Baker BROS. Advisors LP Sells 646,271 Shares of Xenon Pharmaceuticals Inc. $XENE

Key Points

• Baker BROS. Advisors LP reduced its stake in Xenon Pharmaceuticals by 65.0%, selling 646,271 shares during the first quarter, leaving them with approximately 0.45% ownership valued at around $11.7 million.
• Several hedge funds have adjusted their holdings in Xenon Pharmaceuticals, with institutional investors now owning 95.45% of the company's stock.
• The company recently reported a quarterly earnings miss with an EPS of (1.07), falling short of analysts' expectations of (<1.03), while it currently maintains a consensus rating of "Buy".

Baker BROS. Advisors LP lessened its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 65.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 347,408 shares of the biopharmaceutical company's stock after selling 646,271 shares during the quarter. Baker BROS. Advisors LP owned approximately 0.45% of Xenon Pharmaceuticals worth $11,656,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of XENE. Raymond James Financial Inc. bought a new stake in shares of Xenon Pharmaceuticals in the 4th quarter worth approximately $797,000. Barclays PLC raised its holdings in shares of Xenon Pharmaceuticals by 20.9% in the 4th quarter. Barclays PLC now owns 18,127 shares of the biopharmaceutical company's stock worth $711,000 after purchasing an additional 3,134 shares during the period. Northern Trust Corp raised its holdings in shares of Xenon Pharmaceuticals by 51.6% in 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 period. Schonfeld Strategic Advisors LLC raised its holdings in shares of Xenon Pharmaceuticals by 11.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 15,150 shares of the biopharmaceutical company's stock worth $594,000 after purchasing an additional 1,568 shares during the period. Finally, Algert Global LLC raised its holdings in shares of Xenon Pharmaceuticals by 9.9% in the 4th quarter. Algert Global LLC now owns 241,417 shares of the biopharmaceutical company's stock worth $9,464,000 after purchasing an additional 21,772 shares during the period. Institutional investors own 95.45% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Wall Street Zen cut shares of Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. William Blair reissued an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Monday, May 5th. Needham & Company LLC lowered their target price on shares of Xenon Pharmaceuticals from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Evercore ISI initiated coverage on shares of Xenon Pharmaceuticals in a report on Wednesday, May 14th. They set an "outperform" rating and a $55.00 target price on the stock. Finally, Chardan Capital reissued a "buy" rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, August 12th. Eleven equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $53.20.

Xenon Pharmaceuticals Price Performance

XENE opened at $38.71 on Tuesday. The company has a fifty day moving average price of $33.97 and a 200-day moving average price of $33.89. The firm has a market capitalization of $2.98 billion, a P/E ratio of -10.90 and a beta of 1.17. Xenon Pharmaceuticals Inc. has a one year low of $26.74 and a one year high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The biopharmaceutical company reported ($1.07) EPS for the quarter, missing analysts' consensus estimates of ($1.03) by ($0.04). During the same quarter in the previous year, the firm posted ($0.75) EPS. On average, analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current 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.

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