Xenon Pharmaceuticals Inc. $XENE Shares Sold by Harbor Capital Advisors Inc.

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

A number of other hedge funds have also modified their holdings of the business. Northern Trust Corp raised its position in Xenon Pharmaceuticals by 51.6% in the 4th quarter. Northern Trust Corp now owns 65,783 shares of the biopharmaceutical company's stock valued at $2,579,000 after purchasing an additional 22,377 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Xenon Pharmaceuticals by 39.1% during the fourth quarter. Ameriprise Financial Inc. now owns 92,350 shares of the biopharmaceutical company's stock worth $3,620,000 after buying an additional 25,967 shares during the period. Mutual of America Capital Management LLC purchased a new position in shares of Xenon Pharmaceuticals during the first quarter worth about $1,636,000. Natixis Advisors LLC increased its position in Xenon Pharmaceuticals by 1.9% in the 1st quarter. Natixis Advisors LLC now owns 24,010 shares of the biopharmaceutical company's stock valued at $806,000 after acquiring an additional 456 shares during the period. Finally, Bank of New York Mellon Corp raised 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 valued at $8,426,000 after acquiring an additional 204,550 shares during the last quarter. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Stock Up 1.2%

Shares of XENE traded up $0.45 on Monday, reaching $37.40. The stock had a trading volume of 867,586 shares, compared to its average volume of 604,061. Xenon Pharmaceuticals Inc. has a twelve month low of $26.74 and a twelve month high of $46.00. The firm has a market capitalization of $2.88 billion, a PE ratio of -10.54 and a beta of 1.17. The firm has a 50-day moving average of $35.46 and a 200 day moving average of $33.84.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last posted its earnings results on Monday, August 11th. The biopharmaceutical company reported ($1.07) EPS for the quarter, missing analysts' consensus estimates of ($1.03) by ($0.04). During the same period in the prior year, the firm posted ($0.75) earnings per share. On average, sell-side analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on XENE. Chardan Capital reissued a "buy" rating and issued a $55.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, August 12th. Wedbush raised their target price 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 started coverage on shares of Xenon Pharmaceuticals in a report on Wednesday, September 3rd. They set an "overweight" rating and a $48.00 price target for the company. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday, September 2nd. Eleven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price 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.