Xenon Pharmaceuticals (NASDAQ:XENE) Sets New 52-Week High at $36.73

Xenon Pharmaceuticals Inc. (NASDAQ:XENEGet Rating)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $36.73 and last traded at $36.59, with a volume of 8146 shares trading hands. The stock had previously closed at $33.65.

Analyst Ratings Changes

Several research firms recently issued reports on XENE. Wedbush dropped their price objective on Xenon Pharmaceuticals from $47.00 to $41.00 and set an “outperform” rating for the company in a research note on Monday, June 27th. JPMorgan Chase & Co. began coverage on Xenon Pharmaceuticals in a research report on Thursday, July 21st. They set an “overweight” rating and a $55.00 price target on the stock. Finally, StockNews.com upgraded Xenon Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, July 27th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $45.33.

Xenon Pharmaceuticals Stock Up 6.0 %

The stock has a market cap of $2.04 billion, a PE ratio of -21.49 and a beta of 1.53. The company has a fifty day moving average price of $31.44 and a 200 day moving average price of $30.63.

Xenon Pharmaceuticals (NASDAQ:XENEGet Rating) last released its quarterly earnings data on Tuesday, May 10th. The biopharmaceutical company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.03. The firm had revenue of $8.77 million for the quarter, compared to the consensus estimate of $9.22 million. Xenon Pharmaceuticals had a negative return on equity of 20.94% and a negative net margin of 360.80%. During the same quarter in the previous year, the business earned ($0.42) earnings per share. As a group, research analysts predict that Xenon Pharmaceuticals Inc. will post -2.07 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. BNP Paribas Arbitrage SA increased its holdings in Xenon Pharmaceuticals by 1,567.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,334 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 1,254 shares during the period. Advisors Asset Management Inc. purchased a new position in Xenon Pharmaceuticals during the 1st quarter valued at about $66,000. JPMorgan Chase & Co. increased its holdings in Xenon Pharmaceuticals by 33.4% during the 1st quarter. JPMorgan Chase & Co. now owns 6,371 shares of the biopharmaceutical company’s stock valued at $194,000 after purchasing an additional 1,596 shares during the period. ProShare Advisors LLC purchased a new position in Xenon Pharmaceuticals during the 4th quarter valued at about $227,000. Finally, Victory Capital Management Inc. purchased a new position in Xenon Pharmaceuticals during the 4th quarter valued at about $236,000.

About Xenon Pharmaceuticals

(Get Rating)

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.

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