Zacks Investment Research downgraded shares of Xenon Pharmaceuticals (NASDAQ:XENE) from a buy rating to a hold rating in a report released on Wednesday morning.
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 equities research analysts also recently issued reports about the company. Jefferies Financial Group reiterated a buy rating and issued a $16.00 target price on shares of Xenon Pharmaceuticals in a research report on Friday, August 10th. Stifel Nicolaus boosted their target price on Xenon Pharmaceuticals from $9.00 to $15.00 and gave the stock a buy rating in a research report on Wednesday, August 8th. Finally, BidaskClub downgraded Xenon Pharmaceuticals from a strong-buy rating to a buy rating in a research report on Saturday, September 22nd. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $14.33.
Shares of Xenon Pharmaceuticals stock traded down $0.51 during trading hours on Wednesday, hitting $9.43. The company’s stock had a trading volume of 88,362 shares, compared to its average volume of 128,567. The company has a quick ratio of 20.83, a current ratio of 29.36 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $189.72 million, a price-to-earnings ratio of -5.48 and a beta of 1.20. Xenon Pharmaceuticals has a 12-month low of $2.10 and a 12-month high of $15.92.
Xenon Pharmaceuticals (NASDAQ:XENE) last posted its earnings results on Tuesday, November 6th. The biopharmaceutical company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.16). On average, equities analysts expect that Xenon Pharmaceuticals will post -1.61 earnings per share for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. bought a new stake in Xenon Pharmaceuticals during the third quarter worth approximately $111,000. Kovack Advisors Inc. bought a new stake in Xenon Pharmaceuticals during the second quarter worth approximately $113,000. Trexquant Investment LP bought a new stake in Xenon Pharmaceuticals during the third quarter worth approximately $148,000. Bank of Montreal Can increased its stake in Xenon Pharmaceuticals by 433.3% during the third quarter. Bank of Montreal Can now owns 11,721 shares of the biopharmaceutical company’s stock worth $155,000 after acquiring an additional 9,523 shares during the last quarter. Finally, OppenheimerFunds Inc. increased its stake in Xenon Pharmaceuticals by 104.3% during the second quarter. OppenheimerFunds Inc. now owns 22,481 shares of the biopharmaceutical company’s stock worth $207,000 after acquiring an additional 11,476 shares during the last quarter. 47.04% of the stock is currently owned by institutional investors.
About Xenon Pharmaceuticals
Xenon Pharmaceuticals Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutics to treat patients with neurological disorders in Canada. The company uses Extreme Genetics, a core enabling discovery platform for the discovery of validated drug targets by studying rare human diseases with extreme traits, including diseases caused by mutations in ion channels, known as channelopathies.
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