Xenon Pharmaceuticals (NASDAQ:XENE) Stock Price Passes Above 50-Day Moving Average - What's Next?

Key Points

• Xenon Pharmaceuticals' stock price surpassed its 50-day moving average, trading as high as $40.36 before settling at $40.15.
• Analysts project an average target price of $53.30 for Xenon Pharmaceuticals, with multiple firms rating it as a "Buy" or "Outperform."
• The company recently reported a quarterly EPS of ($1.07), missing estimates, and now anticipates an EPS of -3.1 for the current year.

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Get Free Report) crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $36.22 and traded as high as $40.36. Xenon Pharmaceuticals shares last traded at $40.15, with a volume of 1,241,538 shares.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on XENE shares. Wedbush lifted their price objective on Xenon Pharmaceuticals from $42.00 to $43.00 and gave the stock an "outperform" rating in a report on Tuesday, August 12th. Chardan Capital reaffirmed a "buy" rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a report on Tuesday, August 12th. Wells Fargo & Company started coverage on Xenon Pharmaceuticals in a research report on Wednesday, September 3rd. They set an "overweight" rating and a $48.00 price target for the company. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a research report on Tuesday, September 2nd. Eleven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $53.30.

Xenon Pharmaceuticals Price Performance

The firm has a market cap of $3.10 billion, a PE ratio of -11.31 and a beta of 1.17. The stock has a 50-day moving average price of $36.22 and a 200 day moving average price of $33.97.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The biopharmaceutical company reported ($1.07) EPS for the quarter, missing analysts' consensus estimates of ($1.03) by ($0.04). During the same quarter last year, the firm earned ($0.75) earnings per share. As a group, equities research analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

Institutional Investors Weigh In On Xenon Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in XENE. Harbor Capital Advisors Inc. grew its position in shares of Xenon Pharmaceuticals by 13.6% in the first quarter. Harbor Capital Advisors Inc. now owns 56,591 shares of the biopharmaceutical company's stock valued at $1,899,000 after purchasing an additional 6,773 shares during the period. Assenagon Asset Management S.A. grew its position in Xenon Pharmaceuticals by 1.1% during the first quarter. Assenagon Asset Management S.A. now owns 241,206 shares of the biopharmaceutical company's stock valued at $8,092,000 after acquiring an additional 2,684 shares during the period. GF Fund Management CO. LTD. grew its position in Xenon Pharmaceuticals by 21.9% during the first 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 period. Bank of New York Mellon Corp grew its position in Xenon Pharmaceuticals by 439.0% during the first quarter. Bank of New York Mellon Corp now owns 251,147 shares of the biopharmaceutical company's stock valued at $8,426,000 after acquiring an additional 204,550 shares during the period. Finally, Mutual of America Capital Management LLC purchased a new stake in Xenon Pharmaceuticals during the first quarter valued at about $1,636,000. Hedge funds and other 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.

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