XENE FY2024 EPS Estimate Lowered by Cantor Fitzgerald

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) – Analysts at Cantor Fitzgerald lowered their FY2024 earnings per share (EPS) estimates for Xenon Pharmaceuticals in a note issued to investors on Wednesday, November 13th. Cantor Fitzgerald analyst J. Schimmer now expects that the biopharmaceutical company will earn ($3.01) per share for the year, down from their previous estimate 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.

Several other research analysts also recently issued reports on XENE. William Blair upgraded shares of Xenon Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Raymond James reaffirmed an “outperform” rating and set a $50.00 target price on shares of Xenon Pharmaceuticals in a report on Thursday, October 10th. Needham & Company LLC reissued a “buy” rating and issued a $60.00 price target on shares of Xenon Pharmaceuticals in a research note on Wednesday, November 13th. Wedbush reduced their target price on Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $55.00 price objective on shares of Xenon Pharmaceuticals in a research report on Tuesday, September 3rd. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $57.45.

Xenon Pharmaceuticals Stock Up 1.4 %

Shares of Xenon Pharmaceuticals stock opened at $38.85 on Monday. Xenon Pharmaceuticals has a 12-month low of $28.20 and a 12-month high of $50.99. The stock has a market capitalization of $2.96 billion, a P/E ratio of -13.59 and a beta of 1.25. The company has a 50-day simple moving average of $41.20 and a 200 day simple moving average of $40.29.

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

Hedge Funds Weigh In On Xenon Pharmaceuticals

A number of large investors have recently modified their holdings of XENE. Barclays PLC raised its holdings in Xenon Pharmaceuticals by 1,275.5% during the third quarter. Barclays PLC now owns 14,993 shares of the biopharmaceutical company’s stock worth $590,000 after acquiring an additional 13,903 shares in the last quarter. Vestcor Inc bought a new stake in shares of Xenon Pharmaceuticals during the 3rd quarter worth approximately $327,000. Y Intercept Hong Kong Ltd boosted its holdings in shares of Xenon Pharmaceuticals by 68.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 24,557 shares of the biopharmaceutical company’s stock valued at $967,000 after buying an additional 10,007 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Xenon Pharmaceuticals by 0.4% in 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 buying an additional 15,226 shares in the last quarter. Finally, Two Sigma Advisers LP increased its holdings in Xenon Pharmaceuticals by 31.0% during the third quarter. Two Sigma Advisers LP now owns 273,700 shares of the biopharmaceutical company’s stock worth $10,776,000 after buying an additional 64,800 shares during the last quarter. 95.45% of the stock is currently 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.