Quarry LP Has $156,000 Position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Quarry LP increased its holdings in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 207.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,000 shares of the biopharmaceutical company’s stock after acquiring an additional 2,700 shares during the quarter. Quarry LP’s holdings in Xenon Pharmaceuticals were worth $156,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Driehaus Capital Management LLC increased its holdings in shares of Xenon Pharmaceuticals by 2.3% during the 2nd quarter. Driehaus Capital Management LLC now owns 4,419,472 shares of the biopharmaceutical company’s stock worth $172,315,000 after acquiring an additional 97,732 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Xenon Pharmaceuticals by 109.9% during the 2nd quarter. Millennium Management LLC now owns 175,584 shares of the biopharmaceutical company’s stock worth $6,846,000 after acquiring an additional 91,923 shares during the last quarter. Affinity Asset Advisors LLC increased its holdings in shares of Xenon Pharmaceuticals by 18.7% during the 2nd quarter. Affinity Asset Advisors LLC now owns 994,227 shares of the biopharmaceutical company’s stock worth $38,765,000 after acquiring an additional 156,840 shares during the last quarter. Samlyn Capital LLC increased its holdings in shares of Xenon Pharmaceuticals by 61.5% during the 2nd quarter. Samlyn Capital LLC now owns 639,685 shares of the biopharmaceutical company’s stock worth $24,941,000 after acquiring an additional 243,489 shares during the last quarter. Finally, Logos Global Management LP acquired a new position in shares of Xenon Pharmaceuticals during the 2nd quarter worth approximately $14,621,000. 95.45% of the stock is owned by institutional investors and hedge funds.

Xenon Pharmaceuticals Stock Performance

XENE opened at $39.37 on Tuesday. The firm has a market cap of $2.97 billion, a P/E ratio of -14.53 and a beta of 1.25. Xenon Pharmaceuticals Inc. has a 52-week low of $27.99 and a 52-week high of $50.99. The business’s fifty day moving average is $40.46 and its 200-day moving average is $40.36.

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

Analyst Upgrades and Downgrades

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