FY2024 Earnings Forecast for XENE Issued By Leerink Partnrs

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) – Stock analysts at Leerink Partnrs dropped their FY2024 earnings per share estimates for shares of Xenon Pharmaceuticals in a research note issued on Tuesday, November 12th. Leerink Partnrs analyst M. Goodman now forecasts that the biopharmaceutical company will post earnings of ($3.10) per share for the year, down from their previous estimate of ($3.00). The consensus estimate for Xenon Pharmaceuticals’ current full-year earnings is ($3.10) per share. Leerink Partnrs also issued estimates for Xenon Pharmaceuticals’ Q4 2024 earnings at ($0.92) EPS, FY2025 earnings at ($2.85) EPS, FY2026 earnings at ($3.85) EPS, FY2027 earnings at ($2.65) EPS and FY2028 earnings at ($2.05) EPS.

Several other equities research analysts have also recently weighed in on XENE. HC Wainwright reissued a “buy” rating and set a $53.00 target price on shares of Xenon Pharmaceuticals in a research note on Wednesday. William Blair raised Xenon Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Needham & Company LLC restated a “buy” rating and set a $60.00 target price on shares of Xenon Pharmaceuticals in a research report on Wednesday. Wedbush cut their target price on shares of Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 price objective on shares of Xenon Pharmaceuticals in a research report on Friday, August 9th. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $57.45.

Xenon Pharmaceuticals Stock Performance

Xenon Pharmaceuticals stock opened at $39.83 on Friday. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of -14.21 and a beta of 1.25. Xenon Pharmaceuticals has a 52-week low of $28.10 and a 52-week high of $50.99. The firm has a 50 day moving average price of $41.18 and a two-hundred day moving average price of $40.36.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.01. During the same period in the prior year, the company earned ($0.73) EPS.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Several hedge funds have recently modified their holdings of the company. FMR LLC lifted its position in shares of Xenon Pharmaceuticals by 2.2% during the 3rd quarter. FMR LLC now owns 6,917,684 shares of the biopharmaceutical company’s stock worth $272,349,000 after buying an additional 149,511 shares in the last quarter. Driehaus Capital Management LLC lifted its position in shares of Xenon Pharmaceuticals by 2.3% during the 2nd quarter. Driehaus Capital Management LLC now owns 4,419,472 shares of the biopharmaceutical company’s stock worth $172,315,000 after buying an additional 97,732 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Xenon Pharmaceuticals by 0.4% during the 3rd quarter. Wellington Management Group LLP now owns 3,843,447 shares of the biopharmaceutical company’s stock worth $151,317,000 after buying an additional 15,226 shares in the last quarter. Braidwell LP lifted its position in shares of Xenon Pharmaceuticals by 5.7% during the 3rd quarter. Braidwell LP now owns 2,707,255 shares of the biopharmaceutical company’s stock worth $106,585,000 after buying an additional 146,682 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of Xenon Pharmaceuticals by 144.2% during the 3rd quarter. Janus Henderson Group PLC now owns 2,552,392 shares of the biopharmaceutical company’s stock worth $100,506,000 after buying an additional 1,507,135 shares in the last quarter. 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.