Xenon Pharmaceuticals Inc. (NASDAQ:XENE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued 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. “
Several other analysts have also commented on the stock. Guggenheim started coverage on shares of Xenon Pharmaceuticals in a research report on Monday, September 26th. They issued a “buy” rating and a $20.00 price objective on the stock. Canaccord Genuity reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Xenon Pharmaceuticals in a research report on Friday, August 5th.
Xenon Pharmaceuticals (NASDAQ:XENE) traded up 0.2587% on Thursday, reaching $7.7901. 7,620 shares of the company’s stock traded hands. The stock’s market cap is $112.38 million. Xenon Pharmaceuticals has a 52-week low of $5.65 and a 52-week high of $10.07. The company’s 50 day moving average is $7.95 and its 200-day moving average is $7.27.
Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings data on Wednesday, August 3rd. The biopharmaceutical company reported ($0.42) 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 analysts expect that Xenon Pharmaceuticals will post ($1.55) EPS for the current year.
In other news, Director Frank A. Holler sold 11,938 shares of the business’s stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $7.65, for a total value of $91,325.70. Following the sale, the director now owns 145,869 shares of the company’s stock, valued at $1,115,897.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Frank A. Holler sold 18,062 shares of the business’s 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 directly owns 169,006 shares in the company, valued at approximately $1,340,217.58. The disclosure for this sale can be found here. 11.10% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the stock. BVF Inc. IL raised 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 valued at $12,411,000 after buying an additional 650,000 shares during the period. Perceptive Advisors LLC raised 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 valued at $2,553,000 after buying an additional 227,000 shares during the period. Finally, Opaleye Management Inc. raised its stake in Xenon Pharmaceuticals by 33.3% in the first quarter. Opaleye Management Inc. now owns 400,000 shares of the biopharmaceutical company’s stock valued at $2,796,000 after buying an additional 100,000 shares during the period. 30.11% of the stock is currently owned by institutional investors.
About Xenon Pharmaceuticals
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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