Bank of America Corp DE Sells 20,550 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Bank of America Corp DE decreased its holdings in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 16.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 106,906 shares of the biopharmaceutical company's stock after selling 20,550 shares during the period. Bank of America Corp DE owned about 0.14% of Xenon Pharmaceuticals worth $4,191,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in XENE. SG Americas Securities LLC increased its stake in Xenon Pharmaceuticals by 72.3% during the fourth quarter. SG Americas Securities LLC now owns 13,293 shares of the biopharmaceutical company's stock valued at $521,000 after purchasing an additional 5,577 shares during the last quarter. Blue Trust Inc. increased its stake in Xenon Pharmaceuticals by 140.3% during the fourth quarter. Blue Trust Inc. now owns 2,422 shares of the biopharmaceutical company's stock valued at $95,000 after purchasing an additional 1,414 shares during the last quarter. KBC Group NV increased its stake in Xenon Pharmaceuticals by 39.8% during the fourth quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company's stock valued at $107,000 after purchasing an additional 780 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in Xenon Pharmaceuticals by 10.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 16,166 shares of the biopharmaceutical company's stock valued at $634,000 after purchasing an additional 1,594 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in Xenon Pharmaceuticals by 39.0% during the fourth quarter. Jennison Associates LLC now owns 801,553 shares of the biopharmaceutical company's stock valued at $31,421,000 after purchasing an additional 224,892 shares during the last quarter. Institutional investors own 95.45% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on XENE shares. HC Wainwright reissued a "buy" rating and set a $53.00 price target on shares of Xenon Pharmaceuticals in a report on Tuesday, May 13th. Wells Fargo & Company cut their price objective on shares of Xenon Pharmaceuticals from $50.00 to $47.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. The Goldman Sachs Group reduced their price objective on shares of Xenon Pharmaceuticals from $60.00 to $52.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Wall Street Zen downgraded shares of Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Finally, Chardan Capital reaffirmed a "buy" rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $54.82.

Xenon Pharmaceuticals Stock Down 1.1%

Shares of XENE traded down $0.32 during trading hours on Friday, reaching $28.72. The company's stock had a trading volume of 2,455,510 shares, compared to its average volume of 542,510. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of -10.18 and a beta of 1.21. Xenon Pharmaceuticals Inc. has a 1-year low of $26.74 and a 1-year high of $46.00. The company has a 50 day moving average of $33.00 and a two-hundred day moving average of $37.03.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last issued its earnings results on Monday, May 12th. The biopharmaceutical company reported ($0.83) earnings per share for the quarter, beating analysts' consensus estimates of ($0.90) by $0.07. The business had revenue of $7.50 million during the quarter, compared to analyst estimates of $1.64 million. During the same quarter in the prior year, the company earned ($0.62) EPS. As a group, analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 EPS 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.