Equities Analysts Issue Forecasts for XENE FY2024 Earnings

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) – Equities research analysts at HC Wainwright decreased their FY2024 EPS estimates for Xenon Pharmaceuticals in a research note issued on Wednesday, November 13th. HC Wainwright analyst D. Tsao now anticipates that the biopharmaceutical company will post earnings of ($3.02) per share for the year, down from their previous forecast of ($2.97). HC Wainwright has a “Buy” rating and a $53.00 price objective on the stock. The consensus estimate for Xenon Pharmaceuticals’ current full-year earnings is ($3.13) per share. HC Wainwright also issued estimates for Xenon Pharmaceuticals’ Q4 2024 earnings at ($0.85) EPS, FY2025 earnings at ($3.58) EPS, FY2026 earnings at ($4.43) EPS, FY2027 earnings at ($4.86) EPS and FY2028 earnings at ($4.36) EPS.

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

Several other brokerages have also recently weighed in on XENE. William Blair raised Xenon Pharmaceuticals to a “strong-buy” rating in a research note 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, November 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $65.00 price objective on shares of Xenon Pharmaceuticals in a research report on Friday, August 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd. Finally, Wedbush dropped their price objective on Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $57.45.

Xenon Pharmaceuticals Price Performance

Shares of XENE opened at $39.83 on Monday. The business’s 50 day simple moving average is $41.21 and its 200-day simple moving average is $40.34. Xenon Pharmaceuticals has a 1 year low of $28.10 and a 1 year high of $50.99. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of -14.12 and a beta of 1.25.

Institutional Trading of Xenon Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets increased its holdings in Xenon Pharmaceuticals by 89.5% in the first quarter. BNP Paribas Financial Markets now owns 8,321 shares of the biopharmaceutical company’s stock valued at $358,000 after buying an additional 3,931 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of 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 purchasing an additional 3,813 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of 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. Vanguard Group Inc. lifted its stake in shares of Xenon Pharmaceuticals by 3.8% in the first quarter. Vanguard Group Inc. now owns 335,635 shares of the biopharmaceutical company’s stock worth $14,449,000 after buying an additional 12,140 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its holdings in Xenon Pharmaceuticals by 87.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 10,032 shares of the biopharmaceutical company’s stock valued at $432,000 after acquiring an additional 4,691 shares during the last quarter. 95.45% of the stock is owned by institutional investors and hedge funds.

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.