Siren L.L.C. Sells 11,008 Shares of Xenon Pharmaceuticals Inc. $XENE

Key Points

• Siren L.L.C. has reduced its stake in Xenon Pharmaceuticals Inc. by 1.5%, selling 11,008 shares and now owning 732,761 shares worth approximately $24.58 million.
• Xenon Pharmaceuticals reported a quarterly earnings loss of ($1.07) EPS, which was below analysts' consensus estimate of ($1.03).
• Despite recent losses, several analysts maintain a buy rating for Xenon Pharmaceuticals with a consensus price target of $53.20.

Siren L.L.C. lowered its holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 1.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 732,761 shares of the biopharmaceutical company's stock after selling 11,008 shares during the period. Xenon Pharmaceuticals accounts for 1.4% of Siren L.L.C.'s investment portfolio, making the stock its 21st biggest position. Siren L.L.C. owned about 0.95% of Xenon Pharmaceuticals worth $24,584,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Boxer Capital Management LLC acquired a new stake in shares of Xenon Pharmaceuticals in the fourth quarter worth $23,520,000. Stempoint Capital LP acquired a new stake in shares of Xenon Pharmaceuticals in the fourth quarter worth $14,733,000. Janus Henderson Group PLC increased its position in shares of Xenon Pharmaceuticals by 12.3% in the fourth quarter. Janus Henderson Group PLC now owns 2,866,755 shares of the biopharmaceutical company's stock worth $112,425,000 after acquiring an additional 314,363 shares in the last quarter. Polar Capital Holdings Plc increased its position in shares of Xenon Pharmaceuticals by 10.3% in the fourth quarter. Polar Capital Holdings Plc now owns 2,697,657 shares of the biopharmaceutical company's stock worth $105,748,000 after acquiring an additional 253,012 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its stake in shares of Xenon Pharmaceuticals by 20.2% in the first quarter. Westfield Capital Management Co. LP now owns 1,391,370 shares of the biopharmaceutical company's stock valued at $46,680,000 after buying an additional 234,181 shares in the last quarter. Institutional investors and hedge funds own 95.45% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on XENE shares. HC Wainwright reiterated a "buy" rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a research note on Tuesday, May 13th. Wedbush boosted their target price on shares of Xenon Pharmaceuticals from $42.00 to $43.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. Evercore ISI assumed coverage on shares of Xenon Pharmaceuticals in a research report on Wednesday, May 14th. They set an "outperform" rating and a $55.00 target price on the stock. Needham & Company LLC reduced their target price on shares of Xenon Pharmaceuticals from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Finally, Chardan Capital reissued a "buy" rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday, August 12th. Eleven analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $53.30.

Xenon Pharmaceuticals Price Performance

Shares of XENE stock traded down $0.47 on Wednesday, hitting $38.83. 217,951 shares of the stock traded hands, compared to its average volume of 880,242. The company has a market capitalization of $2.99 billion, a PE ratio of -10.94 and a beta of 1.17. Xenon Pharmaceuticals Inc. has a 1-year low of $26.74 and a 1-year high of $46.00. The company's fifty day moving average is $34.11 and its 200 day moving average is $33.93.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The biopharmaceutical company reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.03) by ($0.04). During the same quarter last year, the business earned ($0.75) earnings per share. As a group, equities research analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current 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.