Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Stake Lowered by First Light Asset Management LLC

First Light Asset Management LLC decreased its stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,160,580 shares of the biopharmaceutical company's stock after selling 21,082 shares during the quarter. Xenon Pharmaceuticals comprises 4.3% of First Light Asset Management LLC's holdings, making the stock its 8th largest position. First Light Asset Management LLC owned 1.52% of Xenon Pharmaceuticals worth $45,495,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Quarry LP purchased a new position in shares of Xenon Pharmaceuticals during the 4th quarter worth $78,000. Blue Trust Inc. raised 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 worth $95,000 after purchasing an additional 1,414 shares during the period. Avior Wealth Management LLC acquired a new position in Xenon Pharmaceuticals in the 4th quarter valued at about $101,000. KBC Group NV grew its stake in shares of Xenon Pharmaceuticals by 39.8% in the 4th quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company's stock valued at $107,000 after buying an additional 780 shares during the period. Finally, Magnetar Financial LLC acquired a new stake in shares of Xenon Pharmaceuticals during the 4th quarter worth approximately $210,000. Institutional investors and hedge funds own 95.45% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on XENE. Deutsche Bank Aktiengesellschaft initiated coverage on Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They issued a "buy" rating and a $67.00 price objective for the company. The Goldman Sachs Group decreased their target price on shares of Xenon Pharmaceuticals from $60.00 to $52.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. HC Wainwright restated a "buy" rating and issued a $53.00 price objective on shares of Xenon Pharmaceuticals in a report on Monday, February 24th. Royal Bank of Canada reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. Finally, William Blair restated an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $56.78.

Xenon Pharmaceuticals Trading Up 0.5 %

NASDAQ:XENE traded up $0.19 during midday trading on Friday, reaching $38.28. The company had a trading volume of 1,056,382 shares, compared to its average volume of 453,510. Xenon Pharmaceuticals Inc. has a 12-month low of $26.74 and a 12-month high of $46.00. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of -13.57 and a beta of 1.21. The stock's fifty day simple moving average is $34.74 and its 200-day simple moving average is $38.59.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.89) by $0.05. As a group, sell-side analysts expect 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.