Xenon Pharmaceuticals Inc. (NASDAQ:XENE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm presently has a $8.75 price target on the biopharmaceutical company’s stock. Zacks Investment Research’s target price suggests a potential upside of 12.18% from the company’s current price.

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 recently commented on XENE. Canaccord Genuity reaffirmed a “buy” rating and set a $16.00 price objective on shares of Xenon Pharmaceuticals in a research note on Friday, August 5th. Guggenheim began coverage on Xenon Pharmaceuticals in a research report on Monday, September 26th. They set a “buy” rating and a $20.00 target price on the stock. Finally, Stifel Nicolaus began coverage on Xenon Pharmaceuticals in a research report on Friday, October 21st. They set a “buy” rating and a $18.00 target price on the stock. Five analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and a consensus price target of $15.15.

Xenon Pharmaceuticals (NASDAQ:XENE) opened at 7.80 on Wednesday. The company’s market cap is $112.52 million. Xenon Pharmaceuticals has a 52-week low of $5.65 and a 52-week high of $9.75. The firm’s 50-day moving average is $8.10 and its 200-day moving average is $7.47.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings data on Thursday, November 3rd. The biopharmaceutical company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates 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%. On average, equities research analysts anticipate that Xenon Pharmaceuticals will post ($1.55) EPS for the current year.

In related news, Director Frank A. Holler sold 11,938 shares of the firm’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $7.65, for a total transaction of $91,325.70. Following the completion of the sale, the director now directly owns 145,869 shares of the company’s stock, valued at approximately $1,115,897.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank A. Holler sold 18,062 shares of the firm’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $7.93, for a total value of $143,231.66. Following the sale, the director now directly owns 169,006 shares of the company’s stock, valued at $1,340,217.58. The disclosure for this sale can be found here. Insiders own 11.10% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. BVF Inc. IL increased its position in Xenon Pharmaceuticals by 57.7% in the first quarter. BVF Inc. IL now owns 1,775,572 shares of the biopharmaceutical company’s stock valued at $12,411,000 after buying an additional 650,000 shares in the last quarter. Opaleye Management Inc. boosted its position 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 valued at $2,796,000 after buying an additional 100,000 shares during the last quarter. Perceptive Advisors LLC boosted its position 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 valued at $2,553,000 after buying an additional 227,000 shares during the last quarter. M&T Bank Corp bought a new position in shares of Xenon Pharmaceuticals during the third quarter valued at about $115,000. Finally, Monashee Investment Management LLC bought a new position in shares of Xenon Pharmaceuticals during the third quarter valued at about $203,000. 30.10% of the stock is owned by hedge funds and other institutional investors.

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).

5 Day Chart for NASDAQ:XENE

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