Xenon Pharmaceuticals (NASDAQ:XENE) Stock Price Crosses Above 50 Day Moving Average – Time to Sell?

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) passed above its fifty day moving average during trading on Monday . The stock has a fifty 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.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Xenon Pharmaceuticals in a report on Friday, August 9th. HC Wainwright assumed coverage on shares of Xenon Pharmaceuticals in a report on Tuesday, October 1st. They set a “buy” rating and a $53.00 price objective for the company. Needham & Company LLC reduced their price objective on shares of Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating for the company in a report on Monday, August 12th. 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 report on Friday, August 9th. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $57.45.

Xenon Pharmaceuticals Trading Up 0.3 %

The stock has a market capitalization of $3.16 billion, a P/E ratio of -15.46 and a beta of 1.25. The firm’s fifty day moving average is $40.54 and its 200-day moving average is $40.16.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.05). During the same quarter in the previous year, the business posted ($0.72) EPS. Equities research analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current year.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Driehaus Capital Management LLC increased its position in Xenon Pharmaceuticals by 2.3% in the 2nd quarter. Driehaus Capital Management LLC now owns 4,419,472 shares of the biopharmaceutical company’s stock valued at $172,315,000 after acquiring an additional 97,732 shares in the last quarter. Capital International Investors grew its position in shares of Xenon Pharmaceuticals by 0.8% during the 1st quarter. Capital International Investors now owns 2,475,859 shares of the biopharmaceutical company’s stock worth $106,586,000 after buying an additional 20,176 shares during the period. Affinity Asset Advisors LLC grew its position in shares of Xenon Pharmaceuticals by 18.7% during the 2nd quarter. Affinity Asset Advisors LLC now owns 994,227 shares of the biopharmaceutical company’s stock worth $38,765,000 after buying an additional 156,840 shares during the period. Lord Abbett & CO. LLC grew its position in shares of Xenon Pharmaceuticals by 24.7% during the 1st quarter. Lord Abbett & CO. LLC now owns 895,196 shares of the biopharmaceutical company’s stock worth $38,539,000 after buying an additional 177,224 shares during the period. Finally, Samlyn Capital LLC grew its position in shares of Xenon Pharmaceuticals by 61.5% during the 2nd quarter. Samlyn Capital LLC now owns 639,685 shares of the biopharmaceutical company’s stock worth $24,941,000 after buying an additional 243,489 shares during the period. Institutional investors and hedge funds 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.