Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Shares Sold by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. significantly reduced its stake in Xenon Pharmaceuticals by 58.4%, selling 326,000 shares and retaining only 232,500 shares, valued at approximately $7.8 million.
• Several large investors recently acquired positions in Xenon Pharmaceuticals, contributing to a high level of institutional ownership at 95.45%.
• Analysts maintain a generally positive outlook on Xenon Pharmaceuticals, with a consensus rating of "Moderate Buy" and a target price averaging $54.82.

Federated Hermes Inc. decreased its stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 58.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 232,500 shares of the biopharmaceutical company's stock after selling 326,000 shares during the period. Federated Hermes Inc. owned approximately 0.30% of Xenon Pharmaceuticals worth $7,800,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. GF Fund Management CO. LTD. acquired a new position in Xenon Pharmaceuticals during the 4th quarter valued at about $63,000. Quarry LP acquired a new position in Xenon Pharmaceuticals during the 4th quarter valued at about $78,000. Vident Advisory LLC acquired a new position in Xenon Pharmaceuticals during the 4th quarter valued at about $212,000. Tema Etfs LLC acquired a new position in Xenon Pharmaceuticals during the 4th quarter valued at about $240,000. Finally, XTX Topco Ltd acquired a new position in Xenon Pharmaceuticals during the 4th quarter valued at about $316,000. Institutional investors and hedge funds own 95.45% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. HC Wainwright reiterated a "buy" rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, May 13th. Wells Fargo & Company dropped their price target on Xenon Pharmaceuticals from $50.00 to $47.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Royal Bank Of Canada cut their price objective on Xenon Pharmaceuticals from $58.00 to $55.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Needham & Company LLC reduced their price objective on Xenon Pharmaceuticals from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Finally, William Blair reaffirmed an "outperform" rating on shares of Xenon Pharmaceuticals in a research report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $54.82.

Xenon Pharmaceuticals Price Performance

NASDAQ XENE opened at $30.50 on Friday. The company has a 50 day simple moving average of $31.52 and a 200-day simple moving average of $34.31. Xenon Pharmaceuticals Inc. has a 52-week low of $26.74 and a 52-week high of $46.00. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of -9.44 and a beta of 1.16.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The biopharmaceutical company reported ($0.83) EPS for the quarter, beating analysts' consensus estimates of ($0.90) by $0.07. The company had revenue of $7.50 million for the quarter, compared to analysts' expectations of $1.64 million. During the same period in the previous year, the firm posted ($0.62) earnings per share. On average, analysts predict 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.

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