Xenon Pharmaceuticals (NASDAQ:XENE) Shares Gap Up to $39.37

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) gapped up before the market opened on Tuesday . The stock had previously closed at $39.37, but opened at $40.50. Xenon Pharmaceuticals shares last traded at $39.76, with a volume of 12,532 shares.

Analyst Ratings Changes

XENE has been the subject of several research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a research note on Tuesday, September 3rd. William Blair raised Xenon Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Wedbush reduced their target price on shares of Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 target price on shares of Xenon Pharmaceuticals in a research report on Friday, August 9th. Finally, Needham & Company LLC decreased their price objective on shares of Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.20.

Xenon Pharmaceuticals Trading Up 0.3 %

The firm has a 50 day moving average of $40.38 and a two-hundred day moving average of $40.33. The stock has a market capitalization of $2.98 billion, a PE ratio of -14.53 and a beta of 1.25.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.05). During the same quarter last year, the firm posted ($0.72) earnings per share. Equities research analysts forecast that Xenon Pharmaceuticals Inc. will post -3.16 EPS for the current year.

Institutional Trading of Xenon Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. Parallel Advisors LLC increased its stake in shares of Xenon Pharmaceuticals by 51.2% during the 4th quarter. Parallel Advisors LLC now owns 1,125 shares of the biopharmaceutical company’s stock worth $52,000 after purchasing an additional 381 shares in the last quarter. PNC Financial Services Group Inc. purchased a new position in Xenon Pharmaceuticals during the fourth quarter worth $91,000. 17 Capital Partners LLC acquired a new position in shares of Xenon Pharmaceuticals in the first quarter worth $122,000. Quarry LP lifted its position in shares of Xenon Pharmaceuticals by 207.7% in the second quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock valued at $156,000 after acquiring an additional 2,700 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in shares of Xenon Pharmaceuticals in the first quarter valued at $195,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

About Xenon Pharmaceuticals

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 epileptic encephalopathy; and XEN1101, a Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.