Xenon Pharmaceuticals (NASDAQ:XENE) Shares Pass Above 50-Day Moving Average - Here's What Happened

Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Get Free Report) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $40.40 and traded as high as $42.24. Xenon Pharmaceuticals shares last traded at $41.74, with a volume of 239,133 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. William Blair raised Xenon Pharmaceuticals to a "strong-buy" rating in a report on Friday, August 30th. HC Wainwright started coverage on Xenon Pharmaceuticals in a research note on Tuesday, October 1st. They set a "buy" rating and a $53.00 target price on the stock. Royal Bank of Canada reissued an "outperform" rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, September 3rd. Raymond James restated an "outperform" rating and set a $50.00 price objective on shares of Xenon Pharmaceuticals in a research note on Thursday, October 10th. Finally, Needham & Company LLC decreased their target price on shares of Xenon Pharmaceuticals from $62.00 to $60.00 and set a "buy" rating for the company in a research report on Monday, August 12th. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $57.45.

Xenon Pharmaceuticals Trading Up 0.1 %

The firm has a market capitalization of $3.15 billion, a P/E ratio of -15.47 and a beta of 1.25. The business's fifty day moving average is $40.44 and its 200 day moving average is $40.15.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.75) EPS for the quarter, missing analysts' consensus estimates of ($0.70) by ($0.05). During the same quarter in the previous year, the firm earned ($0.72) EPS. As a group, sell-side analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Several institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. acquired a new stake in Xenon Pharmaceuticals in the fourth quarter valued at approximately $91,000. BNP Paribas Financial Markets boosted its holdings in Xenon Pharmaceuticals by 89.5% in the first quarter. BNP Paribas Financial Markets now owns 8,321 shares of the biopharmaceutical company's stock worth $358,000 after purchasing an additional 3,931 shares in the last quarter. Capstone Investment Advisors LLC increased its position in Xenon Pharmaceuticals by 28.7% during the first quarter. Capstone Investment Advisors LLC now owns 11,402 shares of the biopharmaceutical company's stock worth $491,000 after buying an additional 2,541 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Xenon Pharmaceuticals during the first quarter worth $930,000. Finally, SG Americas Securities LLC lifted its position in shares of Xenon Pharmaceuticals by 9.5% in the first quarter. SG Americas Securities LLC now owns 20,366 shares of the biopharmaceutical company's stock worth $877,000 after buying an additional 1,760 shares during the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

About Xenon Pharmaceuticals

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.