Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Shares Sold by Jennison Associates LLC

Jennison Associates LLC decreased its position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 3.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 776,693 shares of the biopharmaceutical company's stock after selling 24,860 shares during the quarter. Jennison Associates LLC owned 1.01% of Xenon Pharmaceuticals worth $26,058,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in XENE. GF Fund Management CO. LTD. purchased a new position in shares of Xenon Pharmaceuticals during the 4th quarter valued at approximately $63,000. Quarry LP purchased a new position in shares of Xenon Pharmaceuticals during the 4th quarter valued at approximately $78,000. Magnetar Financial LLC purchased a new position in shares of Xenon Pharmaceuticals during the 4th quarter valued at approximately $210,000. Vident Advisory LLC purchased a new position in shares of Xenon Pharmaceuticals during the 4th quarter valued at approximately $212,000. Finally, NEOS Investment Management LLC purchased a new position in shares of Xenon Pharmaceuticals during the 4th quarter valued at approximately $240,000. Institutional investors and hedge funds own 95.45% of the company's stock.

Analyst Ratings Changes

XENE has been the topic of a number of research reports. Needham & Company LLC decreased 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. HC Wainwright reaffirmed a "buy" rating and set a $53.00 target price on shares of Xenon Pharmaceuticals in a research note on Tuesday, May 13th. Evercore ISI assumed 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. William Blair reaffirmed an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Monday, May 5th. Finally, Royal Bank Of Canada lowered their target price on shares of Xenon Pharmaceuticals from $58.00 to $55.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Xenon Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus target price of $54.82.

Xenon Pharmaceuticals Price Performance

Shares of XENE stock traded up $0.03 during trading hours on Wednesday, hitting $31.36. The stock had a trading volume of 141,299 shares, compared to its average volume of 644,876. Xenon Pharmaceuticals Inc. has a twelve month low of $26.74 and a twelve month high of $46.00. The stock's 50 day moving average is $31.50 and its 200 day moving average is $34.89. The firm has a market capitalization of $2.41 billion, a PE ratio of -9.72 and a beta of 1.10.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The biopharmaceutical company reported ($0.83) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.07. The company had revenue of $7.50 million for the quarter, compared to analysts' expectations of $1.64 million. During the same quarter last year, the company earned ($0.62) EPS. As a group, equities analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

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.