Xenon Pharmaceuticals Inc. $XENE Shares Sold by Parkman Healthcare Partners LLC

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

Other large investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new position in Xenon Pharmaceuticals during the first quarter worth $30,000. GF Fund Management CO. LTD. bought a new position in Xenon Pharmaceuticals during the fourth quarter worth $63,000. Vident Advisory LLC bought a new position in Xenon Pharmaceuticals during the fourth quarter worth $212,000. Tema Etfs LLC bought a new position in Xenon Pharmaceuticals during the fourth quarter worth $240,000. Finally, EntryPoint Capital LLC bought a new position in Xenon Pharmaceuticals during the first quarter worth $298,000. 95.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Evercore ISI assumed coverage on Xenon Pharmaceuticals in a research note on Wednesday, May 14th. They set an "outperform" rating and a $55.00 price objective on the stock. Wells Fargo & Company assumed coverage on Xenon Pharmaceuticals in a research report on Wednesday, September 3rd. They set an "overweight" rating and a $48.00 price target on the stock. Wedbush increased their price target on Xenon Pharmaceuticals from $42.00 to $43.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. Chardan Capital reiterated a "buy" rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a research report on Tuesday, August 12th. Finally, Needham & Company LLC dropped their price target on Xenon Pharmaceuticals from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Eleven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Xenon Pharmaceuticals currently has an average rating of "Buy" and a consensus target price of $53.30.

Xenon Pharmaceuticals Price Performance

XENE stock traded down $0.68 on Tuesday, reaching $37.51. The company's stock had a trading volume of 666,611 shares, compared to its average volume of 772,825. Xenon Pharmaceuticals Inc. has a 52 week low of $26.74 and a 52 week high of $46.00. The company has a market capitalization of $2.89 billion, a P/E ratio of -10.57 and a beta of 1.17. The firm has a fifty day moving average of $34.77 and a two-hundred day moving average of $33.90.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its earnings results 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 in the previous year, the company posted ($0.75) EPS. As a group, equities analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current fiscal year.

Xenon Pharmaceuticals 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.