Ally Bridge Group NY LLC Has $2.34 Million Holdings in Xenon Pharmaceuticals Inc. $XENE

Key Points

• Ally Bridge Group NY LLC reduced its position in Xenon Pharmaceuticals by 46.2% during the first quarter, now holding 69,603 shares worth approximately $2.34 million.
• Xenon Pharmaceuticals reported a quarterly earnings per share of ($1.07), missing analysts' expectations and indicating a significant decline from ($0.75) EPS in the previous year.
• Analysts generally have a positive outlook for Xenon Pharmaceuticals, with an average price target of $53.20 and a majority rating the stock as a "Buy."

Ally Bridge Group NY LLC cut its holdings in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 46.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,603 shares of the biopharmaceutical company's stock after selling 59,688 shares during the period. Xenon Pharmaceuticals makes up approximately 2.1% of Ally Bridge Group NY LLC's investment portfolio, making the stock its 18th largest holding. Ally Bridge Group NY LLC owned 0.09% of Xenon Pharmaceuticals worth $2,335,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new position in Xenon Pharmaceuticals during the first quarter worth about $30,000. GF Fund Management CO. LTD. bought a new position in Xenon Pharmaceuticals during the fourth quarter worth about $63,000. Vident Advisory LLC bought a new position in Xenon Pharmaceuticals during the fourth quarter worth about $212,000. Tema Etfs LLC bought a new position in Xenon Pharmaceuticals during the fourth quarter worth about $240,000. Finally, EntryPoint Capital LLC bought a new position in Xenon Pharmaceuticals during the first quarter worth about $298,000. 95.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on XENE. Chardan Capital restated a "buy" rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a report on Tuesday, August 12th. Wedbush boosted their price target on Xenon Pharmaceuticals from $42.00 to $43.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. Wells Fargo & Company began coverage on Xenon Pharmaceuticals in a report on Wednesday, September 3rd. They issued an "overweight" rating and a $48.00 price target on the stock. Evercore ISI began coverage on Xenon Pharmaceuticals in a report on Wednesday, May 14th. They issued an "outperform" rating and a $55.00 price target on the stock. Finally, HC Wainwright restated a "buy" rating and issued a $53.00 price target on shares of Xenon Pharmaceuticals in a report on Tuesday, May 13th. Eleven analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $53.30.

Xenon Pharmaceuticals Stock Performance

XENE traded down $1.04 on Monday, hitting $38.17. 321,197 shares of the company were exchanged, compared to its average volume of 878,012. Xenon Pharmaceuticals Inc. has a 12 month low of $26.74 and a 12 month high of $46.00. The company has a market cap of $2.94 billion, a PE ratio of -10.76 and a beta of 1.17. The stock's fifty day moving average is $34.52 and its 200-day moving average is $33.89.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last released its earnings results on Monday, August 11th. The biopharmaceutical company reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.03) by ($0.04). During the same period last year, the company posted ($0.75) earnings per share. As a group, equities research analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 EPS 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.