For Xenon Pharmaceuticals Inc. [XENE], Analyst sees a rise to $43. What next?


Xenon Pharmaceuticals Inc. [NASDAQ: XENE] traded at a low on 06/23/22, posting a -8.62 loss after which it closed the day’ session at $31.71. The company report on June 22, 2022 that Xenon Pharmaceuticals Announces Pricing of $250.0 Million Public Offering.

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Xenon Pharmaceuticals Inc. (Nasdaq:XENE), a clinical stage biopharmaceutical company, today announced the pricing of its underwritten public offering of 7,868,854 common shares and, in lieu of common shares to certain investors, pre-funded warrants to purchase up to 327,868 common shares pursuant to its existing shelf registration statement. The common shares are being offered at a public offering price of $30.50 per common share and the pre-funded warrants are being offered at a price of $30.4999 per pre-funded warrant. The gross proceeds to Xenon from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Xenon, are expected to be approximately $250.0 million. In addition, Xenon has granted to the underwriters of the offering an option for a period of 30 days to purchase up to an additional 1,229,508 common shares at the public offering price, less the underwriting discounts and commissions. The offering is expected to close on or about June 27, 2022, subject to customary closing conditions.

Jefferies, J.P. Morgan, SVB Securities and Stifel are acting as joint book-running managers for the offering.

The results of the trading session contributed to over 4520957 shares changing hands. Over the past one week, the price volatility of Xenon Pharmaceuticals Inc. stands at 8.06% while the volatility over the past one month is 6.41%.

The market cap for XENE stock reached $1.59 billion, with 54.85 million shares outstanding and 49.55 million shares in the current float. Compared to the average trading volume of 491.78K shares, XENE reached a trading volume of 4520957 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Xenon Pharmaceuticals Inc. [XENE]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for XENE shares is $45.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on XENE stock is a recommendation set at 1.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

RBC Capital Mkts have made an estimate for Xenon Pharmaceuticals Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 28, 2021. While these analysts kept the previous recommendation, SVB Leerink raised their target price to Outperform. The new note on the price target was released on October 02, 2020, representing the official price target for Xenon Pharmaceuticals Inc. stock. Previously, the target price had yet another raise to $22, while Needham analysts kept a Buy rating on XENE stock.

The Average True Range (ATR) for Xenon Pharmaceuticals Inc. is set at 2.14, with the Price to Sales ratio for XENE stock in the period of the last 12 months amounting to 69.65. The Price to Book ratio for the last quarter was 3.21, with the Price to Cash per share for the same quarter was set at 10.74.

How has XENE stock performed recently?

Xenon Pharmaceuticals Inc. [XENE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.07. With this latest performance, XENE shares gained by 11.58% in over the last four-week period, additionally plugging by 7.67% over the last 6 months – not to mention a rise of 76.17% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for XENE stock in for the last two-week period is set at 56.14, with the RSI for the last a single of trading hit 57.37, and the three-weeks RSI is set at 54.57 for Xenon Pharmaceuticals Inc. [XENE]. The present Moving Average for the last 50 days of trading for this stock 29.68, while it was recorded at 31.72 for the last single week of trading, and 28.85 for the last 200 days.

Xenon Pharmaceuticals Inc. [XENE]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Xenon Pharmaceuticals Inc. [XENE] shares currently have an operating margin of -428.45. Xenon Pharmaceuticals Inc.’s Net Margin is presently recorded at -427.85.

Return on Equity for this stock declined to -21.87, with Return on Assets sitting at -20.73.

Xenon Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 68.40 and a Current Ratio set at 68.40.

Insider trade positions for Xenon Pharmaceuticals Inc. [XENE]

There are presently around $1,722 million, or 93.70% of XENE stock, in the hands of institutional investors. The top three institutional holders of XENE stocks are: AVORO CAPITAL ADVISORS LLC with ownership of 4,985,000, which is approximately 0% of the company’s market cap and around 0.40% of the total institutional ownership; FMR LLC, holding 3,833,476 shares of the stock with an approximate value of $133.02 million in XENE stocks shares; and DRIEHAUS CAPITAL MANAGEMENT LLC, currently with $114.53 million in XENE stock with ownership of nearly 5.674% of the company’s market capitalization.

Positions in Xenon Pharmaceuticals Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 68 institutional holders increased their position in Xenon Pharmaceuticals Inc. [NASDAQ:XENE] by around 6,305,515 shares. Additionally, 57 investors decreased positions by around 4,886,874 shares, while 25 investors held positions by with 38,432,424 shares. The mentioned changes placed institutional holdings at 49,624,813 shares, according to the latest SEC report filing. XENE stock had 20 new institutional investments in for a total of 2,685,073 shares, while 15 institutional investors sold positions of 423,263 shares during the same period.