Xenon Pharmaceuticals (NASDAQ:XENE) Reaches New 12-Month High at $36.73

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on XENE. Wedbush dropped their price target on Xenon Pharmaceuticals from $47.00 to $41.00 and set an “outperform” rating on the stock in a research report on Monday, June 27th. StockNews.com raised Xenon Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, July 27th. Finally, JPMorgan Chase & Co. began coverage on Xenon Pharmaceuticals in a research report on Thursday, July 21st. They issued an “overweight” rating and a $55.00 price target on the stock. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Xenon Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $45.33.

Xenon Pharmaceuticals Trading Up 6.0 %

The company has a market capitalization of $2.04 billion, a PE ratio of -21.49 and a beta of 1.53. The business’s fifty day moving average is $31.44 and its two-hundred day moving average is $30.63.

Xenon Pharmaceuticals (NASDAQ:XENEGet Rating) last announced its quarterly earnings data on Tuesday, May 10th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $8.77 million during the quarter, compared to analyst estimates of $9.22 million. During the same period in the previous year, the business earned ($0.42) EPS. As a group, equities research analysts anticipate that Xenon Pharmaceuticals Inc. will post -2.07 EPS for the current year.

Institutional Investors Weigh In On Xenon Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the stock. Scotia Capital Inc. raised its stake in Xenon Pharmaceuticals by 9.5% during the 2nd quarter. Scotia Capital Inc. now owns 37,474 shares of the biopharmaceutical company’s stock valued at $1,140,000 after buying an additional 3,258 shares during the last quarter. Integral Health Asset Management LLC purchased a new stake in Xenon Pharmaceuticals during the 2nd quarter valued at $2,959,000. Candriam S.C.A. raised its stake in Xenon Pharmaceuticals by 42.8% during the 2nd quarter. Candriam S.C.A. now owns 863,140 shares of the biopharmaceutical company’s stock valued at $26,255,000 after buying an additional 258,886 shares during the last quarter. Chartwell Investment Partners LLC purchased a new stake in Xenon Pharmaceuticals during the 2nd quarter valued at $654,000. Finally, Tekla Capital Management LLC purchased a new stake in Xenon Pharmaceuticals during the 2nd quarter valued at $904,000.

Xenon Pharmaceuticals Company Profile

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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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