Wedbush Has Negative Outlook for XENE FY2028 Earnings

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) – Equities research analysts at Wedbush cut their FY2028 earnings per share estimates for Xenon Pharmaceuticals in a research report issued to clients and investors on Friday, February 28th. Wedbush analyst L. Chico now expects that the biopharmaceutical company will post earnings of $1.22 per share for the year, down from their prior forecast of $1.42. The consensus estimate for Xenon Pharmaceuticals’ current full-year earnings is ($3.10) per share.

Other equities research analysts have also recently issued reports about the company. HC Wainwright reissued a “buy” rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a research note on Monday, February 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price objective on shares of Xenon Pharmaceuticals in a research note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft assumed coverage on Xenon Pharmaceuticals in a report on Tuesday, February 11th. They issued a “buy” rating and a $67.00 price objective for the company. Finally, William Blair restated an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Friday. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $57.38.

Xenon Pharmaceuticals Price Performance

Shares of Xenon Pharmaceuticals stock opened at $35.79 on Monday. The firm has a 50 day simple moving average of $39.22 and a 200 day simple moving average of $40.31. Xenon Pharmaceuticals has a fifty-two week low of $33.27 and a fifty-two week high of $47.80. The firm has a market cap of $2.73 billion, a P/E ratio of -12.69 and a beta of 1.20.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share for the quarter, beating the consensus estimate of ($0.89) by $0.05.

Insiders Place Their Bets

In other Xenon Pharmaceuticals news, CEO Ian Mortimer sold 22,468 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $40.20, for a total transaction of $903,213.60. Following the completion of the transaction, the chief executive officer now owns 31,302 shares of the company’s stock, valued at $1,258,340.40. This represents a 41.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Sherry Aulin sold 18,709 shares of Xenon Pharmaceuticals stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $41.21, for a total transaction of $770,997.89. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 57,492 shares of company stock worth $2,334,969. Corporate insiders own 5.52% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in XENE. Janus Henderson Group PLC grew its holdings in Xenon Pharmaceuticals by 144.2% during the third quarter. Janus Henderson Group PLC now owns 2,552,392 shares of the biopharmaceutical company’s stock worth $100,506,000 after purchasing an additional 1,507,135 shares during the period. JPMorgan Chase & Co. grew its position in shares of Xenon Pharmaceuticals by 1,263.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company’s stock worth $38,456,000 after purchasing an additional 905,129 shares in the last quarter. FMR LLC raised its position in shares of Xenon Pharmaceuticals by 8.8% in the fourth quarter. FMR LLC now owns 7,525,290 shares of the biopharmaceutical company’s stock valued at $294,991,000 after buying an additional 607,606 shares in the last quarter. Boxer Capital Management LLC bought a new stake in shares of Xenon Pharmaceuticals in the fourth quarter valued at approximately $23,520,000. Finally, Stempoint Capital LP bought a new stake in shares of Xenon Pharmaceuticals in the fourth quarter valued at approximately $14,733,000. 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.