Xenon Pharmaceuticals Inc., a clinical-stage biopharmaceutical company, engages in developing therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN496, A Kv7 potassium channel opener that is Phase III clinical trials for the treatment of KCNQ2 developmental and epilepsy encephalopathy; and XEN1101, A Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders. The company's product candidates also comprise NBI-921352, a selective Nav1.6 sodium channel inhibitor that is in Phase II clinical trials for the treatment of SCN8A developmental and epileptic encephalopathy, and other potential indications, including adult focal epilepsy; and XEN007, A central nervous system-acting calcium channel modulator, which is in Phase II clinical trials. It has a license and collaboration agreement with the Neurocrine Biosciences, Inc. to develop treatments for epilepsy; and with Flexion Therapeutics, Inc. to develop PCRX301 (XEN402, a Nav1.7 inhibitor) for the treatment of post-operative pain. Xenon Pharmaceuticals Inc. was incorporated in 1996 and is headquartered in Burnaby, Canada.
Xenon Pharmaceuticals Stock Up 6.0 %
Shares of NASDAQ:XENE traded up $2.19 during midday trading on Friday, hitting $38.47. The company had a trading volume of 1,181,618 shares, compared to its average volume of 349,942. Xenon Pharmaceuticals has a twelve month low of $14.65 and a twelve month high of $39.82. The business has a 50-day simple moving average of $31.44 and a two-hundred day simple moving average of $30.62.
Xenon Pharmaceuticals (NASDAQ:XENE - Get Rating) last announced its quarterly earnings data on Tuesday, May 10th. The biopharmaceutical company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.03. Xenon Pharmaceuticals had a negative net margin of 360.80% and a negative return on equity of 20.94%. The firm had revenue of $8.77 million during the quarter, compared to analysts' expectations of $9.22 million. During the same quarter last year, the business earned ($0.42) earnings per share. Equities research analysts anticipate that Xenon Pharmaceuticals will post -2.07 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on XENE shares. StockNews.com raised shares of Xenon Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Wednesday, July 27th. Wedbush lowered their target price on shares of Xenon Pharmaceuticals from $47.00 to $41.00 and set an "outperform" rating on the stock in a report on Monday, June 27th. Finally, JPMorgan Chase & Co. started coverage on shares of Xenon Pharmaceuticals in a report on Thursday, July 21st. They issued an "overweight" rating and a $55.00 target price on the stock. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Xenon Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average target price of $45.33.