Parkman Healthcare Partners LLC lessened its holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 8.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 191,658 shares of the biopharmaceutical company's stock after selling 17,632 shares during the period. Parkman Healthcare Partners LLC owned about 0.25% of Xenon Pharmaceuticals worth $7,546,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Harbor Capital Advisors Inc. lifted its position in Xenon Pharmaceuticals by 647.8% during the second quarter. Harbor Capital Advisors Inc. now owns 24,116 shares of the biopharmaceutical company's stock valued at $940,000 after acquiring an additional 20,891 shares during the last quarter. Loomis Sayles & Co. L P lifted its holdings in shares of Xenon Pharmaceuticals by 7.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 707,222 shares of the biopharmaceutical company's stock valued at $27,843,000 after purchasing an additional 46,964 shares during the last quarter. Vestal Point Capital LP raised its stake in Xenon Pharmaceuticals by 57.1% in the third quarter. Vestal Point Capital LP now owns 825,000 shares of the biopharmaceutical company's stock valued at $32,480,000 after buying an additional 300,000 shares during the last quarter. Driehaus Capital Management LLC raised its stake in Xenon Pharmaceuticals by 2.3% in the second quarter. Driehaus Capital Management LLC now owns 4,419,472 shares of the biopharmaceutical company's stock valued at $172,315,000 after buying an additional 97,732 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ purchased a new stake in Xenon Pharmaceuticals in the second quarter valued at about $1,574,000. Hedge funds and other institutional investors own 95.45% of the company's stock.
Xenon Pharmaceuticals Stock Performance
Shares of NASDAQ XENE traded up $0.34 during mid-day trading on Wednesday, reaching $42.34. 281,117 shares of the company's stock were exchanged, compared to its average volume of 388,194. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of -15.02 and a beta of 1.19. The company's 50-day moving average is $41.58 and its 200-day moving average is $40.28. Xenon Pharmaceuticals Inc. has a 52-week low of $35.53 and a 52-week high of $50.99.
Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, topping analysts' consensus estimates of ($0.82) by $0.01. During the same quarter in the previous year, the firm posted ($0.73) EPS. As a group, equities analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on XENE. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd. HC Wainwright reissued a "buy" rating and set a $53.00 target price on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th. Raymond James reiterated an "outperform" rating and set a $50.00 price objective on shares of Xenon Pharmaceuticals in a research note on Thursday, October 10th. Wedbush decreased their price target on Xenon Pharmaceuticals from $50.00 to $49.00 and set an "outperform" rating for the company in a report on Friday, August 9th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $65.00 target price on shares of Xenon Pharmaceuticals in a report on Friday, August 9th. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Xenon Pharmaceuticals has a consensus rating of "Buy" and an average price target of $57.45.
Check Out Our Latest Stock Analysis on XENE
Insider Activity at Xenon Pharmaceuticals
In other Xenon Pharmaceuticals news, Director Gary Patou sold 4,891 shares of the firm's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $41.08, for a total value of $200,922.28. Following the completion of the transaction, the director now owns 23,573 shares of the company's stock, valued at $968,378.84. This trade represents a 17.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 5.52% of the stock is currently owned by company insiders.
About Xenon Pharmaceuticals
(
Free Report)
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.
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