BidaskClub upgraded shares of Xenon Pharmaceuticals (NASDAQ:XENE) from a buy rating to a strong-buy rating in a research note issued to investors on Wednesday.
Several other equities analysts have also recently commented on the stock. Zacks Investment Research cut shares of Xenon Pharmaceuticals from a buy rating to a hold rating in a research note on Saturday, August 11th. Jefferies Financial Group reissued a buy rating and set a $16.00 target price on shares of Xenon Pharmaceuticals in a research note on Friday, August 10th. Stifel Nicolaus raised their target price on shares of Xenon Pharmaceuticals from $9.00 to $15.00 and gave the company a buy rating in a research note on Wednesday, August 8th. Finally, ValuEngine raised shares of Xenon Pharmaceuticals from a buy rating to a strong-buy rating in a research note on Tuesday, June 5th. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $12.58.
Xenon Pharmaceuticals stock opened at $13.45 on Wednesday. The company has a current ratio of 20.83, a quick ratio of 20.83 and a debt-to-equity ratio of 0.41. Xenon Pharmaceuticals has a 52 week low of $2.10 and a 52 week high of $13.80.
Xenon Pharmaceuticals (NASDAQ:XENE) last released its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.45) EPS for the quarter, beating 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%. sell-side analysts forecast that Xenon Pharmaceuticals will post -1.39 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the business. Kovack Advisors Inc. acquired a new position in Xenon Pharmaceuticals during the 2nd quarter valued at about $113,000. OppenheimerFunds Inc. boosted its position in shares of Xenon Pharmaceuticals by 104.3% during the 2nd 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 in the last quarter. Spark Investment Management LLC boosted its position in shares of Xenon Pharmaceuticals by 105.5% during the 2nd 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 in the last quarter. Elmwood Wealth Management Inc. boosted its position in shares of Xenon Pharmaceuticals by 100.0% during the 2nd quarter. Elmwood Wealth Management Inc. now owns 37,458 shares of the biopharmaceutical company’s stock valued at $264,000 after purchasing an additional 18,729 shares in the last quarter. Finally, JBF Capital Inc. bought a new position in shares of Xenon Pharmaceuticals during the 2nd quarter valued at about $368,000. 47.26% of the stock is currently owned by hedge funds and other institutional investors.
About Xenon Pharmaceuticals
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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