Xenon Pharmaceuticals Inc. (NASDAQ:XENE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors 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. “

A number of other equities research analysts have also issued reports on the company. Jefferies Group LLC lowered their target price on Xenon Pharmaceuticals from $8.00 to $5.00 and set a “buy” rating for the company in a research note on Wednesday, June 28th. Canaccord Genuity reiterated a “buy” rating and issued a $5.00 target price on shares of Xenon Pharmaceuticals in a research note on Tuesday, June 27th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $10.63.

Xenon Pharmaceuticals (XENE) opened at 2.945 on Thursday. The stock’s market cap is $53.00 million. Xenon Pharmaceuticals has a 52 week low of $2.25 and a 52 week high of $9.95. The stock has a 50 day moving average price of $3.03 and a 200 day moving average price of $3.68.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.03). Xenon Pharmaceuticals had a negative net margin of 3,489.63% and a negative return on equity of 47.53%. The company had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.38 million. On average, equities analysts predict that Xenon Pharmaceuticals will post ($0.97) earnings per share for the current year.

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In other Xenon Pharmaceuticals news, insider Value Fund L. P. Biotechnology purchased 60,202 shares of Xenon Pharmaceuticals stock in a transaction that occurred on Tuesday, August 15th. The stock was purchased at an average price of $2.61 per share, with a total value of $157,127.22. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mohammad Azab purchased 10,000 shares of Xenon Pharmaceuticals stock in a transaction that occurred on Friday, September 22nd. The stock was acquired at an average cost of $2.95 per share, with a total value of $29,500.00. Following the acquisition, the director now directly owns 21,210 shares of the company’s stock, valued at approximately $62,569.50. The disclosure for this purchase can be found here. In the last quarter, insiders bought 210,739 shares of company stock valued at $568,975. Insiders own 9.40% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of XENE. Renaissance Technologies LLC boosted its holdings in Xenon Pharmaceuticals by 90.1% in the first quarter. Renaissance Technologies LLC now owns 217,090 shares of the biopharmaceutical company’s stock valued at $868,000 after purchasing an additional 102,890 shares during the last quarter. KCG Holdings Inc. purchased a new position in Xenon Pharmaceuticals in the first quarter valued at about $122,000. Sabby Management LLC purchased a new position in Xenon Pharmaceuticals in the first quarter valued at about $1,186,000. Endurant Capital Management LP purchased a new position in Xenon Pharmaceuticals in the first quarter valued at about $1,363,000. Finally, K2 Principal Fund L.P. boosted its holdings in Xenon Pharmaceuticals by 40.6% in the second quarter. K2 Principal Fund L.P. now owns 164,510 shares of the biopharmaceutical company’s stock valued at $518,000 after purchasing an additional 47,535 shares during the last quarter. 55.30% of the stock is owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals Inc is a Canada-based clinical-stage biopharmaceutical company. It is engaged in discovering and developing a pipeline of differentiated therapeutics for orphan indications. Its product pipeline includes: Glybera, TV-45070, GDC-0310, XEN901 (Nav1.6 inhibitor) and XEN1101. Glybera is used for the treatment of lipoprotein lipase deficiency (LPLD).

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