Zurcher Kantonalbank Zurich Cantonalbank Sells 14,864 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 47.5% in the second quarter, HoldingsChannel.com reports. The fund owned 16,416 shares of the biopharmaceutical company’s stock after selling 14,864 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Xenon Pharmaceuticals were worth $640,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of XENE. Parallel Advisors LLC raised 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 purchasing an additional 381 shares in the last quarter. PNC Financial Services Group Inc. bought a new position in shares of Xenon Pharmaceuticals in the 4th quarter worth $91,000. 17 Capital Partners LLC purchased a new stake in shares of Xenon Pharmaceuticals during the 1st quarter valued at $122,000. EntryPoint Capital LLC bought a new stake in shares of Xenon Pharmaceuticals during the 1st quarter worth $195,000. Finally, HighMark Wealth Management LLC purchased a new position in Xenon Pharmaceuticals in the first quarter worth $215,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Wall Street Analysts Forecast Growth

XENE has been the topic of a number of research reports. Wedbush lowered their price target on Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Citigroup decreased their price objective on Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Xenon Pharmaceuticals in a research note on Friday, August 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a research report on Tuesday. Finally, Needham & Company LLC lowered their price objective 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. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to MarketBeat.com, Xenon Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $58.78.

Xenon Pharmaceuticals Stock Down 1.7 %

Shares of Xenon Pharmaceuticals stock opened at $39.85 on Friday. The company’s fifty day simple moving average is $40.54 and its two-hundred day simple moving average is $41.33. Xenon Pharmaceuticals Inc. has a 12-month low of $27.99 and a 12-month high of $50.99. The firm has a market cap of $3.01 billion, a PE ratio of -14.70 and a beta of 1.26.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.70) by ($0.05). During the same period in the prior year, the company earned ($0.72) earnings per share. As a group, sell-side analysts expect that Xenon Pharmaceuticals Inc. will post -3.16 earnings per share for the current fiscal 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.