Xenon Pharmaceuticals (NASDAQ:XENE) Upgraded to “Buy” at BidaskClub

BidaskClub upgraded shares of Xenon Pharmaceuticals (NASDAQ:XENE) from a hold rating to a buy rating in a report published on Thursday morning, BidAskClub reports.

XENE has been the topic of several other research reports. ValuEngine cut shares of Xenon Pharmaceuticals from a buy rating to a hold rating in a research report on Tuesday. Zacks Investment Research upgraded shares of Xenon Pharmaceuticals from a hold rating to a buy rating and set a $10.00 price objective for the company in a research report on Saturday, October 26th. Finally, Guggenheim assumed coverage on shares of Xenon Pharmaceuticals in a research report on Friday, September 20th. They set a buy rating and a $25.00 price objective for the company. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $17.67.

Shares of NASDAQ:XENE traded up $0.07 during midday trading on Thursday, hitting $13.95. The company had a trading volume of 114,065 shares, compared to its average volume of 84,148. Xenon Pharmaceuticals has a twelve month low of $5.41 and a twelve month high of $14.44. The stock has a market cap of $360.87 million, a price-to-earnings ratio of -10.49 and a beta of 1.43. The company has a debt-to-equity ratio of 0.18, a current ratio of 8.25 and a quick ratio of 8.25. The business’s 50-day simple moving average is $9.74 and its 200-day simple moving average is $9.52.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.49) by $0.16. The company had revenue of $3.50 million during the quarter. As a group, sell-side analysts forecast that Xenon Pharmaceuticals will post -1.66 EPS for the current year.

In related news, Director Frank A. Holler sold 5,069 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $9.32, for a total transaction of $47,243.08. Following the completion of the sale, the director now directly owns 136,129 shares of the company’s stock, valued at approximately $1,268,722.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Simon N. Pimstone sold 10,395 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $9.51, for a total value of $98,856.45. Following the sale, the chief executive officer now directly owns 258,122 shares of the company’s stock, valued at $2,454,740.22. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,087 shares of company stock worth $216,766. Corporate insiders own 8.35% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. NEA Management Company LLC boosted its stake in Xenon Pharmaceuticals by 229.8% during the third quarter. NEA Management Company LLC now owns 602,663 shares of the biopharmaceutical company’s stock worth $5,430,000 after buying an additional 419,909 shares during the period. Bank of New York Mellon Corp acquired a new stake in Xenon Pharmaceuticals in the 2nd quarter valued at approximately $2,244,000. Russell Investments Group Ltd. increased its holdings in Xenon Pharmaceuticals by 1,710.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 83,280 shares of the biopharmaceutical company’s stock valued at $821,000 after purchasing an additional 78,679 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in Xenon Pharmaceuticals by 8.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 925,000 shares of the biopharmaceutical company’s stock valued at $9,121,000 after purchasing an additional 75,000 shares during the last quarter. Finally, Invesco Ltd. purchased a new stake in Xenon Pharmaceuticals in the second quarter valued at approximately $137,000. 62.24% of the stock is currently owned by institutional investors.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals, Inc engages in discovering and developing therapeutics to improve the lives of patients with neurological disorders. It focuses on the treatment of epilepsy. Its products include XEN496, XEN1101, XEN901, and XEN007. The company was founded by Simon Neil Pimstone, Johannes J. P.

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