Eversept Partners LP Lowers Holdings in Xenon Pharmaceuticals Inc. $XENE

Key Points

• Eversept Partners cut its Xenon Pharmaceuticals stake by 44% in the first quarter, selling 101,806 shares and retaining 129,574 shares valued at approximately $7.5 million.
• Institutional ownership remains high at 95.45%, with Goldman Sachs and AllianceBernstein increasing their positions while several other investment firms initiated new stakes.
• Analysts maintain a broadly positive outlook, with a consensus “Buy” rating and a $77.20 price target; XENE recently traded at $65.78, while insider directors disclosed share sales.

Eversept Partners LP reduced its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 44.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 129,574 shares of the biopharmaceutical company's stock after selling 101,806 shares during the quarter. Eversept Partners LP owned about 0.13% of Xenon Pharmaceuticals worth $7,535,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of XENE. Goldman Sachs Group Inc. lifted its stake in shares of Xenon Pharmaceuticals by 7.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 442,732 shares of the biopharmaceutical company's stock worth $14,854,000 after acquiring an additional 32,486 shares during the period. Jump Financial LLC acquired a new position in shares of Xenon Pharmaceuticals during the second quarter worth about $532,000. Sei Investments Co. purchased a new position in Xenon Pharmaceuticals during the second quarter worth about $711,000. The Manufacturers Life Insurance Company purchased a new position in Xenon Pharmaceuticals during the second quarter worth about $816,000. Finally, Alliancebernstein L.P. lifted its position in Xenon Pharmaceuticals by 14.2% in the second quarter. Alliancebernstein L.P. now owns 1,518,527 shares of the biopharmaceutical company's stock valued at $47,530,000 after purchasing an additional 189,141 shares during the period. Hedge funds and other institutional investors own 95.45% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on XENE shares. JPMorgan Chase & Co. lifted their price objective on Xenon Pharmaceuticals from $80.00 to $82.00 and gave the company an "overweight" rating in a report on Wednesday, May 27th. Royal Bank Of Canada increased their target price on Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an "outperform" rating in a research note on Friday, May 8th. Weiss Ratings restated a "sell (d-)" rating on shares of Xenon Pharmaceuticals in a research note on Monday, July 6th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $69.00 price objective on shares of Xenon Pharmaceuticals in a report on Sunday, May 10th. Finally, Needham & Company LLC cut their price objective on Xenon Pharmaceuticals from $80.00 to $78.00 and set a "buy" rating for the company in a research report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $77.20.

Insider Buying and Selling at Xenon Pharmaceuticals

In other Xenon Pharmaceuticals news, Director Gary Patou sold 1,322 shares of the business's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $53.14, for a total transaction of $70,251.08. Following the sale, the director directly owned 24,896 shares in the company, valued at approximately $1,322,973.44. The trade was a 5.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gillian Cannon sold 1,190 shares of the company's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $53.14, for a total value of $63,236.60. Following the completion of the sale, the director directly owned 1,455 shares in the company, valued at $77,318.70. This trade represents a 44.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.91% of the company's stock.

Xenon Pharmaceuticals Trading Up 0.6%

Shares of Xenon Pharmaceuticals stock opened at $65.78 on Tuesday. The company has a 50-day moving average of $58.54 and a two-hundred day moving average of $52.87. Xenon Pharmaceuticals Inc. has a 12-month low of $30.00 and a 12-month high of $72.66. The stock has a market cap of $6.36 billion, a PE ratio of -14.00 and a beta of 0.61.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.17) EPS for the quarter, hitting the consensus estimate of ($1.17). During the same period in the previous year, the business posted ($0.83) EPS. On average, sell-side analysts forecast that Xenon Pharmaceuticals Inc. will post -4.92 EPS for the current fiscal year.

About Xenon Pharmaceuticals

Xenon Pharmaceuticals Inc is a clinical‐stage biopharmaceutical company dedicated to discovering and developing novel, small‐molecule drugs targeting ion channels in the central and peripheral nervous system. The company's research focus centers on neurological and pain disorders—including epilepsy, migraine, and neuropathic pain—by modulating key ion‐channel proteins to restore normal neuronal function. Xenon's scientific platform draws upon advances in ion‐channel biology and structure‐based drug design to identify and optimize therapeutic candidates with the potential for improved safety and efficacy profiles compared with existing treatments.

The company's pipeline comprises multiple preclinical and clinical programs.

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