FY2024 Earnings Estimate for XENE Issued By Leerink Partnrs

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) – Investment analysts at Leerink Partnrs decreased their FY2024 earnings estimates for shares of Xenon Pharmaceuticals in a research note issued to investors 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 previous 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 research analysts have also weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $55.00 price objective on shares of Xenon Pharmaceuticals in a research note on Tuesday, September 3rd. Wedbush reduced their price objective on shares of Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price objective on shares of Xenon Pharmaceuticals in a research note on Wednesday. HC Wainwright reiterated a “buy” rating and issued a $53.00 price objective on shares of Xenon Pharmaceuticals in a research note on Wednesday. Finally, William Blair upgraded shares of Xenon Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Xenon Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $57.45.

Xenon Pharmaceuticals Trading Down 4.6 %

Xenon Pharmaceuticals stock opened at $39.83 on Friday. Xenon Pharmaceuticals has a 1-year low of $28.10 and a 1-year high of $50.99. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of -14.21 and a beta of 1.25. The firm has a 50 day simple moving average of $41.18 and a 200 day simple moving average of $40.36.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.82) by $0.01. During the same quarter in the previous year, the business posted ($0.73) EPS.

Institutional Trading of Xenon Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. lifted its holdings 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 worth $39,000 after acquiring an additional 641 shares during the last quarter. nVerses Capital LLC bought a new stake in Xenon Pharmaceuticals in the third quarter worth $102,000. Mirae Asset Global Investments Co. Ltd. lifted 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 worth $106,000 after purchasing an additional 487 shares during the last quarter. Quarry LP lifted 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 worth $156,000 after purchasing an additional 2,700 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new stake in Xenon Pharmaceuticals in the first quarter worth $195,000. 95.45% of the stock is 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.