Zacks Investment Research Lowers Xenon Pharmaceuticals (XENE) to Hold

Zacks Investment Research downgraded shares of Xenon Pharmaceuticals (NASDAQ:XENE) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

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. “

XENE has been the subject of several other research reports. ValuEngine upgraded shares of Xenon Pharmaceuticals from a buy rating to a strong-buy rating in a research note on Tuesday, June 5th. Stifel Nicolaus raised their target price on shares of Xenon Pharmaceuticals from $9.00 to $15.00 and gave the stock a buy rating in a research note on Wednesday, August 8th. Finally, Jefferies Financial Group restated a buy rating and issued a $16.00 target price on shares of Xenon Pharmaceuticals in a research note on Friday, August 10th.



XENE stock opened at $11.40 on Friday. Xenon Pharmaceuticals has a one year low of $2.10 and a one year high of $12.20. The firm has a market capitalization of $166.52 million, a PE ratio of -6.63 and a beta of 0.68. The company has a quick ratio of 20.83, a current ratio of 20.83 and a debt-to-equity ratio of 0.41.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.45) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.49) by $0.04. Xenon Pharmaceuticals had a negative net margin of 9,872.67% and a negative return on equity of 95.43%. research analysts expect that Xenon Pharmaceuticals will post -1.42 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the company. Kovack Advisors Inc. acquired a new stake in shares of Xenon Pharmaceuticals in the 2nd quarter worth $113,000. OppenheimerFunds Inc. lifted its stake in shares of Xenon Pharmaceuticals by 104.3% in 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 period. Spark Investment Management LLC lifted its stake in shares of Xenon Pharmaceuticals by 105.5% in 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 period. JBF Capital Inc. acquired a new stake in shares of Xenon Pharmaceuticals in the second quarter valued at about $368,000. Finally, NJ State Employees Deferred Compensation Plan lifted its stake in shares of Xenon Pharmaceuticals by 150.0% in the second quarter. NJ State Employees Deferred Compensation Plan now owns 50,000 shares of the biopharmaceutical company’s stock valued at $460,000 after purchasing an additional 30,000 shares during the period. Institutional investors own 45.74% of the company’s stock.

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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