FY2024 Earnings Estimate for XENE Issued By Leerink Partnrs

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) – Leerink Partnrs dropped their FY2024 earnings estimates for Xenon Pharmaceuticals in a report released on Tuesday, November 12th. Leerink Partnrs analyst M. Goodman now expects that the biopharmaceutical company will earn ($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 ($3.12) 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.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, beating 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 analysts also recently weighed in on the stock. HC Wainwright restated a “buy” rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a report on Wednesday. William Blair raised Xenon Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price target on shares of Xenon Pharmaceuticals in a research report on Wednesday. Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 price objective on shares of Xenon Pharmaceuticals in a report on Friday, August 9th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $50.00 price target on shares of Xenon Pharmaceuticals in a report on Thursday, October 10th. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Xenon Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $57.45.

Xenon Pharmaceuticals Price Performance

Shares of XENE opened at $39.83 on Friday. The company has a 50 day simple moving average of $41.21 and a two-hundred day simple moving average of $40.34. Xenon Pharmaceuticals has a 1 year low of $28.10 and a 1 year high of $50.99. The firm has a market cap of $3.04 billion, a P/E ratio of -14.12 and a beta of 1.25.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in XENE. Mirae Asset Global Investments Co. Ltd. raised 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 buying an additional 487 shares during the last quarter. California State Teachers Retirement System increased its holdings in Xenon Pharmaceuticals by 0.9% during the 1st quarter. California State Teachers Retirement System now owns 56,477 shares of the biopharmaceutical company’s stock valued at $2,431,000 after acquiring an additional 490 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Xenon Pharmaceuticals by 3.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 13,592 shares of the biopharmaceutical company’s stock valued at $535,000 after buying an additional 493 shares in the last quarter. ProShare Advisors LLC raised its stake in Xenon Pharmaceuticals by 12.0% in the 1st quarter. ProShare Advisors LLC now owns 5,286 shares of the biopharmaceutical company’s stock valued at $228,000 after purchasing an additional 565 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of 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 purchasing an additional 641 shares during the period. Institutional investors and hedge funds own 95.45% of the company’s stock.

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.