Parkman Healthcare Partners LLC Sells 17,632 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Parkman Healthcare Partners LLC trimmed its position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 8.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 191,658 shares of the biopharmaceutical company’s stock after selling 17,632 shares during the period. Parkman Healthcare Partners LLC’s holdings in Xenon Pharmaceuticals were worth $7,546,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. raised its stake in shares of Xenon Pharmaceuticals by 174.7% during the third quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 641 shares in the last quarter. nVerses Capital LLC bought a new stake in Xenon Pharmaceuticals during the 3rd quarter valued at $102,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Xenon Pharmaceuticals by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company’s stock worth $106,000 after buying an additional 487 shares during the period. Quarry LP increased its stake in shares of Xenon Pharmaceuticals by 207.7% during the second quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock valued at $156,000 after buying an additional 2,700 shares during the period. Finally, XTX Topco Ltd bought a new stake in shares of Xenon Pharmaceuticals in the second quarter valued at about $464,000. 95.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Raymond James restated an “outperform” rating and issued a $50.00 price target on shares of Xenon Pharmaceuticals in a report on Thursday, October 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Xenon Pharmaceuticals in a research report on Friday, August 9th. HC Wainwright reissued a “buy” rating and set a $53.00 price target on shares of Xenon Pharmaceuticals in a research report on Wednesday, November 13th. Finally, Wedbush reduced their price objective on shares of Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $57.45.

Insider Activity

In other Xenon Pharmaceuticals news, Director Gary Patou sold 4,891 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $41.08, for a total transaction of $200,922.28. Following the completion of the sale, the director now directly owns 23,573 shares in the company, valued at approximately $968,378.84. The trade was a 17.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.52% of the company’s stock.

Xenon Pharmaceuticals Stock Performance

Shares of XENE opened at $42.00 on Wednesday. The business’s 50-day moving average is $41.58 and its two-hundred day moving average is $40.28. The company has a market capitalization of $3.20 billion, a P/E ratio of -14.89 and a beta of 1.19. Xenon Pharmaceuticals Inc. has a fifty-two week low of $35.53 and a fifty-two week high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.01. During the same quarter in the previous year, the firm posted ($0.73) earnings per share. Analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current year.

About Xenon Pharmaceuticals

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.