Xenon Pharmaceuticals (NASDAQ:XENE) Announces Earnings Results

Xenon Pharmaceuticals (NASDAQ:XENE) released its earnings results on Monday. The biopharmaceutical company reported ($0.83) EPS for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.11, Zacks reports.

Xenon Pharmaceuticals Stock Performance

Shares of Xenon Pharmaceuticals stock traded up $0.83 during trading on Monday, reaching $35.85. The company’s stock had a trading volume of 1,176,905 shares, compared to its average volume of 475,182. The business’s fifty day moving average price is $34.59 and its 200-day moving average price is $38.28. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of -12.71 and a beta of 1.21. Xenon Pharmaceuticals has a one year low of $26.74 and a one year high of $46.00.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. William Blair reiterated an “outperform” rating on shares of Xenon Pharmaceuticals in a research report on Monday, May 5th. The Goldman Sachs Group lowered their price target on Xenon Pharmaceuticals from $60.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. StockNews.com lowered Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, May 2nd. Royal Bank of Canada reissued an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. Finally, Chardan Capital began coverage on Xenon Pharmaceuticals in a research report on Wednesday, May 7th. They issued a “buy” rating and a $55.00 target price for the company. One investment analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Xenon Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $56.22.

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.