Candriam S.C.A. Cuts Position in 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. lowered its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 7.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 454,650 shares of the biopharmaceutical company's stock after selling 37,531 shares during the quarter. Candriam S.C.A. owned about 0.59% of Xenon Pharmaceuticals worth $15,254,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new position in Xenon Pharmaceuticals in the first quarter valued at about $30,000. GF Fund Management CO. LTD. acquired a new position in Xenon Pharmaceuticals in the fourth quarter valued at about $63,000. Quarry LP acquired a new position in Xenon Pharmaceuticals in the fourth quarter valued at about $78,000. Vident Advisory LLC acquired a new position in Xenon Pharmaceuticals in the fourth quarter valued at about $212,000. Finally, Tema Etfs LLC acquired a new position in Xenon Pharmaceuticals in the fourth quarter valued at about $240,000. Institutional investors and hedge funds own 95.45% of the company's stock.

Xenon Pharmaceuticals Stock Up 0.4%

NASDAQ:XENE traded up $0.16 on Tuesday, reaching $38.30. 114,012 shares of the company's stock were exchanged, compared to its average volume of 890,312. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of -10.79 and a beta of 1.16. The business has a fifty day moving average of $33.28 and a 200-day moving average of $33.90. Xenon Pharmaceuticals Inc. has a 52-week low of $26.74 and a 52-week high of $46.00.

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 for the quarter, missing analysts' consensus estimates of ($1.03) by ($0.04). During the same period in the previous year, the firm posted ($0.75) EPS. As a group, equities analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on XENE shares. Needham & Company LLC decreased their target price on shares of Xenon Pharmaceuticals from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Chardan Capital reaffirmed a "buy" rating and issued a $55.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday, August 12th. Royal Bank Of Canada cut their price target on shares of Xenon Pharmaceuticals from $57.00 to $55.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. William Blair reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Monday, May 5th. Finally, Wall Street Zen lowered shares of Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Eleven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $53.20.

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.