FY2024 EPS Estimates for XENE Decreased by Cantor Fitzgerald

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) – Equities researchers at Cantor Fitzgerald cut their FY2024 earnings per share estimates for shares of Xenon Pharmaceuticals in a report issued on Wednesday, November 13th. Cantor Fitzgerald analyst J. Schimmer now expects that the biopharmaceutical company will earn ($3.01) per share for the year, down from their prior estimate of ($2.87). Cantor Fitzgerald 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 equities analysts have also weighed in on XENE. HC Wainwright restated a “buy” rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a research note on Wednesday, November 13th. Wedbush decreased their target price on Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Royal Bank of Canada restated an “outperform” rating and issued a $55.00 target price on shares of Xenon Pharmaceuticals in a research note on Tuesday, September 3rd. Raymond James restated an “outperform” rating and issued a $50.00 target price on shares of Xenon Pharmaceuticals in a research note on Thursday, October 10th. Finally, Needham & Company LLC restated a “buy” rating and issued a $60.00 target price on shares of Xenon Pharmaceuticals in a research note on Wednesday, November 13th. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $57.45.

Xenon Pharmaceuticals Stock Down 3.8 %

Shares of NASDAQ XENE opened at $38.31 on Monday. The firm has a market capitalization of $2.92 billion, a P/E ratio of -14.12 and a beta of 1.25. The stock’s 50-day simple moving average is $41.21 and its two-hundred day simple moving average is $40.32. Xenon Pharmaceuticals has a twelve month low of $28.20 and a twelve month high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings data 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 period in the previous year, the firm posted ($0.73) EPS.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Several institutional investors have recently modified their holdings of 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 acquiring an additional 487 shares during the last quarter. California State Teachers Retirement System grew its position 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 worth $2,431,000 after acquiring an additional 490 shares during the last quarter. Advisors Asset Management Inc. grew its position in Xenon Pharmaceuticals by 3.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 13,592 shares of the biopharmaceutical company’s stock worth $535,000 after acquiring an additional 493 shares during the last quarter. ProShare Advisors LLC grew its position in Xenon Pharmaceuticals by 12.0% during the 1st quarter. ProShare Advisors LLC now owns 5,286 shares of the biopharmaceutical company’s stock worth $228,000 after acquiring an additional 565 shares during the last quarter. Finally, Blue Trust Inc. grew its position in 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 acquiring an additional 641 shares during the last quarter. 95.45% of the stock is currently owned by institutional investors.

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.