Guggenheim Securities Initiates Coverage on Xenon Pharmaceuticals Inc to Buy

Guggenheim Securities Initiates Coverage on Xenon Pharmaceuticals Inc(NASDAQ:XENE). The shares have been rated Buy. The rating by Guggenheim Securities was issued on Sep 26, 2016.

Xenon Pharmaceuticals Inc (XENE) shares turned negative on Thursdays trading session with the shares closing down -0.02 points or -0.25% at a volume of 31,995. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $8.02. The peak price level was also seen at $8.02 while the days lowest was $7.95. Finally the shares closed at $8. The 52-week high of the shares is $10.5 while the 52-week low is $5.6501. According to the latest information available, the market cap of the company is $115 M.

Xenon Pharmaceuticals Inc(XENE) last announced its earnings results on Aug 3, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $413.00K. Analysts had an estimated revenue of $2.25M. Earnings per share were $-0.42. Analysts had estimated an EPS of $-0.48.

Several Insider Transactions has been reported to the SEC. On Aug 23, 2016, Frank A Holler (director) sold 11,938 shares at $7.65 per share price.Also, On Jun 28, 2016, Ian Mortimer (CFO) purchased 5,300 shares at $6.20 per share price.On Sep 24, 2015, Y. Paul Goldberg (VP of Clinical Development) sold 22,149 shares at $8.98 per share price, according to the Form-4 filing with the securities and exchange commission.

Xenon Pharmaceuticals Inc. is a clinical-stage biopharmaceutical company discovering and developing a pipeline of differentiated therapeutics for orphan indications. The Company has built a core platform Extreme Genetics enabling the discovery of validated drug targets by studying rare human diseases with extreme traits including diseases caused by mutations in ion channels known as channelopathies. Its product pipeline includes Glybera which is a gene therapy approved in the EU for the treatment of patients with the orphan lipid disorder LPLD; TV-45070 which is a small-molecule inhibitor of the sodium channel Nav1.7; GDC-0276 which is a selective oral Nav1.7 small-molecule inhibitor being developed for the treatment of pain and XEN801 which is a selective small molecule inhibitor of SCD1 being developed for the treatment of dermatological disorders. FDA has granted fast track designations to TV-45070 for EM and to Glybera for LPLD and received orphan drug designation.

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