J. Safra Sarasin Holding AG Has $1.03 Million Position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Key Points

• J. Safra Sarasin Holding AG increased its stake in Xenon Pharmaceuticals by 71.9% in Q1, owning 30,573 shares valued at approximately $1.03 million.
• Several analysts have recently revised their price targets for Xenon, with HC Wainwright setting a price objective of $53.00 and others lowering their targets to around $47.00 to $55.00.
• Xenon Pharmaceuticals reported a revenue of $7.50 million for the last quarter, significantly beating expectations of $1.64 million, despite an earnings per share loss of ($0.83).

J. Safra Sarasin Holding AG raised its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 71.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 30,573 shares of the biopharmaceutical company's stock after buying an additional 12,787 shares during the period. J. Safra Sarasin Holding AG's holdings in Xenon Pharmaceuticals were worth $1,026,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of XENE. FMR LLC lifted its stake in Xenon Pharmaceuticals by 8.8% during the fourth quarter. FMR LLC now owns 7,525,290 shares of the biopharmaceutical company's stock worth $294,991,000 after purchasing an additional 607,606 shares in the last quarter. Boxer Capital Management LLC acquired a new stake in Xenon Pharmaceuticals in the fourth quarter valued at $23,520,000. JPMorgan Chase & Co. raised its stake in Xenon Pharmaceuticals by 38.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,356,895 shares of the biopharmaceutical company's stock valued at $53,190,000 after buying an additional 380,112 shares in the last quarter. Stempoint Capital LP acquired a new stake in Xenon Pharmaceuticals in the fourth quarter valued at $14,733,000. Finally, Janus Henderson Group PLC grew its holdings in shares of Xenon Pharmaceuticals by 12.3% during the fourth quarter. Janus Henderson Group PLC now owns 2,866,755 shares of the biopharmaceutical company's stock worth $112,425,000 after purchasing an additional 314,363 shares during the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on XENE shares. Wall Street Zen downgraded shares of Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Wells Fargo & Company lowered their price target on shares of Xenon Pharmaceuticals from $50.00 to $47.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. William Blair reissued an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Monday, May 5th. The Goldman Sachs Group decreased their price target on Xenon Pharmaceuticals from $60.00 to $52.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Finally, Evercore ISI assumed coverage on Xenon Pharmaceuticals in a research note on Wednesday, May 14th. They issued an "outperform" rating and a $55.00 target price on the stock. One investment analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $54.82.

Xenon Pharmaceuticals Stock Down 2.6%

Shares of XENE stock traded down $0.88 on Thursday, reaching $33.40. 326,227 shares of the stock were exchanged, compared to its average volume of 885,507. The firm has a 50 day moving average of $31.68 and a two-hundred day moving average of $34.24. The stock has a market cap of $2.56 billion, a P/E ratio of -10.35 and a beta of 1.16. Xenon Pharmaceuticals Inc. has a 1-year low of $26.74 and a 1-year high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.90) by $0.07. The company had revenue of $7.50 million during the quarter, compared to analyst estimates of $1.64 million. During the same quarter in the prior year, the company posted ($0.62) earnings per share. On average, equities research analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current fiscal year.

Xenon Pharmaceuticals Company 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.