nVerses Capital LLC Makes New $102,000 Investment in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

nVerses Capital LLC acquired a new position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,600 shares of the biopharmaceutical company’s stock, valued at approximately $102,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. bought a new stake in Xenon Pharmaceuticals during the 4th quarter worth approximately $91,000. Quarry LP grew its holdings in shares of Xenon Pharmaceuticals by 207.7% in the second quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock valued at $156,000 after acquiring an additional 2,700 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of Xenon Pharmaceuticals in the first quarter valued at approximately $195,000. ProShare Advisors LLC grew its holdings in shares of Xenon Pharmaceuticals by 12.0% in the first quarter. ProShare Advisors LLC now owns 5,286 shares of the biopharmaceutical company’s stock valued at $228,000 after acquiring an additional 565 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its holdings in shares of Xenon Pharmaceuticals by 21.4% in the first quarter. Oppenheimer Asset Management Inc. now owns 5,374 shares of the biopharmaceutical company’s stock valued at $231,000 after acquiring an additional 946 shares in the last quarter. 95.45% of the stock is owned by institutional investors.

Xenon Pharmaceuticals Price Performance

NASDAQ:XENE opened at $44.86 on Monday. The company has a market cap of $3.39 billion, a P/E ratio of -16.55 and a beta of 1.25. The stock’s fifty day moving average price is $40.00 and its two-hundred day moving average price is $40.16. Xenon Pharmaceuticals Inc. has a 1 year low of $27.99 and a 1 year high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.05). During the same period in the prior year, the firm posted ($0.72) earnings per share. On average, analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. William Blair raised Xenon Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Xenon Pharmaceuticals in a report on Friday, August 9th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $55.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd. Needham & Company LLC reduced their price objective on Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, Raymond James reissued an “outperform” rating and set a $50.00 price objective on shares of Xenon Pharmaceuticals in a report on Thursday, October 10th. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $57.45.

Xenon Pharmaceuticals Company 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.