Stifel Nicolaus Reiterates “Buy” Rating for Xenon Pharmaceuticals (XENE)

Stifel Nicolaus reaffirmed their buy rating on shares of Xenon Pharmaceuticals (NASDAQ:XENE) in a report published on Friday, March 29th, BenzingaRatingsTable reports. The brokerage currently has a $18.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $21.00.

Several other research firms also recently commented on XENE. Zacks Investment Research raised shares of Xenon Pharmaceuticals from a hold rating to a buy rating and set a $9.75 price target on the stock in a research note on Saturday, March 9th. ValuEngine upgraded shares of Xenon Pharmaceuticals from a buy rating to a strong-buy rating in a report on Wednesday, January 2nd. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $14.58.

XENE traded up $0.15 on Friday, reaching $8.66. The company had a trading volume of 56,014 shares, compared to its average volume of 99,533. The company has a market capitalization of $218.58 million, a P/E ratio of -6.51 and a beta of 1.75. Xenon Pharmaceuticals has a 52-week low of $4.50 and a 52-week high of $15.92. The company has a debt-to-equity ratio of 0.16, a current ratio of 29.48 and a quick ratio of 29.48.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings results on Wednesday, March 6th. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.08. On average, equities analysts anticipate that Xenon Pharmaceuticals will post -1.62 earnings per share for the current year.

Institutional investors have recently modified their holdings of the company. Jefferies Group LLC bought a new stake in Xenon Pharmaceuticals in the third quarter valued at $4,298,000. D. E. Shaw & Co. Inc. bought a new stake in Xenon Pharmaceuticals in the fourth quarter valued at $828,000. venBio Select Advisor LLC boosted its holdings in Xenon Pharmaceuticals by 1.4% in the fourth quarter. venBio Select Advisor LLC now owns 2,400,000 shares of the biopharmaceutical company’s stock valued at $15,144,000 after acquiring an additional 32,782 shares in the last quarter. Scotia Capital Inc. boosted its holdings in Xenon Pharmaceuticals by 16.8% in the fourth quarter. Scotia Capital Inc. now owns 66,704 shares of the biopharmaceutical company’s stock valued at $421,000 after acquiring an additional 9,618 shares in the last quarter. Finally, JPMorgan Chase & Co. bought a new stake in Xenon Pharmaceuticals in the third quarter valued at $111,000. Hedge funds and other institutional investors own 69.15% of the company’s stock.

About Xenon Pharmaceuticals

Xenon Pharmaceuticals Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline include XEN496, A Kv7 potassium channel modulator that is phase II clinical trials for the treatment of KCNQ2 epilepsy; XEN1101, A Kv7 potassium channel modulator, which is in phase II clinical trail for the treatment of epilepsy.

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