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 trimmed its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 48.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 123,415 shares of the biopharmaceutical company's stock after selling 118,002 shares during the quarter. Algert Global LLC owned approximately 0.16% of Xenon Pharmaceuticals worth $4,141,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Northern Trust Corp raised its holdings in shares of Xenon Pharmaceuticals by 51.6% in the 4th quarter. Northern Trust Corp now owns 65,783 shares of the biopharmaceutical company's stock valued at $2,579,000 after purchasing an additional 22,377 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Xenon Pharmaceuticals by 39.1% during the 4th quarter. Ameriprise Financial Inc. now owns 92,350 shares of the biopharmaceutical company's stock worth $3,620,000 after buying an additional 25,967 shares during the last quarter. Mutual of America Capital Management LLC purchased a new stake in shares of Xenon Pharmaceuticals during the 1st quarter worth approximately $1,636,000. Natixis Advisors LLC lifted its position in shares of Xenon Pharmaceuticals by 1.9% during the 1st quarter. Natixis Advisors LLC now owns 24,010 shares of the biopharmaceutical company's stock worth $806,000 after buying an additional 456 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Xenon Pharmaceuticals by 439.0% during the 1st quarter. Bank of New York Mellon Corp now owns 251,147 shares of the biopharmaceutical company's stock worth $8,426,000 after buying an additional 204,550 shares during the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on XENE. William Blair restated an "outperform" rating on shares of Xenon Pharmaceuticals in a research report on Monday, May 5th. Needham & Company LLC decreased their price objective on Xenon Pharmaceuticals from $60.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Wells Fargo & Company decreased their price objective on Xenon Pharmaceuticals from $50.00 to $47.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. HC Wainwright reissued a "buy" rating and issued a $53.00 price objective on shares of Xenon Pharmaceuticals in a report on Tuesday, May 13th. Finally, Chardan Capital reiterated a "buy" rating and issued a $55.00 target price on shares of Xenon Pharmaceuticals in a research note on Tuesday, August 12th. Eleven research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $53.20.

Xenon Pharmaceuticals Stock Performance

NASDAQ:XENE traded up $0.66 during trading hours on Friday, hitting $38.84. The company's stock had a trading volume of 1,186,173 shares, compared to its average volume of 1,059,102. The business's 50-day moving average is $33.16 and its two-hundred day moving average is $33.99. The company has a market capitalization of $2.99 billion, a PE ratio of -10.94 and a beta of 1.16. Xenon Pharmaceuticals Inc. has a 52-week low of $26.74 and a 52-week high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last released its quarterly earnings data 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 period in the previous year, the firm posted ($0.75) earnings per share. As a group, analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current fiscal year.

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.