Jefferies Group Increases Xenon Pharmaceuticals (XENE) Price Target to $6.00

Xenon Pharmaceuticals (NASDAQ:XENE) had its price objective hoisted by Jefferies Group to $6.00 in a research note issued to investors on Thursday. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Jefferies Group’s target price suggests a potential upside of 26.32% from the stock’s current price.

XENE has been the topic of several other reports. ValuEngine raised Xenon Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Friday, February 2nd. Zacks Investment Research raised Xenon Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Sunday, January 21st. Finally, Stifel Nicolaus raised their price objective on Xenon Pharmaceuticals from $7.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, March 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $6.67.

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Shares of Xenon Pharmaceuticals stock opened at $4.75 on Thursday. The company has a market capitalization of $88.21, a PE ratio of -2.76 and a beta of 1.10. Xenon Pharmaceuticals has a 1-year low of $2.10 and a 1-year high of $5.00. The company has a current ratio of 10.98, a quick ratio of 10.99 and a debt-to-equity ratio of 0.17.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings data on Wednesday, March 7th. The biopharmaceutical company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.34). Xenon Pharmaceuticals had a negative net margin of 9,872.67% and a negative return on equity of 65.72%. The business had revenue of $0.02 million during the quarter, compared to analyst estimates of $6.38 million. analysts predict that Xenon Pharmaceuticals will post -1.45 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in XENE. Renaissance Technologies LLC lifted its position in shares of Xenon Pharmaceuticals by 59.2% in the fourth quarter. Renaissance Technologies LLC now owns 249,000 shares of the biopharmaceutical company’s stock valued at $703,000 after acquiring an additional 92,600 shares in the last quarter. K2 Principal Fund L.P. lifted its position in shares of Xenon Pharmaceuticals by 33.5% in the fourth quarter. K2 Principal Fund L.P. now owns 219,543 shares of the biopharmaceutical company’s stock valued at $620,000 after acquiring an additional 55,033 shares in the last quarter. Finally, Sabby Management LLC lifted its position in shares of Xenon Pharmaceuticals by 7.1% in the fourth quarter. Sabby Management LLC now owns 329,400 shares of the biopharmaceutical company’s stock valued at $931,000 after acquiring an additional 21,800 shares in the last quarter. Institutional investors and hedge funds own 50.87% of the company’s stock.

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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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