Zacks Investment Research upgraded shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) from a sell rating to a hold rating in a research note issued to investors on Thursday.
According to Zacks, “Xenon Pharmaceuticals Inc. is a clinical-stage biopharmaceutical company. It is focused on the development of medicines through the application of its proprietary discovery platform, which it refer to as Extreme Genetics. Xenon is developing proprietary product candidates for the treatment of both orphan as well as more prevalent diseases. The company offers Glybera (R), a gene therapy for the treatment of lipoprotein lipase deficiency, an orphan disorder. Xenon Pharmaceuticals Inc. is headquartered in Burnaby, Canada. “
A number of other analysts have also recently issued reports on XENE. Jefferies Group LLC reissued a buy rating and set a $8.00 target price on shares of Xenon Pharmaceuticals in a research note on Monday, June 12th. Canaccord Genuity reissued a buy rating and set a $5.00 target price on shares of Xenon Pharmaceuticals in a research note on Tuesday, June 27th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Xenon Pharmaceuticals currently has an average rating of Buy and a consensus price target of $10.63.
Xenon Pharmaceuticals (NASDAQ:XENE) traded up 1.69% on Thursday, hitting $3.00. 51,045 shares of the stock traded hands. The company’s 50 day moving average price is $3.04 and its 200-day moving average price is $3.64. Xenon Pharmaceuticals has a 12-month low of $2.25 and a 12-month high of $9.95. The stock’s market capitalization is $53.99 million.
Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.03). The company had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.38 million. Xenon Pharmaceuticals had a negative net margin of 3,489.63% and a negative return on equity of 47.53%. Analysts predict that Xenon Pharmaceuticals will post ($0.97) EPS for the current year.
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In other Xenon Pharmaceuticals news, Director Mohammad Azab bought 10,000 shares of the stock in a transaction that occurred on Friday, September 22nd. The stock was acquired at an average cost of $2.95 per share, with a total value of $29,500.00. Following the purchase, the director now owns 21,210 shares in the company, valued at $62,569.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Value Fund L. P. Biotechnology bought 60,202 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were acquired at an average cost of $2.61 per share, with a total value of $157,127.22. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 210,739 shares of company stock valued at $568,975. 9.40% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. DAFNA Capital Management LLC increased its stake in Xenon Pharmaceuticals by 11.2% during the 2nd quarter. DAFNA Capital Management LLC now owns 377,695 shares of the biopharmaceutical company’s stock worth $1,190,000 after purchasing an additional 38,081 shares in the last quarter. Endurant Capital Management LP bought a new stake in Xenon Pharmaceuticals during the 1st quarter worth approximately $1,363,000. Sabby Management LLC bought a new stake in Xenon Pharmaceuticals during the 1st quarter worth approximately $1,186,000. Renaissance Technologies LLC increased its stake in Xenon Pharmaceuticals by 90.1% during the 1st quarter. Renaissance Technologies LLC now owns 217,090 shares of the biopharmaceutical company’s stock worth $868,000 after purchasing an additional 102,890 shares in the last quarter. Finally, K2 Principal Fund L.P. increased its stake in Xenon Pharmaceuticals by 40.6% during the 2nd quarter. K2 Principal Fund L.P. now owns 164,510 shares of the biopharmaceutical company’s stock worth $518,000 after purchasing an additional 47,535 shares in the last quarter. 55.30% of the stock is owned by institutional investors and hedge funds.
About Xenon Pharmaceuticals
Xenon Pharmaceuticals Inc is a Canada-based clinical-stage biopharmaceutical company. It is engaged in discovering and developing a pipeline of differentiated therapeutics for orphan indications. Its product pipeline includes: Glybera, TV-45070, GDC-0310, XEN901 (Nav1.6 inhibitor) and XEN1101. Glybera is used for the treatment of lipoprotein lipase deficiency (LPLD).
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