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Xenon Pharmaceuticals (NASDAQ:XENE) Stock Price Crosses Below Two Hundred Day Moving Average - What's Next?

Xenon Pharmaceuticals logo with Medical background

Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Get Free Report) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $35.42 and traded as low as $33.06. Xenon Pharmaceuticals shares last traded at $34.70, with a volume of 492,450 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Needham & Company LLC reduced their target price on Xenon Pharmaceuticals from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Chardan Capital reiterated a "buy" rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday, May 13th. Wall Street Zen downgraded Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Royal Bank Of Canada cut their price objective on Xenon Pharmaceuticals from $58.00 to $55.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Finally, HC Wainwright restated a "buy" rating and issued a $53.00 price objective on shares of Xenon Pharmaceuticals in a report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Xenon Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus price target of $54.82.

View Our Latest Analysis on XENE

Xenon Pharmaceuticals Stock Down 1.3%

The firm has a market cap of $2.41 billion, a price-to-earnings ratio of -9.73 and a beta of 1.10. The business has a 50 day moving average price of $32.22 and a 200-day moving average price of $35.30.

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

Institutional Investors Weigh In On Xenon Pharmaceuticals

A number of hedge funds have recently bought and sold shares of XENE. Assetmark Inc. grew its stake in Xenon Pharmaceuticals by 9.7% during the 4th quarter. Assetmark Inc. now owns 21,585 shares of the biopharmaceutical company's stock valued at $846,000 after purchasing an additional 1,915 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Xenon Pharmaceuticals during the 4th quarter valued at approximately $797,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Xenon Pharmaceuticals by 17.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,274 shares of the biopharmaceutical company's stock valued at $756,000 after purchasing an additional 2,866 shares in the last quarter. Swiss National Bank grew its stake in Xenon Pharmaceuticals by 1.0% during the 4th quarter. Swiss National Bank now owns 126,600 shares of the biopharmaceutical company's stock valued at $4,963,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its stake in Xenon Pharmaceuticals by 18.6% during the 4th quarter. Teacher Retirement System of Texas now owns 19,083 shares of the biopharmaceutical company's stock valued at $748,000 after purchasing an additional 2,994 shares in the last quarter. Institutional investors and hedge funds own 95.45% of the company's stock.

About Xenon Pharmaceuticals

(Get Free Report)

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.

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