Xenon Pharmaceuticals Share soars by + 102% in 1 session! Should You Rush To Buy Today?

Xenon Pharmaceuticals, a US clinical-stage biotechnology company, posted the biggest gain on the US stock market yesterday, gaining 102.56% at the close, against a depressed stock market.

Xenon took advantage of the announcement before the opening of positive results of a mid-term trial on XEN1101, its potential treatment in development for adult patients with focal epilepsy.

Good news for XEN1101 from Xenon Pharmaceuticals

Xenon logoIt shows that XEN1101 has a good chance of being an integral part of the next generation of anti-epileptic drugs. With increased efficacy and reduced side effects of this new drug, experts estimate that this new series of epilepsy drugs is expected to significantly grow the overall market, which is currently worth nearly $ 7 billion.

Several steps will still have to be taken before the drug from Xenon Pharmaceuticals can be marketed, however, yesterday’s announcements significantly increase the chances of this becoming a reality in the relatively short term, hence the stock’s explosive reaction to the course. from yesterday’s session.

Should you rush to buy Xenon Pharmaceuticals stock?

A stock that more than doubles in value in one sitting should always be viewed with suspicion by investors. Logic would indeed want that after such a rise, many investors cash in their profits, causing a correction.

However, this will not take away from the fact that yesterday’s announcements significantly improved the outlook for Xenon Phamaceuticals. Thus, the correction that could occur on Tuesday and / or over the next few days could provide an interesting buying opportunity.

Xenon Phamaceuticals Action

In addition, the impressive rise in Xenon shares yesterday could prompt you to take an interest in other biotechnology stocks. Indeed, what happened yesterday on Xenon stock is not unusual for biotech stocks, which are used to violently leaping or collapsing in the face of news related to clinical trials or regulatory approvals of drugs. or vaccines they develop.

How to invest in biotechnology stocks?

There are many tech stocks that you can easily invest in through online brokers such as eToro. About this broker, he notably offers the following biotechnological actions:

  • Vir Biotechnology
  • Adverum Biotechnologies
  • Sartorius Stedim Biotech SA
  • Sage Therapeutics
  • UniQure
  • CRISPR Therapeutics
  • Ocugen

If you are interested in investing in biotechnology stocks, the next step will be to find out about each of these stocks, and more particularly on the calendar of the next clinical trials and regulatory opinions for the drugs that these companies are developing, knowing that each of these dates will be a moment when the action concerned can fly away or collapse.

If you want to profit from biotech stocks while limiting risk through diversification, a biotech ETF, which brings together several biotech stocks, will be more suitable. The two best, SPDR S&P Biotech ETF and Ishares Nasdaq Biotechnology are also available from eToro.

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