Q2 STOCKS TO BUY

Xenon Pharmaceuticals Stock Clocks Fresh High on on NBIX Partnership

The firm will receive $50 million up front as part of the agreement

Digital Content Manager
Dec 2, 2019 at 9:56 AM
facebook X logo linkedin


The shares of Canada-based biotech Xenon Pharmaceuticals Inc (NASDAQ:XENE) are skyrocketing this morning, up 8.4% at $12.83, pacing for a new 14-month high. This pop comes after the firm said it plans to partner with Neurocrine Biosciences (NBIX) to develop a new treatments for epilepsy. Xenon will receive $50 million upfront, and $25 million upon acceptance from the Food and Drug Administration (FDA) as part of the agreement. 

Even before today's pop, XENE was seen shooting up the charts, adding 38.5% in November and snapping its five-month losing streak, thanks in part to a major surge late in the month. And while the equity ran out of steam right around the $12.50 region, today it's soaring past the brief ceiling, continuing its long-term move higher on the charts.

Analysts have had high hopes for the drugmaker, with all four in coverage calling it a "strong buy." What's more, the consensus 12-month target price of $21.25 represents a level XENE hasn't touched since 2015. 

Despite this positive price action, short interest has risen 17.5% in the last reporting period. It would take two weeks to buy back all these bearish bets at Xenon's average pace of trading too, which could push the equity higher, should some of these bears begin to hit the exits. 

 
 

Which of These SUB-$5 Stocks Could 26x From Here? (AD)

He called a rare 11x on Tesla…

Then he called a 26x on Workhorse…

Then an even rarer 35x on Nio Inc…

Now Tim Bohen says these 5 tiny “America First” stocks are next up in 2025.

They’re trading for less than $5 right now.

But thanks to Elon & Trump’s new alliance…

They could be off to the races in Trump’s first 100 days.

And right now for a limited time…

You can get the names & tickers for just $1 here. (AD)

GRAND SLAM COUNTDOWN

 
 

Featured Articles from Trusted Partners:

🚀 One Stock Pick Could Change Everything in 2025
What if one stock pick could define your success next year? Get 10 expert-vetted stocks set for 2025—plus 5 bonus picks to watch now. Get the Report →

🆕 New Options Need New Trading Strategies
Zero-DTE options are the newest (and hottest) options to trade.  Professional traders have rushed into the market and are making a mint.  Don’t get left behind - learn all about these options, how to trade them, market setups to profit from, plus much more. Download now →

👀 Revealed: 3 Defensive Stocks for Your Portfolio
Worried about the market? This free report reveals 3 under-the-radar defensive stocks for uncertain times in any kind of economy.

 

 
 

FREE Report Download

 

Follow us on X, Follow us on Twitter