Xenon Pharmaceuticals Inc. $XENE Shares Sold by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. lowered its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 44.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 796,986 shares of the biopharmaceutical company’s stock after selling 640,845 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 1.04% of Xenon Pharmaceuticals worth $26,739,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in XENE. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Xenon Pharmaceuticals in the first quarter valued at approximately $30,000. GF Fund Management CO. LTD. bought a new stake in Xenon Pharmaceuticals during the fourth quarter worth approximately $63,000. Quarry LP bought a new stake in Xenon Pharmaceuticals during the fourth quarter worth approximately $78,000. Vident Advisory LLC bought a new stake in Xenon Pharmaceuticals during the fourth quarter worth approximately $212,000. Finally, Tema Etfs LLC bought a new stake in Xenon Pharmaceuticals during the fourth quarter worth approximately $240,000. Institutional investors and hedge funds own 95.45% of the company’s stock.

Xenon Pharmaceuticals Stock Performance

Xenon Pharmaceuticals stock opened at $38.84 on Friday. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of -10.94 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 firm’s 50 day moving average price is $33.16 and its two-hundred day moving average price is $33.95.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings results on Monday, August 11th. The biopharmaceutical company reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.03) by ($0.04). During the same period in the previous year, the business posted ($0.75) EPS. As a group, equities analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. William Blair reissued an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Monday, May 5th. Needham & Company LLC dropped their target price on Xenon Pharmaceuticals from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. HC Wainwright reissued a “buy” rating and set a $53.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, May 13th. Evercore ISI assumed coverage on Xenon Pharmaceuticals in a report on Wednesday, May 14th. They set an “outperform” rating and a $55.00 target price on the stock. Finally, Wedbush boosted their target price on Xenon Pharmaceuticals from $42.00 to $43.00 and gave the stock an “outperform” rating in a report on Tuesday, August 12th. Eleven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average 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.