Xenon Pharmaceuticals (NASDAQ:XENE) Stock Crosses Below 200 Day Moving Average of $41.62

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) shares passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $41.62 and traded as low as $39.53. Xenon Pharmaceuticals shares last traded at $40.30, with a volume of 183,370 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on XENE. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 target price on shares of Xenon Pharmaceuticals in a research note on Friday, August 9th. Wedbush lowered their price objective on Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $55.00 price objective on shares of Xenon Pharmaceuticals in a report on Tuesday, June 18th. Needham & Company LLC decreased their target price on Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Finally, Citigroup dropped their price target on shares of Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $58.78.

Xenon Pharmaceuticals Price Performance

The company has a market cap of $3.04 billion, a PE ratio of -14.89 and a beta of 1.26. The stock has a 50 day simple moving average of $40.29 and a two-hundred day simple moving average of $41.56.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.05). During the same quarter in the previous year, the firm posted ($0.72) EPS. As a group, equities analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.16 EPS for the current fiscal year.

Institutional Trading of Xenon Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in XENE. Parallel Advisors LLC lifted its stake in shares of Xenon Pharmaceuticals by 51.2% in the 4th quarter. Parallel Advisors LLC now owns 1,125 shares of the biopharmaceutical company’s stock worth $52,000 after acquiring an additional 381 shares during the period. PNC Financial Services Group Inc. acquired a new stake in Xenon Pharmaceuticals in the fourth quarter valued at about $91,000. 17 Capital Partners LLC purchased a new stake in Xenon Pharmaceuticals in the 1st quarter valued at approximately $122,000. Quarry LP raised its stake in shares of Xenon Pharmaceuticals by 207.7% during the 2nd quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock worth $156,000 after buying an additional 2,700 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in shares of Xenon Pharmaceuticals in the first quarter valued at approximately $195,000. 95.45% of the stock is owned by hedge funds and other institutional investors.

About Xenon Pharmaceuticals

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 epileptic encephalopathy; and XEN1101, a Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.