Xenon Pharmaceuticals Inc. $XENE is Braidwell LP's 10th Largest Position

Key Points

• Braidwell LP reduced its holdings in Xenon Pharmaceuticals Inc. by 7.0%, now owning approximately 2.7 million shares valued at $90.9 million.
• The company recently reported a quarterly EPS of ($1.07), missing analysts' expectations of ($1.03) and down from ($0.75) the previous year.
• Despite some analysts lowering their price targets, the majority still maintain a Buy rating for Xenon Pharmaceuticals, with a consensus target price of $53.20.

Braidwell LP lowered its position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 7.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,709,875 shares of the biopharmaceutical company's stock after selling 204,089 shares during the quarter. Xenon Pharmaceuticals makes up approximately 3.2% of Braidwell LP's holdings, making the stock its 10th biggest holding. Braidwell LP owned approximately 3.54% of Xenon Pharmaceuticals worth $90,916,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in XENE. Raymond James Financial Inc. bought a new position in Xenon Pharmaceuticals during the 4th quarter worth approximately $797,000. Barclays PLC increased its holdings in Xenon Pharmaceuticals by 20.9% during the fourth quarter. Barclays PLC now owns 18,127 shares of the biopharmaceutical company's stock worth $711,000 after buying an additional 3,134 shares during the last quarter. Voya Investment Management LLC raised its position in shares of Xenon Pharmaceuticals by 32.3% in the fourth quarter. Voya Investment Management LLC now owns 62,415 shares of the biopharmaceutical company's stock valued at $2,447,000 after purchasing an additional 15,250 shares during the period. Aquatic Capital Management LLC bought a new position in shares of Xenon Pharmaceuticals in the fourth quarter valued at about $324,000. Finally, Northern Trust Corp increased its position in Xenon Pharmaceuticals by 51.6% during the fourth quarter. Northern Trust Corp now owns 65,783 shares of the biopharmaceutical company's stock worth $2,579,000 after acquiring an additional 22,377 shares during the period. Institutional investors and hedge funds own 95.45% of the company's stock.

Wall Street Analysts Forecast Growth

XENE has been the topic of a number of research analyst reports. Chardan Capital restated a "buy" rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, August 12th. Royal Bank Of Canada restated an "outperform" rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a research note on Tuesday. Wall Street Zen downgraded 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 target price on shares of Xenon Pharmaceuticals in a research note on Tuesday, May 13th. Finally, Needham & Company LLC reduced their target price on shares of Xenon Pharmaceuticals from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Eleven investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $53.30.

Xenon Pharmaceuticals Price Performance

Xenon Pharmaceuticals stock traded down $0.47 during mid-day trading on Wednesday, reaching $38.83. 750,219 shares of the company traded hands, compared to its average volume of 883,696. The firm's 50 day moving average price is $34.26 and its 200 day moving average price is $33.96. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of -10.94 and a beta of 1.17. 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 announced its earnings results on Monday, August 11th. The biopharmaceutical company reported ($1.07) EPS for the quarter, missing analysts' consensus estimates of ($1.03) by ($0.04). During the same quarter in the previous year, the company posted ($0.75) EPS. On average, sell-side analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current year.

About Xenon Pharmaceuticals

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.