Equities Analysts Issue Forecasts for XENE FY2024 Earnings

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) – Wedbush reduced their FY2024 earnings per share (EPS) estimates for shares of Xenon Pharmaceuticals in a research note issued on Wednesday, November 13th. Wedbush analyst L. Chico now anticipates that the biopharmaceutical company will post earnings of ($3.00) per share for the year, down from their previous estimate of ($2.91). Wedbush has a “Outperform” rating and a $49.00 price objective on the stock. The consensus estimate for Xenon Pharmaceuticals’ current full-year earnings is ($3.10) per share. Wedbush also issued estimates for Xenon Pharmaceuticals’ Q4 2024 earnings at ($0.83) EPS, Q1 2025 earnings at ($0.84) EPS, Q2 2025 earnings at ($0.85) EPS, Q3 2025 earnings at ($0.86) EPS, Q4 2025 earnings at ($0.88) EPS, FY2025 earnings at ($3.44) EPS, FY2026 earnings at ($3.47) EPS, FY2027 earnings at ($0.56) EPS and FY2028 earnings at $4.20 EPS.

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

A number of other brokerages have also recently commented on XENE. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $65.00 price target on shares of Xenon Pharmaceuticals in a research note on Friday, August 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price target on shares of Xenon Pharmaceuticals in a research note on Wednesday. William Blair raised Xenon Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, September 3rd. Finally, Raymond James reaffirmed an “outperform” rating and issued a $50.00 price target on shares of Xenon Pharmaceuticals in a research note on Thursday, October 10th. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Xenon Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $57.45.

Xenon Pharmaceuticals Price Performance

Shares of XENE stock opened at $39.83 on Friday. The stock has a market cap of $3.04 billion, a PE ratio of -14.21 and a beta of 1.25. The stock has a 50-day moving average of $41.18 and a 200-day moving average of $40.36. Xenon Pharmaceuticals has a one year low of $28.10 and a one year high of $50.99.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of XENE. Blue Trust Inc. boosted its position in Xenon Pharmaceuticals by 174.7% during the 3rd quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 641 shares during the last quarter. nVerses Capital LLC acquired a new position in Xenon Pharmaceuticals during the 3rd quarter worth approximately $102,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Xenon Pharmaceuticals by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company’s stock worth $106,000 after acquiring an additional 487 shares during the last quarter. Quarry LP boosted its position 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 acquiring an additional 2,700 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new position in Xenon Pharmaceuticals during the 1st quarter worth approximately $195,000. 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.