Wedbush Has Bearish Estimate for XENE FY2024 Earnings

Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) - Research analysts at Wedbush dropped their FY2024 earnings per share estimates for shares of Xenon Pharmaceuticals in a research report issued on Wednesday, November 13th. Wedbush analyst L. Chico now anticipates that the biopharmaceutical company will post earnings per share of ($3.00) for the year, down from their prior 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.

Several other analysts also recently weighed in on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $65.00 target price on shares of Xenon Pharmaceuticals in a report on Friday, August 9th. HC Wainwright reissued a "buy" rating and set a $53.00 price objective on shares of Xenon Pharmaceuticals in a research report on Wednesday. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $55.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd. Raymond James reiterated an "outperform" rating and set a $50.00 price target on shares of Xenon Pharmaceuticals in a report on Thursday, October 10th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $60.00 price objective on shares of Xenon Pharmaceuticals in a research report on Wednesday. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $57.45.

Xenon Pharmaceuticals Stock Down 4.6 %

NASDAQ:XENE traded down $1.92 on Friday, reaching $39.83. The company's stock had a trading volume of 654,007 shares, compared to its average volume of 387,176. The stock has a 50 day moving average price of $41.18 and a 200 day moving average price of $40.36. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of -14.21 and a beta of 1.25. Xenon Pharmaceuticals has a 12-month low of $28.10 and a 12-month high of $50.99.

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

Hedge Funds Weigh In On Xenon Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. lifted its position 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 purchasing an additional 641 shares during the period. nVerses Capital LLC purchased a new position in shares of Xenon Pharmaceuticals during the 3rd quarter worth approximately $102,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Xenon Pharmaceuticals by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company's stock valued at $106,000 after buying an additional 487 shares during the period. Quarry LP lifted its holdings in shares of Xenon Pharmaceuticals by 207.7% in the 2nd quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company's stock valued at $156,000 after buying an additional 2,700 shares during the period. Finally, EntryPoint Capital LLC purchased a new stake in shares of Xenon Pharmaceuticals in the first quarter valued at approximately $195,000. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

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.