First Light Asset Management LLC Has $21.07 Million Stake in Xenon Pharmaceuticals Inc. $XENE

Key Points

• First Light Asset Management LLC reduced its stake in Xenon Pharmaceuticals Inc. by 45.9%, selling 532,676 shares and now owning 627,904 shares, accounting for 2.4% of its holdings.
• Xenon Pharmaceuticals' stock currently has a consensus Buy rating from eleven analysts, with an average target price of $53.20.
• The company reported a loss of ($1.07) EPS for the latest quarter, missing the consensus estimate by $0.04.

First Light Asset Management LLC lessened its stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 45.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 627,904 shares of the biopharmaceutical company's stock after selling 532,676 shares during the period. Xenon Pharmaceuticals accounts for about 2.4% of First Light Asset Management LLC's portfolio, making the stock its 16th biggest position. First Light Asset Management LLC owned about 0.82% of Xenon Pharmaceuticals worth $21,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of the stock. Raymond James Financial Inc. bought a new position in shares of Xenon Pharmaceuticals in the 4th quarter valued at $797,000. Barclays PLC boosted its stake in Xenon Pharmaceuticals by 20.9% in the fourth quarter. Barclays PLC now owns 18,127 shares of the biopharmaceutical company's stock valued at $711,000 after buying an additional 3,134 shares in the last quarter. Northern Trust Corp boosted its stake in Xenon Pharmaceuticals by 51.6% in the fourth quarter. Northern Trust Corp now owns 65,783 shares of the biopharmaceutical company's stock valued at $2,579,000 after buying an additional 22,377 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its position in Xenon Pharmaceuticals by 11.5% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 15,150 shares of the biopharmaceutical company's stock valued at $594,000 after acquiring an additional 1,568 shares during the last quarter. Finally, Algert Global LLC raised its stake in Xenon Pharmaceuticals by 9.9% during the fourth quarter. Algert Global LLC now owns 241,417 shares of the biopharmaceutical company's stock worth $9,464,000 after acquiring an additional 21,772 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

XENE has been the topic of a number of research analyst reports. Wells Fargo & Company started coverage on shares of Xenon Pharmaceuticals in a research note on Wednesday. They issued an "overweight" rating and a $48.00 price target on the stock. Royal Bank Of Canada restated an "outperform" rating and issued a $55.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday. Evercore ISI began coverage on shares of Xenon Pharmaceuticals in a research note on Wednesday, May 14th. They set an "outperform" rating and a $55.00 target price on the stock. Wedbush upped their price target on shares of Xenon Pharmaceuticals from $42.00 to $43.00 and gave the stock an "outperform" rating in a report on Tuesday, August 12th. Finally, Needham & Company LLC cut their price objective on Xenon Pharmaceuticals from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Eleven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $53.30.

Xenon Pharmaceuticals Price Performance

Shares of XENE traded up $0.57 during mid-day trading on Friday, reaching $39.21. 646,087 shares of the company were exchanged, compared to its average volume of 803,703. The business has a 50 day simple moving average of $34.52 and a two-hundred day simple moving average of $33.96. 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 quarter last year, the business earned ($0.75) EPS. As a group, equities research analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current 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.