Zacks Investment Research Lowers Xenon Pharmaceuticals (XENE) to Sell

Schonfeld Strategic Advisors LLC lifted its holdings in shares of Xenon Pharmaceuticals by 2.0% during the first quarter. Schonfeld Strategic Advisors …

Xenon Pharmaceuticals logoXenon Pharmaceuticals (NASDAQ:XENE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

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 research analysts have also recently issued reports on XENE. Stifel Nicolaus reaffirmed a “buy” rating and set a $18.00 price objective (down from $21.00) on shares of Xenon Pharmaceuticals in a research note on Friday, March 29th. BidaskClub raised Xenon Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $15.00.

Shares of XENE stock traded up $0.01 on Wednesday, reaching $9.91. The company’s stock had a trading volume of 1,722 shares, compared to its average volume of 69,492. The company has a debt-to-equity ratio of 0.18, a quick ratio of 17.57 and a current ratio of 17.57. Xenon Pharmaceuticals has a 12-month low of $5.41 and a 12-month high of $15.92. The company has a market capitalization of $255.12 million, a PE ratio of -7.45 and a beta of 1.66.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.42) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.36) by ($0.06). On average, sell-side analysts forecast that Xenon Pharmaceuticals will post -1.88 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. Schonfeld Strategic Advisors LLC lifted its holdings in shares of Xenon Pharmaceuticals by 2.0% during the first quarter. Schonfeld Strategic Advisors LLC now owns 500,000 shares of the biopharmaceutical company’s stock valued at $5,080,000 after purchasing an additional 9,942 shares during the last quarter. Altshuler Shaham Ltd lifted its holdings in shares of Xenon Pharmaceuticals by 46.5% during the first quarter. Altshuler Shaham Ltd now owns 143,607 shares of the biopharmaceutical company’s stock valued at $1,459,000 after purchasing an additional 45,600 shares during the last quarter. Altrinsic Global Advisors LLC lifted its holdings in shares of Xenon Pharmaceuticals by 6.7% during the first quarter. Altrinsic Global Advisors LLC now owns 160,000 shares of the biopharmaceutical company’s stock valued at $1,626,000 after purchasing an additional 10,000 shares during the last quarter. Northern Trust Corp raised its holdings in Xenon Pharmaceuticals by 97.6% in the 1st quarter. Northern Trust Corp now owns 24,202 shares of the biopharmaceutical company’s stock worth $246,000 after acquiring an additional 11,956 shares during the last quarter. Finally, Knott David M raised its holdings in Xenon Pharmaceuticals by 3.5% in the 1st quarter. Knott David M now owns 179,390 shares of the biopharmaceutical company’s stock worth $1,823,000 after acquiring an additional 6,000 shares during the last quarter. Hedge funds and other institutional investors own 68.83% of the company’s stock.

About Xenon Pharmaceuticals

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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