Handelsbanken Fonder AB decreased its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE – Get Rating) by 30.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,600 shares of the biopharmaceutical company's stock after selling 4,600 shares during the quarter. Handelsbanken Fonder AB's holdings in Xenon Pharmaceuticals were worth $383,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. Legal & General Group Plc raised its position in shares of Xenon Pharmaceuticals by 4.7% during the second quarter. Legal & General Group Plc now owns 11,273 shares of the biopharmaceutical company's stock worth $343,000 after purchasing an additional 502 shares during the period. Guggenheim Capital LLC raised its position in shares of Xenon Pharmaceuticals by 3.7% during the first quarter. Guggenheim Capital LLC now owns 14,193 shares of the biopharmaceutical company's stock worth $434,000 after purchasing an additional 509 shares during the period. Silverarc Capital Management LLC raised its position in shares of Xenon Pharmaceuticals by 1.1% during the first quarter. Silverarc Capital Management LLC now owns 101,081 shares of the biopharmaceutical company's stock worth $1,428,000 after purchasing an additional 1,081 shares during the period. UBS Group AG raised its position in shares of Xenon Pharmaceuticals by 102.1% during the second quarter. UBS Group AG now owns 2,472 shares of the biopharmaceutical company's stock worth $76,000 after purchasing an additional 1,249 shares during the period. Finally, BNP Paribas Arbitrage SA raised its position in shares of Xenon Pharmaceuticals by 1,567.5% during the first quarter. BNP Paribas Arbitrage SA now owns 1,334 shares of the biopharmaceutical company's stock worth $41,000 after purchasing an additional 1,254 shares during the period. Institutional investors and hedge funds own 92.49% of the company's stock.
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Xenon Pharmaceuticals Trading Down 2.2 %
NASDAQ:XENE opened at $36.29 on Thursday. The stock has a market cap of $2.27 billion, a P/E ratio of -17.79 and a beta of 1.36. The stock has a 50 day simple moving average of $36.73 and a 200 day simple moving average of $36.10. Xenon Pharmaceuticals Inc. has a 1-year low of $24.60 and a 1-year high of $41.39.
Xenon Pharmaceuticals (NASDAQ:XENE – Get Rating) last released its quarterly earnings results on Tuesday, November 8th. The biopharmaceutical company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.52) by ($0.05). The firm had revenue of $0.13 million for the quarter, compared to analyst estimates of $6.40 million. Xenon Pharmaceuticals had a negative return on equity of 17.31% and a negative net
margin of 862.06%. As a group, sell-side analysts forecast that Xenon Pharmaceuticals Inc. will post -2.13 EPS for the current year.
Insider Buying and Selling at Xenon Pharmaceuticals
In other Xenon Pharmaceuticals news, Director Gary Patou sold 2,057 shares of Xenon Pharmaceuticals stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $34.33, for a total value of $70,616.81. Following the completion of the transaction, the director now directly owns 23,573 shares of the company's stock, valued at approximately $809,261.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.06% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the company. StockNews.com assumed coverage on Xenon Pharmaceuticals in a report on Wednesday, October 12th. They set a "sell" rating for the company. Cowen assumed coverage on Xenon Pharmaceuticals in a report on Monday, December 12th. They set an "outperform" rating for the company. Guggenheim decreased their price objective on Xenon Pharmaceuticals from $53.00 to $49.00 and set a "buy" rating for the company in a report on Friday, November 11th. The Goldman Sachs Group started coverage on Xenon Pharmaceuticals in a report on Wednesday, December 14th. They set a "buy" rating and a $60.00 price objective for the company. Finally, Raymond James started coverage on Xenon Pharmaceuticals in a research note on Tuesday, October 18th. They issued an "outperform" rating and a $52.00 price target for the company. One equities research analyst has rated the stock with a sell rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $50.56.
Xenon Pharmaceuticals Company Profile
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Xenon Pharmaceuticals Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN496, A Kv7 potassium channel opener that is Phase III clinical trials for the treatment of KCNQ2 developmental and epilepsy encephalopathy; and XEN1101, A Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.
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