Harbor Capital Advisors Inc. Decreases Stock Position in Xenon Pharmaceuticals Inc. $XENE

Key Points

• Harbor Capital Advisors Inc. reduced its holdings in Xenon Pharmaceuticals Inc. by 46.9%, selling 26,555 shares and leaving them with 30,036 shares valued at approximately $940,000.
• Analysts have a positive outlook for Xenon Pharmaceuticals, with recent reports giving the stock a consensus target price of $53.30 and eleven analysts rating it as a Buy.
• Xenon Pharmaceuticals reported a loss of ($1.07) per share in its latest earnings, missing the consensus estimate by $0.04, while analysts expect a projected EPS of -3.1 for the current year.

Harbor Capital Advisors Inc. trimmed its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 46.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,036 shares of the biopharmaceutical company's stock after selling 26,555 shares during the period. Harbor Capital Advisors Inc.'s holdings in Xenon Pharmaceuticals were worth $940,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of XENE. Vestal Point Capital LP grew its position in shares of Xenon Pharmaceuticals by 60.5% in the 1st quarter. Vestal Point Capital LP now owns 1,300,000 shares of the biopharmaceutical company's stock valued at $43,615,000 after buying an additional 490,000 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in Xenon Pharmaceuticals by 20.2% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,391,370 shares of the biopharmaceutical company's stock worth $46,680,000 after purchasing an additional 234,181 shares during the period. Bank of New York Mellon Corp boosted its stake in Xenon Pharmaceuticals by 439.0% during the 1st quarter. Bank of New York Mellon Corp now owns 251,147 shares of the biopharmaceutical company's stock worth $8,426,000 after purchasing an additional 204,550 shares during the period. Affinity Asset Advisors LLC boosted its stake in Xenon Pharmaceuticals by 14.4% during the 1st quarter. Affinity Asset Advisors LLC now owns 1,328,175 shares of the biopharmaceutical company's stock worth $44,560,000 after purchasing an additional 166,938 shares during the period. Finally, Millennium Management LLC boosted its stake in Xenon Pharmaceuticals by 65.5% during the 4th quarter. Millennium Management LLC now owns 346,040 shares of the biopharmaceutical company's stock worth $13,565,000 after purchasing an additional 137,014 shares during the period. 95.45% of the stock is owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Stock Down 2.1%

Shares of NASDAQ:XENE traded down $0.81 during trading on Friday, reaching $36.95. The stock had a trading volume of 1,032,322 shares, compared to its average volume of 611,755. The business has a fifty day moving average price of $35.36 and a 200-day moving average price of $33.88. The stock has a market cap of $2.85 billion, a P/E ratio of -10.41 and a beta of 1.17. Xenon Pharmaceuticals Inc. has a fifty-two week low of $26.74 and a fifty-two week high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last posted its quarterly earnings data 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 analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wedbush increased their price target on shares of Xenon Pharmaceuticals from $42.00 to $43.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 12th. Wells Fargo & Company assumed coverage on shares of Xenon Pharmaceuticals in a research note on Wednesday, September 3rd. They set an "overweight" rating and a $48.00 price target for the company. Chardan Capital reiterated a "buy" rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, August 12th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, September 2nd. Eleven investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $53.30.

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.