Candriam S.C.A. Lowers Holdings in Xenon Pharmaceuticals Inc. $XENE

Candriam S.C.A. trimmed its position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 7.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 454,650 shares of the biopharmaceutical company’s stock after selling 37,531 shares during the period. Candriam S.C.A. owned approximately 0.59% of Xenon Pharmaceuticals worth $15,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new position in shares of Xenon Pharmaceuticals during the 1st quarter valued at approximately $30,000. GF Fund Management CO. LTD. bought a new position in shares of Xenon Pharmaceuticals during the 4th quarter valued at approximately $63,000. Quarry LP bought a new position in shares of Xenon Pharmaceuticals during the 4th quarter valued at approximately $78,000. Vident Advisory LLC bought a new position in shares of Xenon Pharmaceuticals during the 4th quarter valued at approximately $212,000. Finally, Tema Etfs LLC bought a new position in shares of Xenon Pharmaceuticals during the 4th quarter valued at approximately $240,000. 95.45% of the stock is owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Price Performance

Shares of NASDAQ XENE opened at $37.64 on Thursday. The stock has a market capitalization of $2.90 billion, a P/E ratio of -10.60 and a beta of 1.16. Xenon Pharmaceuticals Inc. has a 1-year low of $26.74 and a 1-year high of $46.00. The business has a fifty day moving average price of $32.93 and a 200 day moving average price of $34.01.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings data on Monday, August 11th. The biopharmaceutical company reported ($1.07) earnings per share for the quarter, missing analysts’ consensus estimates 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, equities research analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Wells Fargo & Company cut their price objective on Xenon Pharmaceuticals from $50.00 to $47.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 13th. Chardan Capital reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Xenon Pharmaceuticals in a research note on Tuesday, August 12th. Evercore ISI assumed coverage on shares of Xenon Pharmaceuticals in a research note on Wednesday, May 14th. They issued an “outperform” rating and a $55.00 price objective for the company. Wall Street Zen cut shares of Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. Finally, Wedbush increased their price objective on shares of Xenon Pharmaceuticals from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, August 12th. Eleven equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $53.20.

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.