First Light Asset Management LLC Sells 13,912 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

First Light Asset Management LLC cut its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 1.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,306,260 shares of the biopharmaceutical company’s stock after selling 13,912 shares during the quarter. Xenon Pharmaceuticals accounts for about 4.5% of First Light Asset Management LLC’s portfolio, making the stock its 5th largest holding. First Light Asset Management LLC owned about 1.73% of Xenon Pharmaceuticals worth $50,931,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Parallel Advisors LLC boosted its stake in Xenon Pharmaceuticals by 51.2% in the fourth quarter. Parallel Advisors LLC now owns 1,125 shares of the biopharmaceutical company’s stock valued at $52,000 after buying an additional 381 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Xenon Pharmaceuticals by 0.9% in the first quarter. California State Teachers Retirement System now owns 56,477 shares of the biopharmaceutical company’s stock worth $2,431,000 after acquiring an additional 490 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Xenon Pharmaceuticals by 12.0% in the 1st quarter. ProShare Advisors LLC now owns 5,286 shares of the biopharmaceutical company’s stock valued at $228,000 after purchasing an additional 565 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Xenon Pharmaceuticals by 4.0% in the 2nd quarter. Arizona State Retirement System now owns 17,949 shares of the biopharmaceutical company’s stock valued at $700,000 after purchasing an additional 688 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Xenon Pharmaceuticals by 1.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 48,946 shares of the biopharmaceutical company’s stock valued at $1,908,000 after purchasing an additional 769 shares during the last quarter. Institutional investors own 95.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on XENE shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 target price on shares of Xenon Pharmaceuticals in a research note on Friday, August 9th. Royal Bank of Canada reissued an “outperform” rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, September 3rd. William Blair raised Xenon Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Wedbush dropped their price objective on shares of Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Finally, Needham & Company LLC reduced their target price on shares of Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $58.78.

Xenon Pharmaceuticals Stock Down 1.2 %

XENE stock opened at $39.65 on Tuesday. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of -14.63 and a beta of 1.25. The company’s fifty day simple moving average is $40.76 and its 200 day simple moving average is $40.54. Xenon Pharmaceuticals Inc. has a 12-month low of $27.99 and a 12-month high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.05). During the same quarter in the prior year, the business earned ($0.72) earnings per share. Research analysts expect that Xenon Pharmaceuticals Inc. will post -3.16 earnings per share for the current year.

Xenon Pharmaceuticals Profile

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 epileptic encephalopathy; and XEN1101, a Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.