5 Stocks to Buy According to Neil Shahrestani’s Ikarian Capital

In this article, we will discuss the 10 stocks to buy according to Neil Shahrestani’s Ikarian Capital. If you want to read our detailed analysis of Shahrestani’s history, investment philosophy, and hedge fund performance, go directly to the 10 Stocks to Buy According to Neil Shahrestani’s Ikarian Capital.

5. Xenon Pharmaceuticals Inc. (NASDAQ: XENE)

Shahrestani’s Stake Value: $11,467,000
Percentage of Neil Shahrestani’s 13F Portfolio: 0.38%
Number of Hedge Fund Holders: 27

Xenon Pharmaceuticals Inc. (NASDAQ: XENE) is a Canada-based clinical-stage biopharmaceutical company occupied in developing therapeutics to cure patients with neurological disease. It was founded in 1996 and ranks fifth on the list of 10 best stocks to buy according to Neil Shahrestani’s Ikarian Capital. Xenon shares have gained 53.30% over the last 12 months.

On May 11, Xenon Pharmaceuticals Inc. (NASDAQ: XENE) declared earnings for the first quarter of 2021. It reported earnings per share of -$0.42, beating market predictions by $0.01. In addition, the revenue for the first three months of 2021 was over $4.36 million, beating the estimates by $1.39 million. On May 6, SMBC Nikko Securities analyst David Hoang initiates coverage on Xenon Pharmaceuticals with an “Outperform” rating.

Ikarian Capital increased its stake in Xenon Pharmaceuticals Inc. (NASDAQ: XENE) by 188% in the first quarter of 2021, ending the period with $11.47 million worth of the company’s stock. In addition, hedge funds are loading up on Xenon Pharmaceuticals, as Insider Monkey’s data shows that 27 hedge funds held stakes in the company in the first quarter of 2021, compared to 25 funds a quarter earlier.