Equities Analysts Issue Forecasts for XENE FY2024 Earnings

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) – Analysts at Wedbush decreased their FY2024 earnings estimates for shares of Xenon Pharmaceuticals in a report issued on Wednesday, November 13th. Wedbush analyst L. Chico now expects that the biopharmaceutical company will post earnings per share of ($3.00) for the year, down from their previous estimate of ($2.91). Wedbush currently has a “Outperform” rating and a $49.00 target price on the stock. The consensus estimate for Xenon Pharmaceuticals’ current full-year earnings is ($3.10) per share. Wedbush also issued estimates for Xenon Pharmaceuticals’ Q4 2024 earnings at ($0.83) EPS, Q1 2025 earnings at ($0.84) EPS, Q2 2025 earnings at ($0.85) EPS, Q3 2025 earnings at ($0.86) EPS, Q4 2025 earnings at ($0.88) EPS, FY2025 earnings at ($3.44) EPS, FY2026 earnings at ($3.47) EPS, FY2027 earnings at ($0.56) EPS and FY2028 earnings at $4.20 EPS.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, beating the consensus estimate of ($0.82) by $0.01. During the same quarter in the prior year, the business posted ($0.73) EPS.

XENE has been the subject of several other reports. Royal Bank of Canada restated an “outperform” rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd. William Blair upgraded shares of Xenon Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Raymond James restated an “outperform” rating and set a $50.00 price target on shares of Xenon Pharmaceuticals in a report on Thursday, October 10th. HC Wainwright reaffirmed a “buy” rating and set a $53.00 price objective on shares of Xenon Pharmaceuticals in a research report on Wednesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price objective on shares of Xenon Pharmaceuticals in a research report on Wednesday. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $57.45.

Xenon Pharmaceuticals Price Performance

Shares of XENE opened at $39.83 on Friday. Xenon Pharmaceuticals has a one year low of $28.10 and a one year high of $50.99. The company has a 50-day moving average of $41.18 and a two-hundred day moving average of $40.36. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of -14.21 and a beta of 1.25.

Hedge Funds Weigh In On Xenon Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of XENE. BNP Paribas Financial Markets boosted its stake in Xenon Pharmaceuticals by 89.5% during the first quarter. BNP Paribas Financial Markets now owns 8,321 shares of the biopharmaceutical company’s stock worth $358,000 after buying an additional 3,931 shares in the last quarter. SG Americas Securities LLC boosted its stake in Xenon Pharmaceuticals by 9.5% during the first quarter. SG Americas Securities LLC now owns 20,366 shares of the biopharmaceutical company’s stock worth $877,000 after buying an additional 1,760 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Xenon Pharmaceuticals by 21.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 5,374 shares of the biopharmaceutical company’s stock worth $231,000 after buying an additional 946 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Xenon Pharmaceuticals by 2.2% during the first quarter. Russell Investments Group Ltd. now owns 178,099 shares of the biopharmaceutical company’s stock worth $7,667,000 after buying an additional 3,813 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in Xenon Pharmaceuticals by 12.0% during the first quarter. ProShare Advisors LLC now owns 5,286 shares of the biopharmaceutical company’s stock worth $228,000 after buying an additional 565 shares in the last quarter. Institutional investors own 95.45% of the company’s stock.

Xenon Pharmaceuticals Company Profile

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.