Equities Analysts Set Expectations for XENE FY2024 Earnings

Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) - Equities researchers at Leerink Partnrs lowered their FY2024 earnings per share (EPS) estimates for Xenon Pharmaceuticals in a research report issued on Tuesday, November 12th. Leerink Partnrs analyst M. Goodman now anticipates that the biopharmaceutical company will post earnings per share of ($3.10) for the year, down from their prior forecast of ($3.00). The consensus estimate for Xenon Pharmaceuticals' current full-year earnings is ($3.10) 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.

A number of other brokerages have also recently commented on XENE. Royal Bank of Canada reiterated an "outperform" rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $65.00 price objective on shares of Xenon Pharmaceuticals in a research note on Friday, August 9th. Needham & Company LLC reiterated a "buy" rating and set a $60.00 price objective on shares of Xenon Pharmaceuticals in a research report on Wednesday. HC Wainwright restated a "buy" rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a report on Wednesday. Finally, William Blair upgraded shares of Xenon Pharmaceuticals to a "strong-buy" rating in a report on Friday, August 30th. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $57.45.

Xenon Pharmaceuticals Stock Down 4.6 %

Shares of XENE traded down $1.92 during mid-day trading on Friday, reaching $39.83. 654,007 shares of the company's stock were exchanged, compared to its average volume of 387,176. Xenon Pharmaceuticals has a 52-week low of $28.10 and a 52-week high of $50.99. The company has a market cap of $3.04 billion, a price-to-earnings ratio of -14.21 and a beta of 1.25. The company has a 50-day simple moving average of $41.18 and a two-hundred day simple moving average of $40.36.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.82) by $0.01. During the same quarter last year, the firm posted ($0.73) EPS.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC raised its stake in Xenon Pharmaceuticals by 144.2% during the third quarter. Janus Henderson Group PLC now owns 2,552,392 shares of the biopharmaceutical company's stock worth $100,506,000 after purchasing an additional 1,507,135 shares during the period. Affinity Asset Advisors LLC increased its holdings in shares of Xenon Pharmaceuticals by 82.0% during the 1st quarter. Affinity Asset Advisors LLC now owns 837,387 shares of the biopharmaceutical company's stock worth $36,050,000 after buying an additional 377,387 shares during the last quarter. Logos Global Management LP purchased a new position in shares of Xenon Pharmaceuticals in the 2nd quarter worth $14,621,000. Vestal Point Capital LP grew its position in Xenon Pharmaceuticals by 57.1% during the third quarter. Vestal Point Capital LP now owns 825,000 shares of the biopharmaceutical company's stock valued at $32,480,000 after acquiring an additional 300,000 shares during the period. Finally, Ikarian Capital LLC grew its position in Xenon Pharmaceuticals by 169.6% during the first quarter. Ikarian Capital LLC now owns 107,187 shares of the biopharmaceutical company's stock valued at $4,614,000 after acquiring an additional 261,276 shares during the period. 95.45% of the stock is 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.