Baker BROS. Advisors LP Has $11.66 Million Position in 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 lowered its holdings in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 65.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 347,408 shares of the biopharmaceutical company's stock after selling 646,271 shares during the period. Baker BROS. Advisors LP owned about 0.45% of Xenon Pharmaceuticals worth $11,656,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the company. Stempoint Capital LP purchased a new position in Xenon Pharmaceuticals during the 4th quarter valued at about $14,733,000. Janus Henderson Group PLC boosted its position in shares of Xenon Pharmaceuticals by 12.3% in the fourth quarter. Janus Henderson Group PLC now owns 2,866,755 shares of the biopharmaceutical company's stock worth $112,425,000 after purchasing an additional 314,363 shares during the period. Polar Capital Holdings Plc boosted its position in shares of Xenon Pharmaceuticals by 10.3% in the fourth quarter. Polar Capital Holdings Plc now owns 2,697,657 shares of the biopharmaceutical company's stock worth $105,748,000 after purchasing an additional 253,012 shares during the period. Westfield Capital Management Co. LP lifted its holdings in shares of Xenon Pharmaceuticals by 20.2% in the first quarter. Westfield Capital Management Co. LP now owns 1,391,370 shares of the biopharmaceutical company's stock worth $46,680,000 after buying an additional 234,181 shares in the last quarter. Finally, Braidwell LP lifted its holdings in shares of Xenon Pharmaceuticals by 7.6% in the 4th 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 during the last quarter. Institutional investors own 95.45% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Royal Bank Of Canada reiterated an "outperform" rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a research note on Tuesday, September 2nd. Chardan Capital reaffirmed a "buy" rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, August 12th. Evercore ISI started coverage on shares of Xenon Pharmaceuticals in a research report on Wednesday, May 14th. They issued an "outperform" rating and a $55.00 target price on the stock. Needham & Company LLC reduced 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. Finally, Wall Street Zen cut shares of Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Eleven research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $53.30.

Xenon Pharmaceuticals Stock Up 1.5%

Shares of Xenon Pharmaceuticals stock traded up $0.57 on Friday, hitting $39.21. 646,087 shares of the company's stock traded hands, compared to its average volume of 792,751. The stock has a market cap of $3.02 billion, a P/E ratio of -11.05 and a beta of 1.17. Xenon Pharmaceuticals Inc. has a 52-week low of $26.74 and a 52-week high of $46.00. The firm's 50-day moving average is $34.52 and its 200 day moving average is $33.89.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last issued its earnings results on Monday, August 11th. The biopharmaceutical company reported ($1.07) earnings per share for the quarter, missing the consensus estimate of ($1.03) by ($0.04). During the same period in the previous year, the business earned ($0.75) earnings per share. Equities research analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 EPS 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.