Westfield Capital Management Co. LP Cuts Holdings in Xenon Pharmaceuticals Inc. $XENE

Westfield Capital Management Co. LP reduced its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 17.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,152,605 shares of the biopharmaceutical company’s stock after selling 238,765 shares during the period. Westfield Capital Management Co. LP owned 1.50% of Xenon Pharmaceuticals worth $36,077,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in Xenon Pharmaceuticals by 15.7% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,964 shares of the biopharmaceutical company’s stock worth $93,000 after acquiring an additional 403 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of Xenon Pharmaceuticals by 1.9% in the first quarter. Natixis Advisors LLC now owns 24,010 shares of the biopharmaceutical company’s stock valued at $806,000 after purchasing an additional 456 shares in the last quarter. Bank of New York Mellon Corp increased its position in Xenon Pharmaceuticals by 73.6% in the second quarter. Bank of New York Mellon Corp now owns 436,020 shares of the biopharmaceutical company’s stock worth $13,647,000 after purchasing an additional 184,873 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in Xenon Pharmaceuticals by 17.5% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 47,457 shares of the biopharmaceutical company’s stock valued at $1,592,000 after purchasing an additional 7,081 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Xenon Pharmaceuticals by 81.2% during the second quarter. Assenagon Asset Management S.A. now owns 436,974 shares of the biopharmaceutical company’s stock valued at $13,677,000 after purchasing an additional 195,768 shares during the last quarter. 95.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on XENE. Wells Fargo & Company restated an “overweight” rating and issued a $44.00 target price (down from $48.00) on shares of Xenon Pharmaceuticals in a report on Tuesday, November 4th. Wedbush lifted their price target on Xenon Pharmaceuticals from $42.00 to $43.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 12th. Chardan Capital upgraded Xenon Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday. Royal Bank Of Canada raised their price objective on Xenon Pharmaceuticals from $55.00 to $58.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Finally, JPMorgan Chase & Co. lifted their target price on Xenon Pharmaceuticals from $57.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $54.27.

Insider Buying and Selling

In other Xenon Pharmaceuticals news, CEO Ian Mortimer sold 25,000 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $40.16, for a total value of $1,004,000.00. Following the transaction, the chief executive officer owned 31,302 shares of the company’s stock, valued at $1,257,088.32. This represents a 44.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.07% of the stock is owned by company insiders.

Xenon Pharmaceuticals Price Performance

Shares of NASDAQ XENE opened at $40.27 on Friday. Xenon Pharmaceuticals Inc. has a 1 year low of $26.74 and a 1 year high of $44.23. The firm has a 50-day simple moving average of $39.71 and a two-hundred day simple moving average of $35.62. The company has a market cap of $3.11 billion, a P/E ratio of -11.34 and a beta of 1.10.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its earnings results on Monday, November 3rd. The biopharmaceutical company reported ($1.15) EPS for the quarter, beating analysts’ consensus estimates of ($1.16) by $0.01. During the same period in the prior year, the firm posted ($0.81) EPS. The firm’s quarterly revenue was up .0% on a year-over-year basis. As a group, equities research analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current year.

Xenon Pharmaceuticals 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.