Xenon Pharmaceuticals (XENE) Shares Up 8.4%

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Shares of Xenon Pharmaceuticals Inc (NASDAQ:XENE) shot up 8.4% on Friday . The company traded as high as $15.92 and last traded at $14.25. 643,071 shares traded hands during trading, an increase of 282% from the average session volume of 168,548 shares. The stock had previously closed at $13.15.

A number of brokerages have weighed in on XENE. BidaskClub raised shares of Xenon Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Zacks Investment Research cut shares of Xenon Pharmaceuticals from a “buy” rating to a “hold” rating in a report 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 report on Friday, August 10th. Stifel Nicolaus increased their target price on shares of Xenon Pharmaceuticals from $9.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, August 8th. Finally, ValuEngine raised shares of Xenon Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report 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 stock. The stock has a consensus rating of “Buy” and a consensus price target of $12.58.

The firm has a market capitalization of $259.06 million, a price-to-earnings ratio of -8.26 and a beta of 0.87. 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 (NASDAQ:XENE) last issued its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.45) earnings per share for the quarter, topping the Zacks’ 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 anticipate that Xenon Pharmaceuticals Inc will post -1.39 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in XENE. Kovack Advisors Inc. acquired a new stake in shares of Xenon Pharmaceuticals in the 2nd quarter worth about $113,000. OppenheimerFunds Inc. increased its holdings in shares of Xenon Pharmaceuticals by 104.3% in the 2nd quarter. OppenheimerFunds Inc. now owns 22,481 shares of the biopharmaceutical company’s stock worth $207,000 after acquiring an additional 11,476 shares during the period. Spark Investment Management LLC increased its holdings in shares of Xenon Pharmaceuticals by 105.5% in the 2nd quarter. Spark Investment Management LLC now owns 26,100 shares of the biopharmaceutical company’s stock worth $240,000 after acquiring an additional 13,400 shares during the period. Elmwood Wealth Management Inc. increased its holdings in shares of Xenon Pharmaceuticals by 100.0% in the 2nd quarter. Elmwood Wealth Management Inc. now owns 37,458 shares of the biopharmaceutical company’s stock worth $264,000 after acquiring an additional 18,729 shares during the period. Finally, JBF Capital Inc. acquired a new stake in shares of Xenon Pharmaceuticals in the 2nd quarter worth about $368,000. 47.26% of the stock is currently owned by institutional investors and hedge funds.

Xenon Pharmaceuticals Company Profile (NASDAQ:XENE)

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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