Mirae Asset Global Investments Co. Ltd. Grows Stock Holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 21.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,740 shares of the biopharmaceutical company’s stock after buying an additional 487 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Xenon Pharmaceuticals were worth $106,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Driehaus Capital Management LLC increased its stake in Xenon Pharmaceuticals by 2.3% in the 2nd quarter. Driehaus Capital Management LLC now owns 4,419,472 shares of the biopharmaceutical company’s stock valued at $172,315,000 after purchasing an additional 97,732 shares in the last quarter. Capital International Investors grew its holdings in Xenon Pharmaceuticals by 0.8% in the first quarter. Capital International Investors now owns 2,475,859 shares of the biopharmaceutical company’s stock valued at $106,586,000 after purchasing an additional 20,176 shares during the last quarter. Affinity Asset Advisors LLC increased its position in shares of Xenon Pharmaceuticals by 18.7% in the second quarter. Affinity Asset Advisors LLC now owns 994,227 shares of the biopharmaceutical company’s stock valued at $38,765,000 after buying an additional 156,840 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in shares of Xenon Pharmaceuticals by 24.7% during the 1st quarter. Lord Abbett & CO. LLC now owns 895,196 shares of the biopharmaceutical company’s stock worth $38,539,000 after buying an additional 177,224 shares during the last quarter. Finally, Samlyn Capital LLC boosted its position in shares of Xenon Pharmaceuticals by 61.5% in the 2nd quarter. Samlyn Capital LLC now owns 639,685 shares of the biopharmaceutical company’s stock worth $24,941,000 after buying an additional 243,489 shares in the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

XENE has been the subject of a number of research reports. William Blair upgraded shares of Xenon Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Raymond James reaffirmed an “outperform” rating and issued a $50.00 target price on shares of Xenon Pharmaceuticals in a research note on Thursday, October 10th. HC Wainwright initiated coverage on Xenon Pharmaceuticals in a research report on Tuesday, October 1st. They set a “buy” rating and a $53.00 price target for the company. Royal Bank of Canada restated an “outperform” rating and issued a $55.00 price objective on shares of Xenon Pharmaceuticals in a research report on Tuesday, September 3rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 price objective on shares of Xenon Pharmaceuticals in a research report on Friday, August 9th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $57.45.

Xenon Pharmaceuticals Stock Performance

XENE opened at $41.71 on Tuesday. Xenon Pharmaceuticals Inc. has a 1 year low of $27.99 and a 1 year high of $50.99. The company’s 50 day simple moving average is $40.62 and its 200 day simple moving average is $40.16. The stock has a market capitalization of $3.16 billion, a PE ratio of -15.22 and a beta of 1.25.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings data 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 quarter in the prior year, the firm earned ($0.72) EPS. As a group, sell-side analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current fiscal 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.