Zacks Investment Research cut shares of Xenon Pharmaceuticals (NASDAQ:XENE) from a buy rating to a hold rating in a research note released on Saturday, Zacks.com reports.
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. “
A number of other equities research analysts have also issued reports on XENE. Wedbush assumed coverage on Xenon Pharmaceuticals in a research note on Tuesday, March 24th. They set an outperform rating and a $23.00 price target for the company. William Blair restated a buy rating on shares of Xenon Pharmaceuticals in a report on Friday, May 22nd. ValuEngine upgraded Xenon Pharmaceuticals from a hold rating to a buy rating in a report on Monday, March 9th. Jefferies Financial Group assumed coverage on Xenon Pharmaceuticals in a report on Sunday, May 31st. They set a buy rating and a $23.00 price objective on the stock. Finally, BidaskClub downgraded Xenon Pharmaceuticals from a buy rating to a hold rating in a report on Friday, May 29th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Xenon Pharmaceuticals presently has an average rating of Buy and an average target price of $21.25.
Shares of XENE stock opened at $12.01 on Friday. Xenon Pharmaceuticals has a 52-week low of $7.00 and a 52-week high of $18.45. The firm has a market capitalization of $450.82 million, a P/E ratio of -8.96 and a beta of 1.36. The stock has a 50 day moving average price of $12.90 and a 200 day moving average price of $13.56.
Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings results on Thursday, May 21st. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.32) by $0.10. The business had revenue of $7.08 million for the quarter, compared to the consensus estimate of $7.50 million. On average, equities research analysts anticipate that Xenon Pharmaceuticals will post -0.85 earnings per share for the current fiscal year.
In other news, CEO Simon N. Pimstone sold 5,000 shares of Xenon Pharmaceuticals stock in a transaction on Friday, May 29th. The stock was sold at an average price of $13.99, for a total value of $69,950.00. Following the transaction, the chief executive officer now directly owns 258,186 shares in the company, valued at approximately $3,612,022.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Simon N. Pimstone sold 3,000 shares of Xenon Pharmaceuticals stock in a transaction on Monday, June 1st. The shares were sold at an average price of $14.43, for a total value of $43,290.00. Following the completion of the transaction, the chief executive officer now owns 258,186 shares in the company, valued at $3,725,623.98. The disclosure for this sale can be found here. Company insiders own 7.20% of the company’s stock.
Several large investors have recently made changes to their positions in XENE. Bank of America Corp DE purchased a new position in shares of Xenon Pharmaceuticals in the 4th quarter valued at $34,000. Morgan Stanley increased its holdings in shares of Xenon Pharmaceuticals by 34.0% in the 1st quarter. Morgan Stanley now owns 5,445 shares of the biopharmaceutical company’s stock valued at $62,000 after acquiring an additional 1,383 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Xenon Pharmaceuticals in the 1st quarter valued at $64,000. Tower Research Capital LLC TRC increased its holdings in shares of Xenon Pharmaceuticals by 66.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,006 shares of the biopharmaceutical company’s stock valued at $65,000 after acquiring an additional 2,004 shares during the period. Finally, BlackRock Inc. purchased a new position in shares of Xenon Pharmaceuticals in the 1st quarter valued at $87,000. Institutional investors and hedge funds own 79.24% of the company’s stock.
About Xenon Pharmaceuticals
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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