First Turn Management LLC Sells 14,658 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

First Turn Management LLC trimmed its position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 4.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 325,218 shares of the biopharmaceutical company’s stock after selling 14,658 shares during the quarter. First Turn Management LLC owned 0.43% of Xenon Pharmaceuticals worth $12,804,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in XENE. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Xenon Pharmaceuticals by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company’s stock worth $106,000 after acquiring an additional 487 shares during the period. California State Teachers Retirement System increased its stake in shares of Xenon Pharmaceuticals by 0.9% during the 1st quarter. California State Teachers Retirement System now owns 56,477 shares of the biopharmaceutical company’s stock worth $2,431,000 after purchasing an additional 490 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Xenon Pharmaceuticals by 12.0% during the 1st quarter. ProShare Advisors LLC now owns 5,286 shares of the biopharmaceutical company’s stock worth $228,000 after purchasing an additional 565 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Xenon Pharmaceuticals by 174.7% during the 3rd quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 641 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Xenon Pharmaceuticals by 4.0% during the 2nd quarter. Arizona State Retirement System now owns 17,949 shares of the biopharmaceutical company’s stock worth $700,000 after purchasing an additional 688 shares during the last quarter. 95.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on XENE shares. HC Wainwright reaffirmed a “buy” rating and set a $53.00 target price on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th. Wedbush reduced their target price on shares of Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 target price on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th. Raymond James reaffirmed an “outperform” rating and set a $50.00 target price on shares of Xenon Pharmaceuticals in a report on Thursday, October 10th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 target price on shares of Xenon Pharmaceuticals in a report on Friday, August 9th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $57.45.

Xenon Pharmaceuticals Stock Performance

Shares of NASDAQ:XENE opened at $38.31 on Tuesday. The firm has a 50 day moving average of $41.21 and a 200-day moving average of $40.32. Xenon Pharmaceuticals Inc. has a 12 month low of $28.20 and a 12 month high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) EPS for the quarter, beating the consensus estimate of ($0.82) by $0.01. During the same quarter last year, the firm earned ($0.73) earnings per share. As a group, equities research analysts predict that Xenon Pharmaceuticals Inc. will post -3.13 earnings per share for the current fiscal year.

Xenon Pharmaceuticals Company 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.