Parkman Healthcare Partners LLC Sells 18,428 Shares of Xenon Pharmaceuticals Inc. $XENE

Key Points

• Parkman Healthcare Partners LLC has reduced its stake in Xenon Pharmaceuticals Inc. by 9.5%, now owning approximately 174,576 shares valued at $5.86 million as of the latest SEC filing.
• Several hedge funds have increased their holdings in Xenon, with Bank of New York Mellon Corp making a significant increase of 439.0% to own 251,147 shares.
• Xenon Pharmaceuticals reported a loss of $1.07 EPS for the latest quarter, missing analyst expectations, and it has a current consensus target price of $53.30 from analysts.

Parkman Healthcare Partners LLC cut its holdings in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 9.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 174,576 shares of the biopharmaceutical company's stock after selling 18,428 shares during the period. Parkman Healthcare Partners LLC owned approximately 0.23% of Xenon Pharmaceuticals worth $5,857,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd bought a new stake in Xenon Pharmaceuticals during the 1st quarter worth approximately $30,000. GF Fund Management CO. LTD. purchased a new position in shares of Xenon Pharmaceuticals during the fourth quarter valued at approximately $63,000. Vident Advisory LLC bought a new stake in Xenon Pharmaceuticals during the fourth quarter worth $212,000. Tema Etfs LLC purchased a new stake in Xenon Pharmaceuticals in the 4th quarter valued at $240,000. Finally, EntryPoint Capital LLC bought a new position in Xenon Pharmaceuticals during the 1st quarter valued at $298,000. Institutional investors own 95.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Evercore ISI assumed coverage on shares of Xenon Pharmaceuticals in a research note on Wednesday, May 14th. They issued an "outperform" rating and a $55.00 target price for the company. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $55.00 price objective on shares of Xenon Pharmaceuticals in a research report on Tuesday, September 2nd. Wells Fargo & Company started coverage on shares of Xenon Pharmaceuticals in a research note on Wednesday, September 3rd. They issued an "overweight" rating and a $48.00 price objective for the company. Chardan Capital restated a "buy" rating and issued a $55.00 target price on shares of Xenon Pharmaceuticals in a research note on Tuesday, August 12th. Finally, Wall Street Zen lowered Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Eleven equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Xenon Pharmaceuticals has a consensus rating of "Buy" and a consensus price target of $53.30.

Xenon Pharmaceuticals Price Performance

Shares of NASDAQ XENE traded up $0.11 during trading on Thursday, reaching $37.22. 491,245 shares of the stock traded hands, compared to its average volume of 875,365. The stock has a market capitalization of $2.87 billion, a P/E ratio of -10.48 and a beta of 1.17. Xenon Pharmaceuticals Inc. has a 52-week low of $26.74 and a 52-week high of $46.00. The company has a 50-day moving average of $34.84 and a 200-day moving average of $33.92.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The biopharmaceutical company reported ($1.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.03) by ($0.04). During the same quarter last year, the company posted ($0.75) earnings per share. Analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share 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.