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

Other equities research analysts have also recently issued research reports about the company. BidaskClub cut Xenon Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, January 6th. SVB Leerink initiated coverage on Xenon Pharmaceuticals in a research note on Friday, October 2nd. They set an “outperform” rating and a $22.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $21.50.

Shares of Xenon Pharmaceuticals stock opened at $15.28 on Thursday. Xenon Pharmaceuticals has a 12-month low of $7.00 and a 12-month high of $18.45. The stock has a market cap of $534.91 million, a P/E ratio of -15.75 and a beta of 1.20. The business’s 50 day moving average is $13.37 and its 200-day moving average is $11.97.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings data on Thursday, November 5th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.10). Xenon Pharmaceuticals had a negative return on equity of 21.76% and a negative net margin of 102.25%. The company had revenue of $6.55 million for the quarter, compared to the consensus estimate of $10.33 million. Analysts forecast that Xenon Pharmaceuticals will post -0.87 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of XENE. UBS Group AG boosted its stake in Xenon Pharmaceuticals by 259.8% in the second quarter. UBS Group AG now owns 2,274 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 1,642 shares in the last quarter. Great West Life Assurance Co. Can acquired a new stake in Xenon Pharmaceuticals in the second quarter valued at about $30,000. Bank of America Corp DE acquired a new stake in Xenon Pharmaceuticals in the second quarter valued at about $44,000. Sanders Morris Harris LLC acquired a new stake in shares of Xenon Pharmaceuticals during the third quarter valued at about $288,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Xenon Pharmaceuticals during the second quarter valued at about $367,000. Hedge funds and other institutional investors own 79.90% of the company’s stock.

About Xenon Pharmaceuticals

Xenon Pharmaceuticals Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline include XEN496, A Kv7 potassium channel modulator that is Phase II clinical trials for the treatment of KCNQ2 epilepsy; XEN1101, A Kv7 potassium channel modulator, which is in Phase II clinical trial for the treatment of epilepsy.

Featured Article: What are momentum indicators and what do they show?

Get a free copy of the Zacks research report on Xenon Pharmaceuticals (XENE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Xenon Pharmaceuticals (NASDAQ:XENE)

Receive News & Ratings for Xenon Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Xenon Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.