Xenon Pharmaceuticals (NASDAQ:XENE) Shares Gap Down – What’s Next?

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) shares gapped down prior to trading on Monday . The stock had previously closed at $39.83, but opened at $38.86. Xenon Pharmaceuticals shares last traded at $39.13, with a volume of 109,437 shares traded.

Analyst Ratings Changes

XENE has been the subject of several research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 target price on shares of Xenon Pharmaceuticals in a research note on Wednesday, November 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $65.00 price objective on shares of Xenon Pharmaceuticals in a research note on Friday, August 9th. Raymond James restated an “outperform” rating and issued a $50.00 price target on shares of Xenon Pharmaceuticals in a research report on Thursday, October 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd. Finally, Wedbush reduced their price objective on shares of Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Xenon Pharmaceuticals currently has an average rating of “Buy” and an average target price of $57.45.

Xenon Pharmaceuticals Trading Down 3.3 %

The business has a 50 day moving average price of $41.21 and a 200-day moving average price of $40.32. The company has a market cap of $2.94 billion, a P/E ratio of -14.12 and a beta of 1.25.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) EPS for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.01. During the same period in the prior year, the firm posted ($0.73) EPS. On average, sell-side analysts expect that Xenon Pharmaceuticals Inc. will post -3.13 earnings per share for the current year.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Institutional investors have recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in shares of Xenon Pharmaceuticals by 174.7% during the third quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 641 shares in the last quarter. nVerses Capital LLC bought a new stake in Xenon Pharmaceuticals in the 3rd quarter valued at about $102,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Xenon Pharmaceuticals by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company’s stock worth $106,000 after purchasing an additional 487 shares in the last quarter. Quarry LP increased its holdings in shares of Xenon Pharmaceuticals by 207.7% during the second quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock worth $156,000 after purchasing an additional 2,700 shares during the period. Finally, EntryPoint Capital LLC acquired a new position in Xenon Pharmaceuticals during the first quarter valued at approximately $195,000. 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.