Healthcare Stocks on the Move Monday: XENE, CLNN, ADVM, NGENF, OWLT, RGNX, ONPH, VERA

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Monday, October 04, 2021 02:18 PM | InvestorsObserver Analysts

These Healthcare stocks are trading higher:

-Xenon Pharmaceuticals Inc (XENE) stock is trading at $29.09, a gain of $13.49, or 85.74%, on high volume. Xenon Pharmaceuticals Inc gets a Sentiment Score of Bullish from InvestorsObserver and receives an average analyst recommendation of Strong Buy with a price target of $27.17.

-Clene Inc. (CLNN) stock is trading at $7.50, an increase of $0.83, or 12.44%, on moderate volume. Clene Inc gets a Sentiment Score of Bearish from InvestorsObserver and receives an average analyst recommendation of Strong Buy with a price target of $22.20.

-Adverum Biotechnologies Inc (ADVM) stock is trading at $2.44, a gain of $0.26, or 12.24%, on high volume. Adverum Biotechnlgs gets a Sentiment Score of Very Bearish from InvestorsObserver and receives an average analyst recommendation of Buy with a price target of $5.00. Adverum Biotechnlgs next reports earnings on November 3.

-NervGen Pharma Corp (NGENF) stock is trading at $2.03, an increase of $0.2, or 10.77%, on high volume. Nervgen Pharma Corp gets a Sentiment Score of Neutral from InvestorsObserver.

Find the top stocks in the Healthcare Sector here.

These Healthcare stocks are trading lower:

-Regenxbio Inc (RGNX) stock is trading at $32.28, a drop of $8, or 19.82%, on high volume. Regenxbio Inc gets a Sentiment Score of Bearish from InvestorsObserver and receives an average analyst recommendation of Strong Buy with a price target of $65.63.

-Oncology Pharma Inc (ONPH) stock is trading at $7.72, a loss of $1.63, or 17.43%, on moderate volume. Oncology Pharma Inc gets a Sentiment Score of Very Bearish from InvestorsObserver.

-Vera Therapeutics Inc (VERA) stock is trading at $15.52, a drop of $2.66, or 14.63%, on low volume. Vera Therapeutics Inc Cl A gets a Sentiment Score of Bullish from InvestorsObserver and receives an average analyst recommendation of Strong Buy with a price target of $26.00.

Find the top stocks in the Healthcare Sector here.

Xenon Pharmaceuticals (NASDAQ:XENE) Sees Unusually-High Trading Volume on Analyst Upgrade

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Xenon Pharmaceuticals Inc. (NASDAQ:XENE) shares saw an uptick in trading volume on Tuesday after Needham & Company LLC raised their price target on the stock from $25.00 to $48.00. Needham & Company LLC currently has a buy rating on the stock. 88,540 shares changed hands during trading, a decline of 83% from the previous session’s volume of 523,504 shares.The stock last traded at $31.00 and had previously closed at $31.50.

A number of other equities analysts also recently weighed in on the company. TheStreet downgraded Xenon Pharmaceuticals from a “c-” rating to a “d+” rating in a research report on Wednesday, September 22nd. Guggenheim boosted their price target on Xenon Pharmaceuticals from $30.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Xenon Pharmaceuticals has an average rating of “Buy” and a consensus target price of $40.33.

Several institutional investors have recently bought and sold shares of XENE. Swiss National Bank grew its position in shares of Xenon Pharmaceuticals by 2.4% in the first quarter. Swiss National Bank now owns 64,000 shares of the biopharmaceutical company’s stock valued at $1,146,000 after purchasing an additional 1,500 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in shares of Xenon Pharmaceuticals in the first quarter valued at approximately $7,492,000. JPMorgan Chase & Co. grew its position in shares of Xenon Pharmaceuticals by 11,115.5% in the first quarter. JPMorgan Chase & Co. now owns 6,505 shares of the biopharmaceutical company’s stock valued at $116,000 after purchasing an additional 6,447 shares during the last quarter. Northern Trust Corp grew its position in shares of Xenon Pharmaceuticals by 8.5% in the first quarter. Northern Trust Corp now owns 50,562 shares of the biopharmaceutical company’s stock valued at $904,000 after purchasing an additional 3,940 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Xenon Pharmaceuticals by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 958,153 shares of the biopharmaceutical company’s stock valued at $17,152,000 after purchasing an additional 8,915 shares during the last quarter. 81.51% of the stock is currently owned by institutional investors.

The firm has a market capitalization of $1.24 billion, a P/E ratio of -20.72 and a beta of 1.36. The firm has a 50 day moving average of $17.34 and a 200-day moving average of $17.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings results on Wednesday, August 11th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.02). Xenon Pharmaceuticals had a negative net margin of 323.04% and a negative return on equity of 27.60%. Equities analysts expect that Xenon Pharmaceuticals Inc. will post -1.71 earnings per share for the current fiscal year.

About Xenon Pharmaceuticals (NASDAQ:XENE)

Xenon Pharmaceuticals, Inc is a clinical stage biopharmaceutical company. It develops therapeutics to improve the lives of patients with neurological disorders, including rare central nervous system (CNS) conditions. The company’s products include XEN496, XEN1101, XEN901 and XEN007. Xenon Pharmaceuticals was founded by Simon Neil Pimstone, Johannes J.

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Pre-Open Stock Movers 10/04: (XENE) (ADVM) (OSUR) Higher; (MRNA) (NEO) (IIVI) Lower (more…)

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Today’s Pre-Open Stock Movers:

Xenon Pharmaceuticals Inc. (Nasdaq: XENE) 73% HIGHER; reported positive topline results from the Phase 2b X-TOLE clinical trial, which evaluated the clinical efficacy, safety, and tolerability of XEN1101 – a differentiated Kv7 potassium channel modulator – administered as adjunctive treatment in adult patients with focal epilepsy. The trial met its primary efficacy endpoint with XEN1101 demonstrating a statistically significant and dose-dependent reduction from baseline in monthly (defined as 28 days) focal seizure frequency when compared to placebo (monotonic dose response; p<0.001). Additional primary and secondary measures included a pairwise comparison of each active dose to placebo and a responder analysis with the proportion of patients who achieved a 50% or greater reduction in monthly focal seizure frequency from baseline.

Adverum Biotechnologies, Inc. (Nasdaq: ADVM) 14.7% HIGHER; announced new long-term data from the OPTIC clinical trial of ADVM-022 single, in-office intravitreal (IVT) injection gene therapy in patients requiring frequent anti-VEGF injections for their neovascular or wet age-related macular degeneration (wet AMD). Safety and efficacy data from patients followed through 2 years post injection are being presented at the Retina Society’s 54th Annual Scientific Meeting in Chicago, Illinois. The presentation is available on the Publications page in the Pipeline section of Adverum’s website.

OraSure Technologies, Inc. (NASDAQ: OSUR) 7.5% HIGHER; has been awarded a $109 million contract from the U.S. Department of Defense (DOD), in coordination with the Department of Health and Human Services (HHS), to build additional manufacturing capacity in the United States for InteliSwab COVID-19 rapid tests as part of the nations pandemic preparedness plan.

Guardant Health (NASDAQ: GH) 7% HIGHER; had decided not to pursue a potential acquisition of NeoGenomics (NASDAQ: NEO), according to Bloomberg, citing people familiar with the matter. It decided against the deal over the weekend.

Moderna, Inc. (NASDAQ: MRNA) 5.8% LOWER; continued pressure after positive clinical trial results for Merck & Co’s experimental antiviral COVID-19 pill.

Perion Network Ltd. (NASDAQ: PERI) 4.8% HIGHER; announced today the acquisition of Vidazoo, a leading video technology company that enables both advertisers and publishers to deliver high impact content and advertising to consumers. Perion acquired Vidazoo for a total amount of $93.5 million, consisting of $35.0 million in cash upon closing with an additional maximum of $58.5 million structured as a performance earn-out, if certain EBITDA-based targets are achieved.

NeoGenomics (NASDAQ: NEO) 3.8% LOWER; Guardant Health (NASDAQ: GH) had decided not to pursue a potential acquisition of NeoGenomics (NASDAQ: NEO), according to Bloomberg, citing people familiar with the matter. It decided against the deal over the weekend.

Merck & Co’s (NYSE: MRK) 3.6% HIGHER; adds to Friday’s gains following positive news on its experimental antiviral COVID-19 pill.

DuPont (NYSE: DD) 2.7% HIGHER; JPMorgan upgraded from Neutral to Overweight with a price target of $85.00 (from $84.00).

Tesla (NASDAQ: TSLA) 2.7% HIGHER; announced that in the third quarter they produced approximately 238,000 vehicles and delivered over 240,000 vehicles. Wall Street was expecting around 220,000 deliveries.

Southwest (NYSE: LUV) 2.2% HIGHER; Barclays upgraded from Equalweight to Overweight with a price target of $75.00.

II-VI, Inc. (NASDAQ: IIVI) 2.6% LOWER; Barclays downgraded from Equalweight to Underweight with a price target of $56.00.