HC Wainwright Issues Pessimistic Estimate for XENE Earnings

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) – Research analysts at HC Wainwright lowered their FY2024 EPS estimates for Xenon Pharmaceuticals in a report released on Wednesday, November 13th. HC Wainwright analyst D. Tsao now expects that the biopharmaceutical company will post earnings per share of ($3.02) for the year, down from their previous forecast of ($2.97). HC Wainwright has a “Buy” rating and a $53.00 price target 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.

A number of other equities research analysts have also recently commented on XENE. Wedbush reduced their target price on shares of Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, September 3rd. Needham & Company LLC reissued a “buy” rating and issued a $60.00 price target on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th. William Blair raised shares of Xenon Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $65.00 target price on shares of Xenon Pharmaceuticals in a research report on Friday, August 9th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Xenon Pharmaceuticals has a consensus rating of “Buy” and an average price target of $57.45.

Xenon Pharmaceuticals Stock Down 4.6 %

NASDAQ:XENE opened at $39.83 on Monday. Xenon Pharmaceuticals has a 52-week low of $28.10 and a 52-week high of $50.99. The stock’s 50 day moving average price is $41.21 and its 200 day moving average price is $40.34. The company has a market capitalization of $3.04 billion, a PE ratio of -14.12 and a beta of 1.25.

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

Institutional Trading of Xenon Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its stake in shares of Xenon Pharmaceuticals by 174.7% in the third quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 641 shares during the period. nVerses Capital LLC bought a new position in shares of Xenon Pharmaceuticals during the third quarter worth about $102,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Xenon Pharmaceuticals by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company’s stock valued at $106,000 after buying an additional 487 shares during the last quarter. Quarry LP lifted its holdings in Xenon Pharmaceuticals by 207.7% during the 2nd quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock worth $156,000 after buying an additional 2,700 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of Xenon Pharmaceuticals during the 1st quarter valued at approximately $195,000. 95.45% of the stock is owned by hedge funds and other institutional investors.

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.