XENE FY2024 EPS Forecast Reduced by Cantor Fitzgerald

Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) - Equities researchers at Cantor Fitzgerald reduced their FY2024 earnings estimates for shares of Xenon Pharmaceuticals in a research report issued on Wednesday, November 13th. Cantor Fitzgerald analyst J. Schimmer now forecasts that the biopharmaceutical company will post earnings of ($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 price target on the stock. The consensus estimate for Xenon Pharmaceuticals' current full-year earnings is ($3.13) per share.

A number of other research analysts have also weighed in on XENE. Raymond James reissued an "outperform" rating and set a $50.00 target price on shares of Xenon Pharmaceuticals in a research report on Thursday, October 10th. William Blair raised shares of Xenon Pharmaceuticals to a "strong-buy" rating in a research report on Friday, August 30th. HC Wainwright reissued a "buy" rating and set a $53.00 target price on shares of Xenon Pharmaceuticals in a research report on Wednesday, November 13th. Wedbush cut their target price on shares of Xenon Pharmaceuticals from $50.00 to $49.00 and set an "outperform" rating for the company in a research report on Friday, August 9th. Finally, Needham & Company LLC reissued a "buy" rating and set a $60.00 target price on shares of Xenon Pharmaceuticals in a research report on Wednesday, November 13th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $57.45.

Xenon Pharmaceuticals Price Performance

Shares of XENE stock traded down $0.29 on Monday, hitting $39.54. The company's stock had a trading volume of 192,096 shares, compared to its average volume of 386,301. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of -14.12 and a beta of 1.25. Xenon Pharmaceuticals has a fifty-two week low of $28.20 and a fifty-two week high of $50.99. The firm's fifty day moving average price is $41.21 and its 200-day moving average price is $40.32.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. increased its stake in 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 acquiring an additional 641 shares during the period. nVerses Capital LLC bought a new stake in Xenon Pharmaceuticals in the third quarter valued at about $102,000. Mirae Asset Global Investments Co. Ltd. increased its stake 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 acquiring an additional 487 shares during the period. Quarry LP increased its stake in Xenon Pharmaceuticals by 207.7% in the second quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company's stock valued at $156,000 after acquiring an additional 2,700 shares during the period. Finally, EntryPoint Capital LLC bought a new stake in Xenon Pharmaceuticals in the first quarter valued at about $195,000. Institutional investors own 95.45% of the company's stock.

About Xenon Pharmaceuticals

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.