FY2024 EPS Forecast for Xenon Pharmaceuticals Cut by Analyst

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) – Equities researchers at Cantor Fitzgerald reduced their FY2024 EPS estimates for shares of Xenon Pharmaceuticals in a research report issued on Wednesday, November 13th. Cantor Fitzgerald analyst J. Schimmer now anticipates that the biopharmaceutical company will earn ($3.01) per share for the year, down from their prior forecast of ($2.87). Cantor Fitzgerald currently has a “Overweight” rating and a $65.00 target price on the stock. The consensus estimate for Xenon Pharmaceuticals’ current full-year earnings is ($3.13) per share.

A number of other equities analysts have also weighed in on XENE. William Blair raised Xenon Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price objective on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th. Wedbush reduced their price target on shares of Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Raymond James reissued an “outperform” rating and issued a $50.00 price target on shares of Xenon Pharmaceuticals in a research note on Thursday, October 10th. Finally, HC Wainwright restated a “buy” rating and set a $53.00 target price on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Xenon Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $57.45.

Xenon Pharmaceuticals Trading Down 4.6 %

XENE stock opened at $39.83 on Monday. Xenon Pharmaceuticals has a 12 month low of $28.10 and a 12 month high of $50.99. The firm has a market capitalization of $3.04 billion, a P/E ratio of -14.12 and a beta of 1.25. The firm has a 50 day moving average of $41.21 and a 200-day moving average of $40.34.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) EPS for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.01. During the same quarter in the previous year, the firm earned ($0.73) EPS.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vestcor Inc purchased a new stake in Xenon Pharmaceuticals during the third quarter valued at $327,000. Barclays PLC increased its position in Xenon Pharmaceuticals by 1,275.5% in the third quarter. Barclays PLC now owns 14,993 shares of the biopharmaceutical company’s stock worth $590,000 after buying an additional 13,903 shares in the last quarter. Y Intercept Hong Kong Ltd grew its stake in shares of Xenon Pharmaceuticals by 68.8% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 24,557 shares of the biopharmaceutical company’s stock valued at $967,000 after acquiring an additional 10,007 shares during the period. Wellington Management Group LLP lifted its holdings in Xenon Pharmaceuticals by 0.4% during the third quarter. Wellington Management Group LLP now owns 3,843,447 shares of the biopharmaceutical company’s stock valued at $151,317,000 after purchasing an additional 15,226 shares in the last quarter. Finally, Two Sigma Advisers LP raised its position in shares of Xenon Pharmaceuticals by 31.0% during the 3rd quarter. Two Sigma Advisers LP now owns 273,700 shares of the biopharmaceutical company’s stock valued at $10,776,000 after purchasing an additional 64,800 shares during the period. Institutional investors own 95.45% of the company’s stock.

About Xenon Pharmaceuticals

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.