Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Shares Sold by Bellevue Group AG

Bellevue Group AG reduced its stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 35.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 14,100 shares of the biopharmaceutical company’s stock after selling 7,900 shares during the period. Bellevue Group AG’s holdings in Xenon Pharmaceuticals were worth $607,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its position in shares of Xenon Pharmaceuticals by 414.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,014 shares of the biopharmaceutical company’s stock valued at $47,000 after acquiring an additional 817 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Xenon Pharmaceuticals by 51.2% during the 4th quarter. Parallel Advisors LLC now owns 1,125 shares of the biopharmaceutical company’s stock worth $52,000 after purchasing an additional 381 shares during the last quarter. PNC Financial Services Group Inc. acquired a new position in shares of Xenon Pharmaceuticals during the 4th quarter worth approximately $91,000. 17 Capital Partners LLC acquired a new position in shares of Xenon Pharmaceuticals during the 1st quarter worth approximately $122,000. Finally, EntryPoint Capital LLC acquired a new position in Xenon Pharmaceuticals in the first quarter valued at approximately $195,000. 95.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

XENE has been the topic of a number of research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $55.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday, June 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Xenon Pharmaceuticals in a research report on Wednesday, April 10th. Wedbush dropped their target price on Xenon Pharmaceuticals from $51.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, May 10th. Needham & Company LLC reissued a “buy” rating and issued a $62.00 target price on shares of Xenon Pharmaceuticals in a report on Friday, May 10th. Finally, Citigroup dropped their target price on Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $59.11.

Xenon Pharmaceuticals Stock Performance

NASDAQ XENE traded down $0.24 during trading hours on Monday, hitting $43.72. The company had a trading volume of 208,318 shares, compared to its average volume of 405,929. Xenon Pharmaceuticals Inc. has a 1-year low of $27.99 and a 1-year high of $50.99. The company has a market cap of $3.30 billion, a PE ratio of -16.13 and a beta of 1.26. The business has a 50 day moving average of $39.03 and a 200-day moving average of $42.45.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.62) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.07. The business had revenue of $1.00 million for the quarter. During the same period last year, the business earned ($0.63) EPS. The business’s revenue for the quarter was up .0% on a year-over-year basis. Sell-side analysts expect that Xenon Pharmaceuticals Inc. will post -2.98 earnings per share for the current fiscal year.

Xenon Pharmaceuticals Profile

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.