Xenon Pharmaceuticals (NASDAQ:XENE) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Xenon Pharmaceuticals (NASDAQ:XENE) posted its earnings results on Tuesday. The biopharmaceutical company reported ($0.81) EPS for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.01, Briefing.com reports. During the same quarter in the prior year, the firm posted ($0.73) earnings per share.

Xenon Pharmaceuticals Stock Performance

Xenon Pharmaceuticals stock opened at $43.39 on Wednesday. Xenon Pharmaceuticals has a fifty-two week low of $27.99 and a fifty-two week high of $50.99. The stock has a market cap of $3.29 billion, a P/E ratio of -15.84 and a beta of 1.25. The firm’s fifty day moving average price is $41.05 and its 200-day moving average price is $40.32.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on XENE. Royal Bank of Canada restated an “outperform” rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a research report on Tuesday, September 3rd. HC Wainwright started coverage on Xenon Pharmaceuticals in a research report on Tuesday, October 1st. They set a “buy” rating and a $53.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 target price on shares of Xenon Pharmaceuticals in a research note on Friday, August 9th. William Blair raised Xenon Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price objective on shares of Xenon Pharmaceuticals in a research report on Wednesday. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Xenon Pharmaceuticals has a consensus 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.