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. trimmed its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 1.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 732,761 shares of the biopharmaceutical company's stock after selling 11,008 shares during the quarter. Xenon Pharmaceuticals comprises approximately 1.4% of Siren L.L.C.'s holdings, making the stock its 21st largest position. Siren L.L.C. owned 0.95% of Xenon Pharmaceuticals worth $24,584,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Xenon Pharmaceuticals in the first quarter worth $30,000. GF Fund Management CO. LTD. acquired a new stake in shares of Xenon Pharmaceuticals in the fourth quarter worth $63,000. Quarry LP acquired a new stake in shares of Xenon Pharmaceuticals in the fourth quarter worth $78,000. Vident Advisory LLC acquired a new stake in shares of Xenon Pharmaceuticals in the fourth quarter worth $212,000. Finally, Tema Etfs LLC acquired a new stake in shares of Xenon Pharmaceuticals in the fourth quarter worth $240,000. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. HC Wainwright restated a "buy" rating and issued a $53.00 price objective 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 dropped 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, William Blair reaffirmed an "outperform" rating on shares of Xenon Pharmaceuticals in a research report on Monday, May 5th. Eleven research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $53.20.

Xenon Pharmaceuticals Stock Up 0.3%

Xenon Pharmaceuticals stock traded up $0.11 on Friday, hitting $38.71. The company's stock had a trading volume of 677,575 shares, compared to its average volume of 977,838. The firm has a market cap of $2.98 billion, a P/E ratio of -10.90 and a beta of 1.17. The company has a fifty day moving average price of $33.83 and a 200-day moving average price of $33.89. Xenon Pharmaceuticals Inc. has a one year low of $26.74 and a one year high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced 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 in the previous year, the company earned ($0.75) EPS. Analysts anticipate 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.