Xenon Pharmaceuticals (XENE) Stock Rating Lowered by Zacks Investment Research

Xenon Pharmaceuticals (NASDAQ:XENE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

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 equities analysts have also weighed in on XENE. BidaskClub lowered shares of Xenon Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 22nd. Jefferies Financial Group restated a “buy” rating and set a $16.00 price target on shares of Xenon Pharmaceuticals in a research report on Friday, August 10th. Finally, Stifel Nicolaus increased their price target on shares of Xenon Pharmaceuticals from $9.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, August 8th. Two investment 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 stock. The company currently has an average rating of “Buy” and an average price target of $14.33.

XENE traded down $0.13 during trading on Wednesday, hitting $9.81. 200 shares of the company traded hands, compared to its average volume of 131,573. The firm has a market cap of $192.03 million, a P/E ratio of -5.71 and a beta of 1.20. The company has a debt-to-equity ratio of 0.41, a quick ratio of 20.83 and a current ratio of 20.83. Xenon Pharmaceuticals has a one year low of $2.10 and a one year high of $15.92.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings results on Tuesday, November 6th. The biopharmaceutical company reported ($0.63) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.47) by ($0.16). Equities research analysts predict that Xenon Pharmaceuticals will post -1.33 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. purchased a new stake in Xenon Pharmaceuticals during the third quarter valued at about $111,000. Bank of Montreal Can lifted its holdings 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 valued at $155,000 after purchasing an additional 9,523 shares during the last quarter. Kovack Advisors Inc. purchased a new stake in Xenon Pharmaceuticals during the second quarter valued at about $113,000. OppenheimerFunds Inc. lifted its holdings in Xenon Pharmaceuticals by 104.3% during the second quarter. OppenheimerFunds Inc. now owns 22,481 shares of the biopharmaceutical company’s stock valued at $207,000 after purchasing an additional 11,476 shares during the last quarter. Finally, Spark Investment Management LLC lifted its holdings in Xenon Pharmaceuticals by 105.5% during the second quarter. Spark Investment Management LLC now owns 26,100 shares of the biopharmaceutical company’s stock valued at $240,000 after purchasing an additional 13,400 shares during the last quarter. 47.04% of the stock is currently owned by institutional investors and hedge funds.

Xenon Pharmaceuticals Company Profile

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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