Xenon Pharmaceuticals (NASDAQ:XENE) Lowered to "Sell" Rating by Wall Street Zen

Wall Street Zen downgraded shares of Xenon Pharmaceuticals (NASDAQ:XENE - Free Report) from a hold rating to a sell rating in a report released on Wednesday.

Several other research firms have also commented on XENE. Royal Bank of Canada reduced their price objective on Xenon Pharmaceuticals from $58.00 to $55.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Evercore ISI began coverage on shares of Xenon Pharmaceuticals in a report on Wednesday, May 14th. They issued an "outperform" rating and a $55.00 target price for the company. Chardan Capital reaffirmed a "buy" rating and issued a $55.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, May 13th. Wells Fargo & Company dropped their target price on shares of Xenon Pharmaceuticals from $50.00 to $47.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Finally, William Blair reaffirmed an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Monday, May 5th. One analyst has rated the stock with a sell rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $54.82.

Xenon Pharmaceuticals Price Performance

Shares of NASDAQ:XENE traded down $0.74 during midday trading on Wednesday, hitting $29.75. The company had a trading volume of 944,149 shares, compared to its average volume of 523,682. The company has a market cap of $2.28 billion, a price-to-earnings ratio of -10.55 and a beta of 1.21. Xenon Pharmaceuticals has a 12-month low of $26.74 and a 12-month high of $46.00. The company has a fifty day moving average of $33.52 and a two-hundred day moving average of $37.35.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The biopharmaceutical company reported ($0.83) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.07. The company had revenue of $7.50 million during the quarter, compared to analysts' expectations of $1.64 million. During the same quarter last year, the company earned ($0.62) earnings per share. Research analysts expect that Xenon Pharmaceuticals will post -3.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. lifted its holdings in shares of Xenon Pharmaceuticals by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 1,952 shares of the biopharmaceutical company's stock valued at $65,000 after acquiring an additional 351 shares during the last quarter. Natixis Advisors LLC lifted its holdings in shares of Xenon Pharmaceuticals by 1.9% in the 1st quarter. Natixis Advisors LLC now owns 24,010 shares of the biopharmaceutical company's stock valued at $806,000 after acquiring an additional 456 shares during the last quarter. Occudo Quantitative Strategies LP lifted its holdings in shares of Xenon Pharmaceuticals by 5.8% in the 4th quarter. Occudo Quantitative Strategies LP now owns 11,441 shares of the biopharmaceutical company's stock valued at $448,000 after acquiring an additional 630 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Xenon Pharmaceuticals by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 69,529 shares of the biopharmaceutical company's stock valued at $2,726,000 after acquiring an additional 720 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of Xenon Pharmaceuticals by 39.8% in the 4th quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company's stock valued at $107,000 after acquiring an additional 780 shares during the last quarter. Institutional investors own 95.45% of the company's stock.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals Inc, a neuroscience-focused biopharmaceutical company, engages in the development of therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN1101, a novel and potent Kv7 potassium channel opener, which is in Phase 3 clinical trials for the treatment of epilepsy and other neurological disorders.