Xenon Pharmaceuticals Inc. $XENE Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC reduced its stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 23.4% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 571,242 shares of the biopharmaceutical company’s stock after selling 174,309 shares during the period. TimesSquare Capital Management LLC owned approximately 0.74% of Xenon Pharmaceuticals worth $17,880,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in XENE. Bank of New York Mellon Corp increased its stake in shares of Xenon Pharmaceuticals by 439.0% in the 1st quarter. Bank of New York Mellon Corp now owns 251,147 shares of the biopharmaceutical company’s stock valued at $8,426,000 after purchasing an additional 204,550 shares in the last quarter. Mutual of America Capital Management LLC purchased a new stake in shares of Xenon Pharmaceuticals in the 1st quarter valued at approximately $1,636,000. New York State Common Retirement Fund increased its position in shares of Xenon Pharmaceuticals by 7.4% during the 1st quarter. New York State Common Retirement Fund now owns 142,372 shares of the biopharmaceutical company’s stock worth $4,777,000 after purchasing an additional 9,851 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Xenon Pharmaceuticals during the first quarter worth $401,000. Finally, Legato Capital Management LLC purchased a new stake in Xenon Pharmaceuticals during the 1st quarter worth approximately $323,000. 95.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Ian Mortimer sold 25,000 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $40.16, for a total value of $1,004,000.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.07% of the stock is currently owned by corporate insiders.

Xenon Pharmaceuticals Stock Down 0.6%

Shares of NASDAQ XENE opened at $39.68 on Thursday. Xenon Pharmaceuticals Inc. has a 52-week low of $26.74 and a 52-week high of $44.60. The firm has a fifty day moving average of $39.41 and a 200-day moving average of $35.50. The stock has a market capitalization of $3.07 billion, a PE ratio of -11.18 and a beta of 1.10.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings results on Monday, November 3rd. The biopharmaceutical company reported ($1.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.16) by $0.01. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.81) earnings per share. Equities research analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on XENE shares. Needham & Company LLC reissued a “buy” rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a research report on Tuesday, November 4th. Wells Fargo & Company restated an “overweight” rating and issued a $44.00 price objective (down from $48.00) on shares of Xenon Pharmaceuticals in a research note on Tuesday, November 4th. Chardan Capital reissued a “buy” rating and issued a $55.00 price objective on shares of Xenon Pharmaceuticals in a research note on Tuesday, October 7th. Wedbush upped their price objective on Xenon Pharmaceuticals from $42.00 to $43.00 and gave the stock an “outperform” rating in a report on Tuesday, August 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Xenon Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $53.70.

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.