Ensign Peak Advisors Inc Sells 136,970 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Ensign Peak Advisors Inc reduced its position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 84.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 26,094 shares of the biopharmaceutical company's stock after selling 136,970 shares during the quarter. Ensign Peak Advisors Inc's holdings in Xenon Pharmaceuticals were worth $1,023,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Xenon Pharmaceuticals by 8.8% during the fourth quarter. FMR LLC now owns 7,525,290 shares of the biopharmaceutical company's stock valued at $294,991,000 after acquiring an additional 607,606 shares during the last quarter. Braidwell LP raised its holdings in shares of Xenon Pharmaceuticals by 7.6% during the fourth quarter. Braidwell LP now owns 2,913,964 shares of the biopharmaceutical company's stock valued at $114,227,000 after acquiring an additional 206,709 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Xenon Pharmaceuticals by 1.3% in the fourth quarter. Alliancebernstein L.P. now owns 1,443,180 shares of the biopharmaceutical company's stock worth $56,573,000 after acquiring an additional 18,445 shares during the period. JPMorgan Chase & Co. boosted its holdings in Xenon Pharmaceuticals by 38.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,356,895 shares of the biopharmaceutical company's stock valued at $53,190,000 after acquiring an additional 380,112 shares in the last quarter. Finally, Affinity Asset Advisors LLC boosted its holdings in Xenon Pharmaceuticals by 1.5% in the fourth quarter. Affinity Asset Advisors LLC now owns 1,161,237 shares of the biopharmaceutical company's stock valued at $45,520,000 after acquiring an additional 17,216 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. The Goldman Sachs Group decreased their price objective on shares of Xenon Pharmaceuticals from $60.00 to $52.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Deutsche Bank Aktiengesellschaft started coverage on shares of Xenon Pharmaceuticals in a report on Tuesday, February 11th. They issued a "buy" rating and a $67.00 price objective for the company. Wall Street Zen lowered Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Wednesday. Wells Fargo & Company decreased their price objective on Xenon Pharmaceuticals from $50.00 to $47.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Finally, William Blair restated an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Monday, May 5th. One analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $54.82.

Xenon Pharmaceuticals Price Performance

Xenon Pharmaceuticals stock traded down $0.03 during mid-day trading on Thursday, reaching $30.43. The stock had a trading volume of 122,599 shares, compared to its average volume of 513,841. Xenon Pharmaceuticals Inc. has a one year low of $26.74 and a one year high of $46.00. The company has a 50-day moving average price of $33.83 and a two-hundred day moving average price of $37.74. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of -10.78 and a beta of 1.21.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last issued its earnings results on Monday, May 12th. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.90) by $0.07. The firm had revenue of $7.50 million during the quarter, compared to analysts' expectations of $1.64 million. During the same period last year, the firm posted ($0.62) earnings per share. On average, equities research analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current fiscal year.

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.