HC Wainwright Has Negative Outlook of XENE FY2024 Earnings

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) – Equities research analysts at HC Wainwright reduced their FY2024 earnings per share estimates for shares of Xenon Pharmaceuticals in a research report issued on Wednesday, November 13th. HC Wainwright analyst D. Tsao now anticipates that the biopharmaceutical company will earn ($3.02) per share for the year, down from their previous estimate of ($2.97). HC Wainwright currently has a “Buy” rating and a $53.00 target price on the stock. The consensus estimate for Xenon Pharmaceuticals’ current full-year earnings is ($3.13) per share. HC Wainwright also issued estimates for Xenon Pharmaceuticals’ Q4 2024 earnings at ($0.85) EPS, FY2025 earnings at ($3.58) EPS, FY2026 earnings at ($4.43) EPS, FY2027 earnings at ($4.86) EPS and FY2028 earnings at ($4.36) EPS.

Other equities research analysts also recently issued reports about the company. Needham & Company LLC reissued a “buy” rating and issued a $60.00 price objective on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th. Royal Bank of Canada reissued an “outperform” rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a research report on Tuesday, September 3rd. William Blair raised shares of Xenon Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Wedbush decreased 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 note on Friday, August 9th. Finally, Raymond James reaffirmed an “outperform” rating and set a $50.00 price objective on shares of Xenon Pharmaceuticals in a research note on Thursday, October 10th. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $57.45.

Xenon Pharmaceuticals Stock Up 1.4 %

NASDAQ:XENE opened at $38.85 on Monday. The company has a market capitalization of $2.96 billion, a PE ratio of -13.59 and a beta of 1.25. Xenon Pharmaceuticals has a 52-week low of $28.20 and a 52-week high of $50.99. The stock’s 50 day moving average price is $41.20 and its 200 day moving average price is $40.29.

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

Institutional Trading of Xenon Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings 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 buying an additional 487 shares in the last quarter. California State Teachers Retirement System increased its stake in Xenon Pharmaceuticals by 0.9% in the 1st quarter. California State Teachers Retirement System now owns 56,477 shares of the biopharmaceutical company’s stock valued at $2,431,000 after purchasing an additional 490 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Xenon Pharmaceuticals by 3.8% during the third quarter. Advisors Asset Management Inc. now owns 13,592 shares of the biopharmaceutical company’s stock worth $535,000 after purchasing an additional 493 shares during the last quarter. ProShare Advisors LLC grew its holdings in Xenon Pharmaceuticals by 12.0% in the first quarter. ProShare Advisors LLC now owns 5,286 shares of the biopharmaceutical company’s stock valued at $228,000 after purchasing an additional 565 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of 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 buying an additional 641 shares in the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

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.