Zacks Investment Research upgraded shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. The firm currently has $8.75 target price on the biopharmaceutical company’s stock.
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. “
Other analysts have also recently issued research reports about the stock. Guggenheim began coverage on shares of Xenon Pharmaceuticals in a research note on Monday, September 26th. They issued a buy rating and a $20.00 price objective on the stock. Canaccord Genuity reissued a buy rating and issued a $16.00 price objective on shares of Xenon Pharmaceuticals in a research note on Friday, August 5th. Finally, Stifel Nicolaus began coverage on shares of Xenon Pharmaceuticals in a research note on Friday, October 21st. They issued a buy rating and a $18.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating, The company currently has a consensus rating of Buy and an average target price of $15.15.
Xenon Pharmaceuticals (NASDAQ:XENE) opened at 7.80 on Wednesday. The company’s market cap is $139.57 million. The firm’s 50-day moving average price is $8.09 and its 200-day moving average price is $7.47. Xenon Pharmaceuticals has a 12-month low of $5.65 and a 12-month high of $9.75.
Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings data on Thursday, November 3rd. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.43) by $0.08. Xenon Pharmaceuticals had a negative return on equity of 34.72% and a negative net margin of 449.72%. Equities research analysts forecast that Xenon Pharmaceuticals will post ($1.57) earnings per share for the current fiscal year.
In other Xenon Pharmaceuticals news, Director Frank A. Holler sold 18,062 shares of the company’s stock in a transaction 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 sale, the director now owns 169,006 shares of the company’s stock, valued at $1,340,217.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank A. Holler sold 11,938 shares of the company’s stock in a transaction on Friday, August 19th. The shares were 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 in the company, valued at approximately $1,115,897.85. The disclosure for this sale can be found here. 11.10% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. M&T Bank Corp purchased a new stake in shares of Xenon Pharmaceuticals during the third quarter worth approximately $115,000. Monashee Investment Management LLC purchased a new stake in shares of Xenon Pharmaceuticals during the third quarter worth approximately $203,000. Sphera Funds Management LTD. purchased a new stake in shares of Xenon Pharmaceuticals during the third quarter worth approximately $1,847,000. Opaleye Management Inc. boosted its stake in shares of Xenon Pharmaceuticals by 33.3% in the first quarter. Opaleye Management Inc. now owns 400,000 shares of the biopharmaceutical company’s stock worth $2,796,000 after buying an additional 100,000 shares during the period. Finally, Perceptive Advisors LLC boosted 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 worth $2,553,000 after buying an additional 227,000 shares during the period. 30.14% of the stock is currently owned by institutional investors and hedge funds.
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).