenon Pharmaceuticals during the fourth quarter worth approximately $1,279,000. Institutional investors own 95.45% of the company’s stock.

Xenon Pharmaceuticals Price Performance

NASDAQ:XENE traded down $0.42 during trading hours on Friday, hitting $41.67. The company’s stock had a trading volume of 334,985 shares, compared to its average volume of 501,794. Xenon Pharmaceuticals Inc. has a twelve month low of $27.99 and a twelve month high of $50.99. The stock has a fifty day simple moving average of $38.65 and a 200-day simple moving average of $42.60. The company has a market capitalization of $3.14 billion, a P/E ratio of -15.38 and a beta of 1.26.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.62) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.07. The company had revenue of $1.00 million during the quarter. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.63) EPS. On average, equities analysts predict that Xenon Pharmaceuticals Inc. will post -2.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on XENE shares. Wedbush reduced their price target on Xenon Pharmaceuticals from $51.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 price objective on shares of Xenon Pharmaceuticals in a research note on Wednesday, April 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, June 18th. Needham & Company LLC reiterated a “buy” rating and issued a $62.00 price target on shares of Xenon Pharmaceuticals in a research note on Friday, May 10th. Finally, Citigroup lowered their price objective on Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Xenon Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $59.11.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN496, a Kv7 potassium channel opener that is Phase III clinical trials for the treatment of KCNQ2 developmental and epileptic encephalopathy; and XEN1101, a Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.