Xenon Pharmaceuticals (XENE) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research lowered shares of Xenon Pharmaceuticals (NASDAQ:XENE) from a buy rating to a hold rating in a report released on Saturday.

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 equities research analysts have also weighed in on XENE. ValuEngine upgraded shares of Xenon Pharmaceuticals from a buy rating to a strong-buy rating in a report on Tuesday, June 5th. Jefferies Financial Group reiterated a buy rating and set a $16.00 price target on shares of Xenon Pharmaceuticals in a report on Friday. Finally, Stifel Nicolaus upped their price target on shares of Xenon Pharmaceuticals from $9.00 to $15.00 and gave the company a buy rating in a report on Wednesday.



Xenon Pharmaceuticals traded down $0.35, hitting $11.75, during mid-day trading on Friday, Marketbeat.com reports. 153,241 shares of the stock traded hands, compared to its average volume of 139,125. The stock has a market cap of $171.48 million, a P/E ratio of -6.83 and a beta of 0.68. Xenon Pharmaceuticals has a 12-month low of $2.10 and a 12-month high of $12.15. The company has a current ratio of 20.83, a quick ratio of 9.70 and a debt-to-equity ratio of 0.41.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings data on Tuesday, August 7th. The biopharmaceutical company reported ($0.45) EPS for the quarter, beating the 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%. equities analysts forecast that Xenon Pharmaceuticals will post -1.42 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of XENE. Nexthera Capital LP bought a new position in Xenon Pharmaceuticals during the 1st quarter valued at about $1,857,000. Renaissance Technologies LLC lifted its stake in shares of Xenon Pharmaceuticals by 59.2% in the 4th quarter. Renaissance Technologies LLC now owns 249,000 shares of the biopharmaceutical company’s stock worth $703,000 after purchasing an additional 92,600 shares during the period. State of New Jersey Common Pension Fund D lifted its stake in shares of Xenon Pharmaceuticals by 138.6% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 155,100 shares of the biopharmaceutical company’s stock worth $1,427,000 after purchasing an additional 90,100 shares during the period. JBF Capital Inc. bought a new stake in Xenon Pharmaceuticals during the 2nd quarter worth approximately $368,000. Finally, NJ State Employees Deferred Compensation Plan raised its stake in Xenon Pharmaceuticals by 150.0% during the 2nd quarter. NJ State Employees Deferred Compensation Plan now owns 50,000 shares of the biopharmaceutical company’s stock worth $460,000 after acquiring an additional 30,000 shares during the period. 45.45% of the stock is currently owned by institutional investors and hedge funds.

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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