Investment analysts at Guggenheim assumed coverage on shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) in a note issued to investors on Monday. The firm set a “buy” rating and a $20.00 price target on the biopharmaceutical company’s stock. Guggenheim’s target price points to a potential upside of 145.40% from the company’s current price.
A number of other research analysts also recently commented on XENE. Zacks Investment Research downgraded shares of Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, August 10th. Canaccord Genuity reissued a “buy” rating and set a $16.00 target price on shares of Xenon Pharmaceuticals in a research report on Friday, August 5th.
Shares of Xenon Pharmaceuticals (NASDAQ:XENE) opened at 8.15 on Monday. The stock’s 50 day moving average is $7.95 and its 200 day moving average is $7.24. The stock’s market cap is $117.57 million. Xenon Pharmaceuticals has a 12 month low of $5.65 and a 12 month high of $10.07.
Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings data on Wednesday, August 3rd. The biopharmaceutical company reported ($0.42) EPS for the quarter, beating the Zacks’ 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%. Analysts predict that Xenon Pharmaceuticals will post ($1.55) earnings per share for the current fiscal year.
In related news, Director Frank A. Holler sold 18,062 shares of the stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $7.93, for a total transaction of $143,231.66. Following the completion of the sale, the director now owns 169,006 shares of the company’s stock, valued at approximately $1,340,217.58. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frank A. Holler sold 11,938 shares of the stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $7.65, for a total transaction of $91,325.70. Following the sale, the director now directly owns 145,869 shares of the company’s stock, valued at approximately $1,115,897.85. The disclosure for this sale can be found here. Corporate insiders own 11.10% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Opaleye Management Inc. increased its stake in shares of Xenon Pharmaceuticals by 2.5% in the second quarter. Opaleye Management Inc. now owns 410,000 shares of the biopharmaceutical company’s stock valued at $2,419,000 after buying an additional 10,000 shares during the period. Perceptive Advisors LLC increased its stake in shares of Xenon Pharmaceuticals by 110.3% in the second quarter. Perceptive Advisors LLC now owns 432,800 shares of the biopharmaceutical company’s stock valued at $2,553,000 after buying an additional 227,000 shares during the period. Finally, BVF Inc. IL increased its stake in shares of Xenon Pharmaceuticals by 57.7% in the first quarter. BVF Inc. IL now owns 1,775,572 shares of the biopharmaceutical company’s stock valued at $12,411,000 after buying an additional 650,000 shares during the period. 30.89% of the stock is owned by hedge funds and other institutional investors.
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).
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