D. E. Shaw & Co. Inc. Sells 117,919 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

D. E. Shaw & Co. Inc. lowered its position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 57.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 86,973 shares of the biopharmaceutical company's stock after selling 117,919 shares during the quarter. D. E. Shaw & Co. Inc. owned about 0.11% of Xenon Pharmaceuticals worth $3,409,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of XENE. Deep Track Capital LP acquired a new position in shares of Xenon Pharmaceuticals during the fourth quarter valued at about $6,630,000. Braidwell LP raised 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 worth $114,227,000 after acquiring an additional 206,709 shares during the last quarter. Brevan Howard Capital Management LP raised its holdings in shares of Xenon Pharmaceuticals by 58.2% in the 4th quarter. Brevan Howard Capital Management LP now owns 19,005 shares of the biopharmaceutical company's stock worth $745,000 after acquiring an additional 6,993 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in shares of Xenon Pharmaceuticals by 119.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 184,580 shares of the biopharmaceutical company's stock worth $7,236,000 after acquiring an additional 100,382 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Xenon Pharmaceuticals by 39.1% in the 4th quarter. Ameriprise Financial Inc. now owns 92,350 shares of the biopharmaceutical company's stock worth $3,620,000 after acquiring an additional 25,967 shares during the last quarter. Institutional investors own 95.45% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. William Blair restated 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. Wells Fargo & Company lowered their target price on shares of Xenon Pharmaceuticals from $50.00 to $47.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Royal Bank of Canada lowered their target price on shares of Xenon Pharmaceuticals from $58.00 to $55.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Finally, The Goldman Sachs Group lowered their target price on shares of Xenon Pharmaceuticals from $60.00 to $52.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Xenon Pharmaceuticals has an average rating of "Moderate Buy" and an average target price of $54.82.

Xenon Pharmaceuticals Stock Performance

NASDAQ:XENE opened at $30.29 on Monday. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of -10.74 and a beta of 1.21. Xenon Pharmaceuticals Inc. has a 52 week low of $26.74 and a 52 week high of $46.00. The firm has a 50-day moving average price of $34.10 and a two-hundred day moving average price of $37.91.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last released its earnings results on Monday, May 12th. The biopharmaceutical company reported ($0.83) earnings per share for the quarter, beating analysts' consensus estimates of ($0.90) by $0.07. The company had revenue of $7.50 million for the quarter, compared to the consensus estimate of $1.64 million. During the same period in the prior year, the company earned ($0.62) earnings per share. As a group, sell-side analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

About Xenon Pharmaceuticals

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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