Logos Global Management LP Takes Position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Logos Global Management LP acquired a new stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 375,000 shares of the biopharmaceutical company’s stock, valued at approximately $14,621,000. Xenon Pharmaceuticals makes up 1.2% of Logos Global Management LP’s holdings, making the stock its 21st biggest holding. Logos Global Management LP owned 0.50% of Xenon Pharmaceuticals as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Avoro Capital Advisors LLC boosted its stake in shares of Xenon Pharmaceuticals by 15.6% in the fourth quarter. Avoro Capital Advisors LLC now owns 5,666,666 shares of the biopharmaceutical company’s stock worth $261,007,000 after acquiring an additional 766,666 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Xenon Pharmaceuticals by 140.9% in the fourth quarter. Wellington Management Group LLP now owns 4,162,654 shares of the biopharmaceutical company’s stock worth $191,732,000 after acquiring an additional 2,434,546 shares during the last quarter. Capital World Investors boosted its stake in Xenon Pharmaceuticals by 17.9% during the fourth quarter. Capital World Investors now owns 2,681,537 shares of the biopharmaceutical company’s stock worth $123,512,000 after buying an additional 406,563 shares during the last quarter. Capital International Investors boosted its stake in Xenon Pharmaceuticals by 0.8% during the first quarter. Capital International Investors now owns 2,475,859 shares of the biopharmaceutical company’s stock worth $106,586,000 after buying an additional 20,176 shares during the last quarter. Finally, Commodore Capital LP boosted its stake in Xenon Pharmaceuticals by 17.5% during the fourth quarter. Commodore Capital LP now owns 2,167,793 shares of the biopharmaceutical company’s stock worth $99,849,000 after buying an additional 322,793 shares during the last quarter. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Price Performance

Shares of NASDAQ XENE opened at $39.65 on Tuesday. The stock’s 50-day moving average is $40.76 and its two-hundred day moving average is $40.54. Xenon Pharmaceuticals Inc. has a 1-year low of $27.99 and a 1-year high of $50.99. The company has a market cap of $2.99 billion, a price-to-earnings ratio of -14.63 and a beta of 1.25.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.05). During the same period in the prior year, the firm posted ($0.72) earnings per share. Equities research analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a research note on Tuesday, September 3rd. Needham & Company LLC reduced their target price on Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Wedbush reduced their target price on Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. William Blair upgraded Xenon Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 target price on shares of Xenon Pharmaceuticals in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Xenon Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $58.78.

About Xenon Pharmaceuticals

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.