Xenon Pharmaceuticals Inc (NASDAQ:XENE)’s stock price rose 11.6% during trading on Wednesday . The stock traded as high as $17.40 and last traded at $17.18, approximately 553,058 shares changed hands during trading. An increase of 70% from the average daily volume of 324,642 shares. The stock had previously closed at $15.40.

XENE has been the subject of several research reports. BidaskClub downgraded shares of Xenon Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 4th. ValuEngine downgraded shares of Xenon Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. William Blair initiated coverage on shares of Xenon Pharmaceuticals in a research note on Wednesday, January 8th. They set an “outperform” rating for the company. Finally, Zacks Investment Research upgraded shares of Xenon Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $16.00 price objective for the company in a research note on Saturday, January 11th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Xenon Pharmaceuticals has an average rating of “Buy” and an average target price of $19.67.

The company has a debt-to-equity ratio of 0.18, a current ratio of 8.25 and a quick ratio of 8.25. The company’s fifty day moving average is $15.31 and its 200-day moving average is $11.25. The stock has a market cap of $437.45 million, a PE ratio of -11.99 and a beta of 1.50.

Institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC purchased a new position in shares of Xenon Pharmaceuticals during the third quarter worth $27,000. Bank of America Corp DE purchased a new position in shares of Xenon Pharmaceuticals during the fourth quarter worth $34,000. Morgan Stanley increased its holdings in Xenon Pharmaceuticals by 25.3% in the second quarter. Morgan Stanley now owns 6,148 shares of the biopharmaceutical company’s stock valued at $61,000 after buying an additional 1,241 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Xenon Pharmaceuticals by 66.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,006 shares of the biopharmaceutical company’s stock valued at $65,000 after buying an additional 2,004 shares in the last quarter. Finally, Supplemental Annuity Collective Trust of NJ purchased a new position in Xenon Pharmaceuticals in the third quarter valued at $99,000. 69.17% of the stock is owned by hedge funds and other institutional investors.

About Xenon Pharmaceuticals (NASDAQ:XENE)

Xenon Pharmaceuticals, Inc engages in discovering and developing therapeutics to improve the lives of patients with neurological disorders. It focuses on the treatment of epilepsy. Its products include XEN496, XEN1101, XEN901, and XEN007. The company was founded by Simon Neil Pimstone, Johannes J. P.

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