Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Shares Sold by Elmwood Wealth Management Inc.

Elmwood Wealth Management Inc. trimmed its holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 4.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,607 shares of the biopharmaceutical company’s stock after selling 336 shares during the period. Elmwood Wealth Management Inc.’s holdings in Xenon Pharmaceuticals were worth $299,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP raised its position in shares of Xenon Pharmaceuticals by 140.9% during the 4th quarter. Wellington Management Group LLP now owns 4,162,654 shares of the biopharmaceutical company’s stock valued at $191,732,000 after acquiring an additional 2,434,546 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Xenon Pharmaceuticals in the 1st quarter valued at about $17,941,000. Affinity Asset Advisors LLC grew its position in shares of Xenon Pharmaceuticals by 82.0% during the 1st quarter. Affinity Asset Advisors LLC now owns 837,387 shares of the biopharmaceutical company’s stock valued at $36,050,000 after buying an additional 377,387 shares during the last quarter. Logos Global Management LP acquired a new stake in Xenon Pharmaceuticals during the second quarter worth about $14,621,000. Finally, Ikarian Capital LLC lifted its holdings in Xenon Pharmaceuticals by 169.6% in the first quarter. Ikarian Capital LLC now owns 107,187 shares of the biopharmaceutical company’s stock worth $4,614,000 after acquiring an additional 261,276 shares during the last quarter. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Stock Performance

Shares of NASDAQ XENE traded up $0.30 during mid-day trading on Monday, reaching $41.51. 46,677 shares of the company traded hands, compared to its average volume of 387,349. The company’s fifty day moving average is $39.83 and its two-hundred day moving average is $40.14. Xenon Pharmaceuticals Inc. has a fifty-two week low of $27.99 and a fifty-two week high of $50.99. The stock has a market cap of $3.13 billion, a PE ratio of -15.21 and a beta of 1.25.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.05). During the same period in the previous year, the business earned ($0.72) EPS. Research analysts forecast that Xenon Pharmaceuticals Inc. will post -3.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

XENE has been the subject of several analyst reports. William Blair raised shares of Xenon Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. HC Wainwright began coverage on Xenon Pharmaceuticals in a research note on Tuesday, October 1st. They issued a “buy” rating and a $53.00 price target for the company. Royal Bank of Canada reissued an “outperform” rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a research note on Tuesday, September 3rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 price target on shares of Xenon Pharmaceuticals 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 for the company in a report on Monday, August 12th. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $57.45.

About Xenon Pharmaceuticals

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.