SG Americas Securities LLC Decreases Holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

SG Americas Securities LLC lowered its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 34.9% in the 1st quarter, HoldingsChannel reports. The fund owned 8,655 shares of the biopharmaceutical company’s stock after selling 4,638 shares during the period. SG Americas Securities LLC’s holdings in Xenon Pharmaceuticals were worth $290,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in XENE. GF Fund Management CO. LTD. bought a new stake in shares of Xenon Pharmaceuticals in 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. Magnetar Financial LLC purchased a new stake in Xenon Pharmaceuticals during the 4th quarter valued at $210,000. Vident Advisory LLC purchased a new stake in Xenon Pharmaceuticals during the 4th quarter valued at $212,000. Finally, NEOS Investment Management LLC bought a new stake in Xenon Pharmaceuticals in the fourth quarter worth $240,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Xenon Pharmaceuticals Trading Up 1.4%

NASDAQ XENE opened at $32.20 on Friday. The stock has a market cap of $2.47 billion, a PE ratio of -9.97 and a beta of 1.09. Xenon Pharmaceuticals Inc. has a 12 month low of $26.74 and a 12 month high of $46.00. The company’s 50-day moving average price is $32.91 and its 200-day moving average price is $35.76.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings data on Monday, May 12th. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.90) by $0.07. The company had revenue of $7.50 million during the quarter, compared to analysts’ expectations of $1.64 million. During the same period last year, the firm earned ($0.62) earnings per share. As a group, sell-side analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on XENE shares. Royal Bank Of Canada dropped their price objective on shares of Xenon Pharmaceuticals from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. William Blair reaffirmed an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Monday, May 5th. Chardan Capital reiterated a “buy” rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a report on Tuesday, May 13th. Evercore ISI began coverage on shares of Xenon Pharmaceuticals in a research report on Wednesday, May 14th. They issued an “outperform” rating and a $55.00 price objective on the stock. Finally, Wall Street Zen downgraded shares of Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.82.

Xenon Pharmaceuticals Company 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.