First Light Asset Management LLC Has $45.50 Million Stock Position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

First Light Asset Management LLC reduced its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 1.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,160,580 shares of the biopharmaceutical company’s stock after selling 21,082 shares during the quarter. Xenon Pharmaceuticals makes up 4.3% of First Light Asset Management LLC’s investment portfolio, making the stock its 8th largest holding. First Light Asset Management LLC’s holdings in Xenon Pharmaceuticals were worth $45,495,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Barclays PLC grew its stake in Xenon Pharmaceuticals by 1,275.5% in the 3rd quarter. Barclays PLC now owns 14,993 shares of the biopharmaceutical company’s stock valued at $590,000 after buying an additional 13,903 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Xenon Pharmaceuticals by 1,263.2% in the third quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company’s stock valued at $38,456,000 after purchasing an additional 905,129 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Xenon Pharmaceuticals by 3.7% in the fourth quarter. Harbor Capital Advisors Inc. now owns 49,818 shares of the biopharmaceutical company’s stock worth $1,953,000 after purchasing an additional 1,755 shares during the period. Elmwood Wealth Management Inc. lifted its position in shares of Xenon Pharmaceuticals by 44.7% during the 4th quarter. Elmwood Wealth Management Inc. now owns 11,007 shares of the biopharmaceutical company’s stock worth $431,000 after purchasing an additional 3,400 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Xenon Pharmaceuticals by 12.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 238,522 shares of the biopharmaceutical company’s stock valued at $9,350,000 after buying an additional 26,235 shares during the last quarter. Institutional investors own 95.45% of the company’s stock.

Xenon Pharmaceuticals Price Performance

Shares of XENE stock opened at $37.62 on Monday. The stock’s fifty day simple moving average is $34.80 and its 200 day simple moving average is $38.66. Xenon Pharmaceuticals Inc. has a one year low of $26.74 and a one year high of $46.00. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of -13.34 and a beta of 1.21.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) EPS for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.05. On average, research analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. The Goldman Sachs Group cut their price target on Xenon Pharmaceuticals from $60.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, April 17th. William Blair restated an “outperform” rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. HC Wainwright reaffirmed a “buy” rating and set a $53.00 price objective on shares of Xenon Pharmaceuticals in a research report on Monday, February 24th. Royal Bank of Canada reissued an “outperform” rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft began 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. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $56.78.

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.