Xenon Pharmaceuticals (XENE) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Xenon Pharmaceuticals (NASDAQ:XENE) from a sell rating to a hold rating in a report issued on Sunday.

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. “

Xenon Pharmaceuticals (XENE) remained flat at $$2.80 on Friday. 29,900 shares of the stock were exchanged, compared to its average volume of 36,115. The company has a market cap of $50.40, a PE ratio of -1.76 and a beta of 1.32. Xenon Pharmaceuticals has a 1-year low of $2.10 and a 1-year high of $9.95.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.35). Xenon Pharmaceuticals had a negative net margin of 4,268.70% and a negative return on equity of 53.33%. sell-side analysts anticipate that Xenon Pharmaceuticals will post -1.49 EPS for the current fiscal year.

In other news, Director Mohammad Azab bought 15,000 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was acquired at an average price of $2.22 per share, for a total transaction of $33,300.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 9.40% of the stock is currently owned by insiders.

A hedge fund recently raised its stake in Xenon Pharmaceuticals stock. Scotia Capital Inc. increased its stake in shares of Xenon Pharmaceuticals Inc (NASDAQ:XENE) by 36.0% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 35,629 shares of the biopharmaceutical company’s stock after acquiring an additional 9,426 shares during the period. Scotia Capital Inc. owned approximately 0.20% of Xenon Pharmaceuticals worth $112,000 at the end of the most recent reporting period. 54.60% of the stock is owned by hedge funds and other institutional investors.

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About Xenon Pharmaceuticals

Xenon Pharmaceuticals Inc is a Canada-based clinical-stage biopharmaceutical company. It is engaged in discovering and developing a pipeline of differentiated therapeutics for orphan indications. Its product pipeline includes: Glybera, TV-45070, GDC-0310, XEN901 (Nav1.6 inhibitor) and XEN1101. Glybera is used for the treatment of lipoprotein lipase deficiency (LPLD).

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