Leerink Partnrs Has Pessimistic View of XENE FY2024 Earnings

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) – Stock analysts at Leerink Partnrs cut their FY2024 EPS 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 earn ($3.10) per share for the year, down from their prior estimate 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.

Several other analysts also recently commented on XENE. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 target price on shares of Xenon Pharmaceuticals in a report on Friday, August 9th. Wedbush decreased their price objective on shares of Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating for the company in a report on Friday, August 9th. William Blair upgraded shares of Xenon Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Royal Bank of Canada restated an “outperform” rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd. Finally, Raymond James restated an “outperform” rating and set a $50.00 price objective on shares of Xenon Pharmaceuticals in a report on Thursday, October 10th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $57.45.

Xenon Pharmaceuticals Trading Down 0.5 %

XENE opened at $41.75 on Friday. The company’s fifty day moving average price is $41.14 and its two-hundred day moving average price is $40.35. The company has a market cap of $3.18 billion, a price-to-earnings ratio of -14.80 and a beta of 1.25. Xenon Pharmaceuticals has a 1-year low of $28.10 and a 1-year high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its 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 prior year, the business earned ($0.73) EPS.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. boosted its position in Xenon Pharmaceuticals by 647.8% during the second quarter. Harbor Capital Advisors Inc. now owns 24,116 shares of the biopharmaceutical company’s stock worth $940,000 after purchasing an additional 20,891 shares during the period. Capital International Investors boosted its position in shares of Xenon Pharmaceuticals by 0.8% in the first quarter. Capital International Investors now owns 2,475,859 shares of the biopharmaceutical company’s stock valued at $106,586,000 after acquiring an additional 20,176 shares during the period. Westfield Capital Management Co. LP boosted its position in shares of Xenon Pharmaceuticals by 46.3% in the first quarter. Westfield Capital Management Co. LP now owns 347,351 shares of the biopharmaceutical company’s stock valued at $14,953,000 after acquiring an additional 109,856 shares during the period. DNB Asset Management AS boosted its position in shares of Xenon Pharmaceuticals by 39.2% in the second quarter. DNB Asset Management AS now owns 175,733 shares of the biopharmaceutical company’s stock valued at $6,852,000 after acquiring an additional 49,483 shares during the period. Finally, Driehaus Capital Management LLC boosted its position 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 acquiring an additional 97,732 shares during the period. 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.