Teacher Retirement System of Texas Reduces Stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Teacher Retirement System of Texas trimmed its stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 8.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,439 shares of the biopharmaceutical company’s stock after selling 1,644 shares during the period. Teacher Retirement System of Texas’ holdings in Xenon Pharmaceuticals were worth $585,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. GF Fund Management CO. LTD. acquired a new stake in shares of Xenon Pharmaceuticals during the fourth quarter worth about $63,000. Quarry LP purchased a new position in Xenon Pharmaceuticals during the fourth quarter worth approximately $78,000. Magnetar Financial LLC acquired a new stake in Xenon Pharmaceuticals during the fourth quarter worth about $210,000. Vident Advisory LLC purchased a new stake in Xenon Pharmaceuticals during the 4th quarter worth $212,000. Finally, NEOS Investment Management LLC purchased a new position in Xenon Pharmaceuticals in the fourth quarter valued at about $240,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Xenon Pharmaceuticals Trading Down 3.4%

Shares of Xenon Pharmaceuticals stock opened at $31.48 on Wednesday. The company has a market capitalization of $2.42 billion, a PE ratio of -9.75 and a beta of 1.10. The stock’s fifty day simple moving average is $31.71 and its 200 day simple moving average is $35.08. Xenon Pharmaceuticals Inc. has a 12 month low of $26.74 and a 12 month high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its earnings results on Monday, May 12th. The biopharmaceutical company reported ($0.83) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.07. The company had revenue of $7.50 million for the quarter, compared to the consensus estimate of $1.64 million. During the same period in the previous year, the firm posted ($0.62) EPS. Analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

XENE has been the subject of several research reports. Needham & Company LLC decreased their price target on shares of Xenon Pharmaceuticals from $60.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, May 13th. The Goldman Sachs Group dropped their target price on Xenon Pharmaceuticals from $60.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Wells Fargo & Company reduced their price objective on shares of Xenon Pharmaceuticals from $50.00 to $47.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. HC Wainwright restated a “buy” rating and issued a $53.00 price objective on shares of Xenon Pharmaceuticals in a research note on Tuesday, May 13th. Finally, Wall Street Zen lowered Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Xenon Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $54.82.

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.