Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) - Stock analysts at HC Wainwright lowered their FY2024 earnings per share (EPS) estimates for Xenon Pharmaceuticals in a report issued on Wednesday, November 13th. HC Wainwright analyst D. Tsao now forecasts that the biopharmaceutical company will post earnings of ($3.02) per share for the year, down from their prior estimate of ($2.97). HC Wainwright currently has a "Buy" rating and a $53.00 target price 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.
Other research analysts have also issued research reports about the stock. William Blair upgraded shares of Xenon Pharmaceuticals to a "strong-buy" rating in a research note on Friday, August 30th. Wedbush lowered their price objective on shares of Xenon Pharmaceuticals from $50.00 to $49.00 and set an "outperform" rating on the stock in a research note on Friday, August 9th. Raymond James reiterated an "outperform" rating and set a $50.00 price objective on shares of Xenon Pharmaceuticals in a research note on Thursday, October 10th. Cantor Fitzgerald restated an "overweight" rating and issued a $65.00 price target on shares of Xenon Pharmaceuticals in a research report on Friday, August 9th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a research report on Tuesday, September 3rd. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Xenon Pharmaceuticals presently has an average rating of "Buy" and a consensus price target of $57.45.
Check Out Our Latest Report on Xenon Pharmaceuticals
Xenon Pharmaceuticals Price Performance
Shares of NASDAQ XENE traded down $0.29 during mid-day trading on Monday, reaching $39.54. 192,096 shares of the company traded hands, compared to its average volume of 386,301. Xenon Pharmaceuticals has a fifty-two week low of $28.20 and a fifty-two week high of $50.99. The firm has a market cap of $3.01 billion, a PE ratio of -14.12 and a beta of 1.25. The stock has a fifty day simple moving average of $41.21 and a 200-day simple moving average of $40.32.
Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, beating analysts' consensus estimates of ($0.82) by $0.01. During the same period in the prior year, the firm posted ($0.73) EPS.
Hedge Funds Weigh In On Xenon Pharmaceuticals
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew 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 purchasing an additional 487 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of 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 buying an additional 490 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of Xenon Pharmaceuticals by 3.8% during 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 during the period. ProShare Advisors LLC boosted its stake in shares of Xenon Pharmaceuticals by 12.0% during the 1st quarter. ProShare Advisors LLC now owns 5,286 shares of the biopharmaceutical company's stock valued at $228,000 after buying an additional 565 shares during the period. Finally, Blue Trust Inc. boosted 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 valued at $39,000 after buying an additional 641 shares during the period. 95.45% of the stock is currently owned by hedge funds and other institutional investors.
Xenon Pharmaceuticals Company Profile
(
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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.
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