Xenon Pharmaceuticals Inc. (NASDAQ:XENE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to 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 research analysts also recently commented on XENE. Jefferies Group LLC reiterated a “buy” rating and set 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 set a $5.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday, June 27th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $10.63.

Shares of Xenon Pharmaceuticals (NASDAQ XENE) opened at 2.925 on Thursday. Xenon Pharmaceuticals has a one year low of $2.25 and a one year high of $9.95. The stock has a 50 day moving average of $3.03 and a 200-day moving average of $3.68. The company’s market capitalization is $52.64 million.

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

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In related news, Director Mohammad Azab purchased 10,000 shares of the stock in a transaction that occurred on Friday, September 22nd. The stock was bought at an average cost of $2.95 per share, for a total transaction of $29,500.00. Following the completion of the transaction, the director now directly owns 21,210 shares in the company, valued at $62,569.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Bvf Partners L. P/Il purchased 41,344 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was bought at an average price of $2.70 per share, with a total value of $111,628.80. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 210,739 shares of company stock valued at $568,975. 9.40% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Scotia Capital Inc. lifted its position in Xenon Pharmaceuticals by 36.0% in the second quarter. Scotia Capital Inc. now owns 35,629 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 9,426 shares during the last quarter. M&T Bank Corp bought a new stake in Xenon Pharmaceuticals in the third quarter worth $115,000. K2 Principal Fund L.P. bought a new stake in Xenon Pharmaceuticals in the third quarter worth $122,000. Leith Wheeler Investment Counsel bought a new stake in Xenon Pharmaceuticals in the fourth quarter worth $178,000. Finally, Renaissance Technologies LLC lifted its position in Xenon Pharmaceuticals by 18.7% in the fourth quarter. Renaissance Technologies LLC now owns 114,200 shares of the biopharmaceutical company’s stock worth $879,000 after buying an additional 18,000 shares during the last quarter. Institutional investors 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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