Candriam S.C.A. Sells 37,531 Shares of Xenon Pharmaceuticals Inc. $XENE

Key Points

• Candriam S.C.A. has reduced its stake in Xenon Pharmaceuticals by 7.6%, owning 454,650 shares worth approximately $15.25 million after selling 37,531 shares.
• Despite the reduction in holdings, around 95.45% of Xenon's shares are owned by hedge funds and institutional investors, indicating significant institutional interest.
• Xenon Pharmaceuticals reported a quarterly loss of ($1.07) earnings per share, missing analysts' expectations, and anticipates a projected EPS of ($3.10) for the fiscal year.

Candriam S.C.A. trimmed its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 7.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 454,650 shares of the biopharmaceutical company's stock after selling 37,531 shares during the quarter. Candriam S.C.A. owned approximately 0.59% of Xenon Pharmaceuticals worth $15,254,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of Xenon Pharmaceuticals in the 1st quarter valued at about $30,000. GF Fund Management CO. LTD. bought a new stake in shares of Xenon Pharmaceuticals in the 4th quarter valued at about $63,000. Quarry LP bought a new position in Xenon Pharmaceuticals in the 4th quarter valued at about $78,000. Vident Advisory LLC acquired a new stake in Xenon Pharmaceuticals during the fourth quarter worth approximately $212,000. Finally, Tema Etfs LLC acquired a new stake in Xenon Pharmaceuticals during the fourth quarter worth approximately $240,000. 95.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Chardan Capital restated a "buy" rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a research report on Tuesday, August 12th. Wall Street Zen downgraded shares of Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Wells Fargo & Company cut their price objective on shares of Xenon Pharmaceuticals from $50.00 to $47.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Needham & Company LLC cut their price objective on shares of Xenon Pharmaceuticals from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Finally, William Blair restated an "outperform" rating on shares of Xenon Pharmaceuticals in a research report on Monday, May 5th. 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 $53.20.

Xenon Pharmaceuticals Stock Up 1.7%

Shares of XENE traded up $0.66 during mid-day trading on Friday, hitting $38.84. 1,186,173 shares of the company's stock were exchanged, compared to its average volume of 1,059,102. Xenon Pharmaceuticals Inc. has a 52 week low of $26.74 and a 52 week high of $46.00. The stock's 50-day simple moving average is $33.16 and its 200-day simple moving average is $33.95. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of -10.94 and a beta of 1.16.

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

Xenon Pharmaceuticals 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.