Analysts Set Expectations for Xenon Pharmaceuticals Inc.’s Q3 2024 Earnings (NASDAQ:XENE)

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) – Investment analysts at HC Wainwright issued their Q3 2024 EPS estimates for shares of Xenon Pharmaceuticals in a research report issued to clients and investors on Tuesday, October 1st. HC Wainwright analyst D. Tsao anticipates that the biopharmaceutical company will post earnings per share of ($0.80) for the quarter. HC Wainwright currently has a “Buy” rating and a $53.00 price target on the stock. The consensus estimate for Xenon Pharmaceuticals’ current full-year earnings is ($3.14) per share. HC Wainwright also issued estimates for Xenon Pharmaceuticals’ Q4 2024 earnings at ($0.81) EPS, FY2024 earnings at ($2.97) EPS, FY2025 earnings at ($3.45) EPS, FY2026 earnings at ($4.28) EPS, FY2027 earnings at ($4.82) EPS and FY2028 earnings at ($4.39) EPS.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.05). During the same quarter last year, the firm earned ($0.72) EPS.

A number of other brokerages have also recently issued reports on XENE. Needham & Company LLC lowered their price target on shares of Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, August 12th. William Blair raised shares of Xenon Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Cantor Fitzgerald restated an “overweight” rating and set a $65.00 price objective on shares of Xenon Pharmaceuticals in a research note on Friday, August 9th. Wedbush reduced their price objective 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, Royal Bank of Canada restated an “outperform” rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Xenon Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $58.20.

Xenon Pharmaceuticals Trading Up 2.6 %

NASDAQ:XENE opened at $40.73 on Thursday. The company has a 50-day moving average price of $40.11 and a 200-day moving average price of $40.29. Xenon Pharmaceuticals has a 12 month low of $27.99 and a 12 month high of $50.99. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of -15.03 and a beta of 1.25.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Large investors have recently bought and sold shares of the business. Parallel Advisors LLC increased its position in Xenon Pharmaceuticals by 51.2% in the fourth quarter. Parallel Advisors LLC now owns 1,125 shares of the biopharmaceutical company’s stock worth $52,000 after purchasing an additional 381 shares during the last quarter. PNC Financial Services Group Inc. bought a new stake in Xenon Pharmaceuticals in the fourth quarter worth $91,000. 17 Capital Partners LLC bought a new stake in Xenon Pharmaceuticals in the first quarter worth $122,000. Quarry LP increased its position in Xenon Pharmaceuticals by 207.7% in the second quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock worth $156,000 after purchasing an additional 2,700 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new stake in Xenon Pharmaceuticals in the first quarter worth $195,000. Institutional investors own 95.45% of the company’s stock.

About Xenon Pharmaceuticals

Xenon Pharmaceuticals Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN496, a Kv7 potassium channel opener that is Phase III clinical trials for the treatment of KCNQ2 developmental and epileptic encephalopathy; and XEN1101, a Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.