Xenon Pharmaceuticals Inc. (XENE) Upgraded to Hold by Zacks Investment Research
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. “
Several other brokerages also recently issued reports on XENE. Guggenheim assumed coverage on shares of Xenon Pharmaceuticals in a report on Monday, September 26th. They set a buy rating and a $20.00 price target for the company. Canaccord Genuity reiterated a buy rating and set a $16.00 price target on shares of Xenon Pharmaceuticals in a report on Friday, August 5th.
Xenon Pharmaceuticals (NASDAQ:XENE) traded up 0.36% on Thursday, reaching $8.28. The company’s stock had a trading volume of 102,526 shares. The stock’s 50 day moving average price is $7.96 and its 200 day moving average price is $7.28. The company’s market cap is $119.45 million. Xenon Pharmaceuticals has a 12 month low of $5.65 and a 12 month high of $9.93.
Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings results on Wednesday, August 3rd. The biopharmaceutical company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.06. Xenon Pharmaceuticals had a negative net margin of 199.68% and a negative return on equity of 28.85%. Equities research analysts forecast that Xenon Pharmaceuticals will post ($1.55) earnings per share for the current year.
In related news, Director Frank A. Holler sold 11,938 shares of the stock in a transaction on Friday, August 19th. The stock was sold at an average price of $7.65, for a total value of $91,325.70. Following the completion of the sale, the director now directly owns 145,869 shares in the company, valued at $1,115,897.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank A. Holler sold 18,062 shares of the stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $7.93, for a total value of $143,231.66. Following the completion of the sale, the director now owns 169,006 shares of the company’s stock, valued at $1,340,217.58. The disclosure for this sale can be found here. 11.10% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Opaleye Management Inc. increased its stake in Xenon Pharmaceuticals by 2.5% in the second quarter. Opaleye Management Inc. now owns 410,000 shares of the biopharmaceutical company’s stock worth $2,419,000 after buying an additional 10,000 shares during the last quarter. Perceptive Advisors LLC increased its stake in Xenon Pharmaceuticals by 110.3% in the second quarter. Perceptive Advisors LLC now owns 432,800 shares of the biopharmaceutical company’s stock worth $2,553,000 after buying an additional 227,000 shares during the last quarter. Finally, BVF Inc. IL increased its stake in Xenon Pharmaceuticals by 57.7% in the first quarter. BVF Inc. IL now owns 1,775,572 shares of the biopharmaceutical company’s stock worth $12,411,000 after buying an additional 650,000 shares during the last quarter. Institutional investors and hedge funds own 30.11% of the company’s stock.
Xenon Pharmaceuticals Company Profile
Xenon Pharmaceuticals Inc (Xenon) is a biopharmaceutical company discovering and developing a pipeline of differentiated therapeutics for orphan indications. The Company’s platform, Extreme Genetics, enables the discovery of validated drug targets by studying rare human diseases with extreme traits, including diseases caused by mutations in ion channels (channelopathies).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Xenon Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Xenon Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.