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

Westfield Capital Management Co. LP reduced its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 17.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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’s holdings in Xenon Pharmaceuticals were worth $36,077,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of XENE. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Xenon Pharmaceuticals by 15.7% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,964 shares of the biopharmaceutical company’s stock valued at $93,000 after purchasing an additional 403 shares during the period. Natixis Advisors LLC increased its holdings in Xenon Pharmaceuticals by 1.9% during the 1st quarter. Natixis Advisors LLC now owns 24,010 shares of the biopharmaceutical company’s stock worth $806,000 after purchasing an additional 456 shares during the period. Skandinaviska Enskilda Banken AB publ raised its position in Xenon Pharmaceuticals by 17.5% during the 1st 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. Bank of New York Mellon Corp lifted its holdings in shares of Xenon Pharmaceuticals by 73.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 436,020 shares of the biopharmaceutical company’s stock worth $13,647,000 after buying an additional 184,873 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Xenon Pharmaceuticals by 81.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 436,974 shares of the biopharmaceutical company’s stock worth $13,677,000 after buying an additional 195,768 shares during the period. Institutional investors own 95.45% of the company’s stock.

Insider Activity

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

Xenon Pharmaceuticals Stock Performance

NASDAQ:XENE opened at $40.27 on Friday. The stock has a market capitalization of $3.11 billion, a P/E ratio of -11.34 and a beta of 1.10. The company’s 50-day simple moving average is $39.71 and its 200-day simple moving average is $35.62. Xenon Pharmaceuticals Inc. has a fifty-two week low of $26.74 and a fifty-two week high of $44.23.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted 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. Xenon Pharmaceuticals’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.81) EPS. On average, research analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current year.

Analysts Set New Price Targets

XENE has been the topic of several research reports. Chardan Capital upgraded Xenon Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a report on Tuesday, October 14th. JPMorgan Chase & Co. boosted their price target on shares of Xenon Pharmaceuticals from $57.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $44.00 price target (down previously from $48.00) on shares of Xenon Pharmaceuticals in a research report on Tuesday, November 4th. Finally, Bloom Burton upgraded shares of Xenon Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Xenon Pharmaceuticals currently has an average rating of “Buy” and an average price target of $54.27.

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.