Xenon Pharmaceuticals Inc. $XENE Shares Sold by Algert Global LLC

Key Points

• Algert Global LLC reduced its holdings in Xenon Pharmaceuticals by 48.9%, selling 118,002 shares and retaining 123,415 shares valued at approximately $4.1 million.
• Xenon Pharmaceuticals reported a loss of $1.07 earnings per share for the last quarter, missing analysts' expectations, with a forecast of -3.1 EPS for the current fiscal year.
• Most analysts have a consensus "Buy" rating on Xenon Pharmaceuticals, with an average price target of $53.20.

Algert Global LLC reduced its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 48.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 123,415 shares of the biopharmaceutical company's stock after selling 118,002 shares during the period. Algert Global LLC owned about 0.16% of Xenon Pharmaceuticals worth $4,141,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Braidwell LP grew its stake in Xenon Pharmaceuticals by 7.6% in the 4th quarter. Braidwell LP now owns 2,913,964 shares of the biopharmaceutical company's stock worth $114,227,000 after acquiring an additional 206,709 shares during the period. Janus Henderson Group PLC grew its stake in Xenon Pharmaceuticals by 12.3% in the 4th 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 during the period. Polar Capital Holdings Plc grew its stake in Xenon Pharmaceuticals by 10.3% in the 4th 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 during the period. Westfield Capital Management Co. LP grew its stake in Xenon Pharmaceuticals by 20.2% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,391,370 shares of the biopharmaceutical company's stock worth $46,680,000 after acquiring an additional 234,181 shares during the period. Finally, Orbimed Advisors LLC grew its stake in Xenon Pharmaceuticals by 4.0% in the 4th quarter. Orbimed Advisors LLC now owns 947,877 shares of the biopharmaceutical company's stock worth $37,157,000 after acquiring an additional 36,457 shares during the period. 95.45% of the stock is owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Stock Performance

Shares of NASDAQ:XENE traded down $0.70 during midday trading on Monday, hitting $38.14. 460,034 shares of the company's stock traded hands, compared to its average volume of 1,069,916. The company has a market cap of $2.94 billion, a PE ratio of -10.74 and a beta of 1.16. The firm's fifty day moving average price is $33.28 and its two-hundred day moving average price is $33.90. Xenon Pharmaceuticals Inc. has a twelve month low of $26.74 and a twelve month high of $46.00.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on XENE shares. Wedbush lifted their price target on shares of Xenon Pharmaceuticals from $42.00 to $43.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. Evercore ISI started coverage on shares of Xenon Pharmaceuticals in a report on Wednesday, May 14th. They issued an "outperform" rating and a $55.00 price target on the stock. Wall Street Zen lowered shares of Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. HC Wainwright reiterated a "buy" rating and issued a $53.00 price target on shares of Xenon Pharmaceuticals in a report on Tuesday, May 13th. Finally, Royal Bank Of Canada decreased their price target on shares of Xenon Pharmaceuticals from $57.00 to $55.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Eleven research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $53.20.

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.