State of New Jersey Common Pension Fund D Decreases Stock Position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

State of New Jersey Common Pension Fund D cut its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 14.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,573 shares of the biopharmaceutical company’s stock after selling 8,177 shares during the period. State of New Jersey Common Pension Fund D owned 0.06% of Xenon Pharmaceuticals worth $1,894,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Arizona State Retirement System raised its holdings in Xenon Pharmaceuticals by 4.0% in the second quarter. Arizona State Retirement System now owns 17,949 shares of the biopharmaceutical company’s stock valued at $700,000 after acquiring an additional 688 shares in the last quarter. Fiera Capital Corp raised its holdings in shares of Xenon Pharmaceuticals by 1.1% during the second quarter. Fiera Capital Corp now owns 582,879 shares of the biopharmaceutical company’s stock worth $22,726,000 after purchasing an additional 6,337 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Xenon Pharmaceuticals by 1.1% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 421,121 shares of the biopharmaceutical company’s stock worth $16,419,000 after buying an additional 4,385 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Xenon Pharmaceuticals by 28.5% during the 2nd quarter. SG Americas Securities LLC now owns 26,179 shares of the biopharmaceutical company’s stock valued at $1,021,000 after buying an additional 5,813 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in shares of Xenon Pharmaceuticals by 647.8% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 24,116 shares of the biopharmaceutical company’s stock valued at $940,000 after buying an additional 20,891 shares during the last quarter. 95.45% of the stock is owned by institutional investors and hedge funds.

Xenon Pharmaceuticals Trading Down 1.6 %

Shares of NASDAQ:XENE opened at $40.15 on Monday. Xenon Pharmaceuticals Inc. has a 1 year low of $27.99 and a 1 year high of $50.99. The business has a fifty day simple moving average of $40.81 and a 200 day simple moving average of $40.59. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of -14.82 and a beta of 1.25.

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 the consensus estimate of ($0.70) by ($0.05). During the same period last year, the firm posted ($0.72) earnings per share. On average, sell-side analysts forecast that Xenon Pharmaceuticals Inc. will post -3.16 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on XENE shares. Needham & Company LLC cut their price target on Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Wedbush dropped their price target on shares of Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a research report on Tuesday, September 3rd. William Blair raised shares of Xenon Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 target price on shares of Xenon Pharmaceuticals in a research report on Friday, August 9th. One research 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $58.78.

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.