Equities researchers at Guggenheim initiated coverage on shares of Xenon Pharmaceuticals (NASDAQ:XENE) in a research note issued on Friday, September 20th, MarketBeat reports. The firm set a “buy” rating and a $25.00 price target on the biopharmaceutical company’s stock. Guggenheim’s price objective would suggest a potential upside of 185.06% from the stock’s current price.
Other equities research analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Xenon Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, June 11th. Zacks Investment Research raised shares of Xenon Pharmaceuticals from a “sell” rating to a “hold” rating and set a $11.00 price target on the stock in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $18.00.
Xenon Pharmaceuticals stock opened at $8.77 on Friday. Xenon Pharmaceuticals has a 12-month low of $5.41 and a 12-month high of $13.49. The company has a quick ratio of 11.07, a current ratio of 11.07 and a debt-to-equity ratio of 0.18. The firm’s fifty day moving average price is $9.20 and its 200 day moving average price is $9.53.
Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.46) by $0.09. Equities analysts anticipate that Xenon Pharmaceuticals will post -1.88 EPS for the current year.
In other news, Director Frank A. Holler sold 5,069 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $9.32, for a total value of $47,243.08. Following the completion of the sale, the director now owns 136,129 shares of the company’s stock, valued at approximately $1,268,722.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Simon N. Pimstone sold 10,395 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $9.51, for a total transaction of $98,856.45. Following the completion of the sale, the chief executive officer now directly owns 258,122 shares of the company’s stock, valued at approximately $2,454,740.22. The disclosure for this sale can be found here. Insiders sold a total of 23,087 shares of company stock valued at $216,766 in the last three months. Insiders own 8.35% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. increased its position in shares of Xenon Pharmaceuticals by 8.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 925,000 shares of the biopharmaceutical company’s stock worth $9,121,000 after purchasing an additional 75,000 shares during the last quarter. Sphera Funds Management LTD. increased its position in shares of Xenon Pharmaceuticals by 18.7% in the 1st quarter. Sphera Funds Management LTD. now owns 533,655 shares of the biopharmaceutical company’s stock worth $5,422,000 after purchasing an additional 84,171 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Xenon Pharmaceuticals by 0.7% during the 2nd quarter. Renaissance Technologies LLC now owns 475,500 shares of the biopharmaceutical company’s stock valued at $4,688,000 after buying an additional 3,200 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Xenon Pharmaceuticals during the 2nd quarter valued at about $2,244,000. Finally, NEA Management Company LLC bought a new stake in shares of Xenon Pharmaceuticals during the 2nd quarter valued at about $1,802,000. 68.20% of the stock is owned by institutional investors.
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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