Zacks Investment Research upgraded shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) from a sell rating to a hold rating in a research report released 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. “

Several other research analysts have also issued reports on XENE. Jefferies Group LLC reiterated a buy rating and issued a $8.00 target price on shares of Xenon Pharmaceuticals in a research report on Monday, June 12th. Canaccord Genuity reiterated a buy rating and issued a $5.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday, June 27th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Xenon Pharmaceuticals currently has a consensus rating of Buy and an average target price of $10.63.

Shares of Xenon Pharmaceuticals (XENE) opened at 3.00 on Thursday. Xenon Pharmaceuticals has a 12-month low of $2.25 and a 12-month high of $9.95. The company’s 50 day moving average price is $3.04 and its 200 day moving average price is $3.64. The firm’s market cap is $53.99 million.

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

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In other Xenon Pharmaceuticals news, CFO Ian Mortimer purchased 15,000 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was acquired at an average cost of $2.88 per share, for a total transaction of $43,200.00. Following the completion of the transaction, the chief financial officer now directly owns 6,000 shares in the company, valued at approximately $17,280. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Bvf Partners L. P/Il purchased 18,858 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were acquired at an average price of $2.41 per share, with a total value of $45,447.78. The disclosure for this purchase can be found here. Insiders purchased 210,739 shares of company stock valued at $568,975 over the last quarter. 9.40% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Scotia Capital Inc. boosted its position in Xenon Pharmaceuticals by 36.0% during the second quarter. Scotia Capital Inc. now owns 35,629 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 9,426 shares during the period. KCG Holdings Inc. purchased a new stake in Xenon Pharmaceuticals during the first quarter valued at about $122,000. DAFNA Capital Management LLC boosted its position in Xenon Pharmaceuticals by 11.2% during the second quarter. DAFNA Capital Management LLC now owns 377,695 shares of the biopharmaceutical company’s stock valued at $1,190,000 after buying an additional 38,081 shares during the period. K2 Principal Fund L.P. boosted its position in Xenon Pharmaceuticals by 40.6% during the second quarter. K2 Principal Fund L.P. now owns 164,510 shares of the biopharmaceutical company’s stock valued at $518,000 after buying an additional 47,535 shares during the period. Finally, Renaissance Technologies LLC boosted its position in Xenon Pharmaceuticals by 90.1% during the first quarter. Renaissance Technologies LLC now owns 217,090 shares of the biopharmaceutical company’s stock valued at $868,000 after buying an additional 102,890 shares during the period. Institutional investors and hedge funds own 55.30% of the company’s stock.

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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