HC Wainwright Has Negative Forecast for XENE FY2024 Earnings

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) – Equities researchers at HC Wainwright lowered their FY2024 EPS estimates for Xenon Pharmaceuticals in a report issued on Wednesday, November 13th. HC Wainwright analyst D. Tsao now anticipates that the biopharmaceutical company will post earnings per share of ($3.02) for the year, down from their prior estimate of ($2.97). HC Wainwright has a “Buy” rating and a $53.00 price target 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.

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

A number of other research firms have also recently weighed in on XENE. Wedbush decreased their price target on Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd. 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, November 13th. Raymond James restated an “outperform” rating and set a $50.00 target price on shares of Xenon Pharmaceuticals in a research note on Thursday, October 10th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 price target on shares of Xenon Pharmaceuticals in a research note on Friday, August 9th. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $57.45.

Xenon Pharmaceuticals Trading Up 1.4 %

NASDAQ:XENE opened at $38.85 on Monday. The firm’s fifty day simple moving average is $41.20 and its 200 day simple moving average is $40.29. Xenon Pharmaceuticals has a twelve month low of $28.20 and a twelve month high of $50.99. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of -13.59 and a beta of 1.25.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Large investors have recently made changes to their positions in the business. FMR LLC raised its holdings in shares of Xenon Pharmaceuticals by 2.2% in the 3rd quarter. FMR LLC now owns 6,917,684 shares of the biopharmaceutical company’s stock worth $272,349,000 after purchasing an additional 149,511 shares in the last quarter. Driehaus Capital Management LLC increased its holdings in shares of Xenon Pharmaceuticals by 2.3% in the second quarter. Driehaus Capital Management LLC now owns 4,419,472 shares of the biopharmaceutical company’s stock valued at $172,315,000 after buying an additional 97,732 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Xenon Pharmaceuticals by 0.4% during the 3rd quarter. Wellington Management Group LLP now owns 3,843,447 shares of the biopharmaceutical company’s stock valued at $151,317,000 after acquiring an additional 15,226 shares during the last quarter. Braidwell LP boosted its stake in shares of Xenon Pharmaceuticals by 5.7% during the 3rd quarter. Braidwell LP now owns 2,707,255 shares of the biopharmaceutical company’s stock worth $106,585,000 after acquiring an additional 146,682 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Xenon Pharmaceuticals by 144.2% during the 3rd quarter. Janus Henderson Group PLC now owns 2,552,392 shares of the biopharmaceutical company’s stock worth $100,506,000 after acquiring an additional 1,507,135 shares in the last quarter. Institutional investors 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.