Mutual of America Capital Management LLC Buys New Position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Mutual of America Capital Management LLC purchased a new position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 48,763 shares of the biopharmaceutical company’s stock, valued at approximately $1,636,000. Mutual of America Capital Management LLC owned about 0.06% of Xenon Pharmaceuticals as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Prudential Financial Inc. increased its position in shares of Xenon Pharmaceuticals by 177.7% during the 4th quarter. Prudential Financial Inc. now owns 39,000 shares of the biopharmaceutical company’s stock worth $1,529,000 after purchasing an additional 24,956 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Xenon Pharmaceuticals by 38.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,356,895 shares of the biopharmaceutical company’s stock worth $53,190,000 after purchasing an additional 380,112 shares during the last quarter. Northern Trust Corp increased its position in shares of Xenon Pharmaceuticals by 51.6% during the 4th quarter. Northern Trust Corp now owns 65,783 shares of the biopharmaceutical company’s stock worth $2,579,000 after purchasing an additional 22,377 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Xenon Pharmaceuticals by 1.7% during the 4th quarter. Franklin Resources Inc. now owns 575,590 shares of the biopharmaceutical company’s stock worth $22,563,000 after purchasing an additional 9,675 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Xenon Pharmaceuticals by 39.1% during the 4th quarter. Ameriprise Financial Inc. now owns 92,350 shares of the biopharmaceutical company’s stock worth $3,620,000 after acquiring an additional 25,967 shares during the period. Institutional investors and hedge funds own 95.45% of the company’s stock.

Analyst Ratings Changes

XENE has been the subject of several research analyst reports. The Goldman Sachs Group reduced their target price on Xenon Pharmaceuticals from $60.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Wall Street Zen downgraded Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. Wells Fargo & Company reduced their target price on Xenon Pharmaceuticals from $50.00 to $47.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. Needham & Company LLC reduced their target price on Xenon Pharmaceuticals from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th. Finally, Chardan Capital reiterated a “buy” rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a research note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $54.82.

Xenon Pharmaceuticals Price Performance

XENE opened at $31.59 on Monday. The business has a fifty day simple moving average of $31.50 and a 200 day simple moving average of $34.89. The company has a market capitalization of $2.42 billion, a PE ratio of -9.78 and a beta of 1.10. Xenon Pharmaceuticals Inc. has a 1 year low of $26.74 and a 1 year high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings results on Monday, May 12th. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.90) by $0.07. The firm had revenue of $7.50 million during the quarter, compared to the consensus estimate of $1.64 million. During the same quarter last year, the firm earned ($0.62) earnings per share. Equities analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current fiscal year.

Xenon Pharmaceuticals 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.