Xenon Pharmaceuticals (NASDAQ:XENE) Posts Earnings Results, Beats Expectations By $0.01 EPS

Xenon Pharmaceuticals (NASDAQ:XENE) posted its earnings results on Tuesday. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, beating the consensus estimate of ($0.82) by $0.01, Briefing.com reports. During the same period in the previous year, the company earned ($0.73) earnings per share.

Xenon Pharmaceuticals Stock Performance

Shares of NASDAQ XENE opened at $41.75 on Friday. The company’s fifty day moving average is $41.14 and its two-hundred day moving average is $40.35. The firm has a market capitalization of $3.18 billion, a P/E ratio of -14.80 and a beta of 1.25. Xenon Pharmaceuticals has a one year low of $28.10 and a one year high of $50.99.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on XENE shares. Wedbush decreased their price objective on 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 research note on Friday, August 30th. HC Wainwright reissued a “buy” rating and set a $53.00 price target on shares of Xenon Pharmaceuticals in a report on Wednesday. Raymond James restated an “outperform” rating and issued a $50.00 price target on shares of Xenon Pharmaceuticals in a research report on Thursday, October 10th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Xenon Pharmaceuticals in a research report on Friday, August 9th. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Xenon Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $57.45.

About Xenon Pharmaceuticals

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.