What is Wedbush’s Estimate for XENE FY2024 Earnings?

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) – Equities research analysts at Wedbush decreased their FY2024 earnings per share (EPS) estimates for Xenon Pharmaceuticals in a research report issued to clients and investors on Wednesday, November 13th. Wedbush analyst L. Chico now forecasts that the biopharmaceutical company will post earnings per share of ($3.00) for the year, down from their previous forecast of ($2.91). Wedbush currently has a “Outperform” rating and a $49.00 target price on the stock. The consensus estimate for Xenon Pharmaceuticals’ current full-year earnings is ($3.10) per share. Wedbush also issued estimates for Xenon Pharmaceuticals’ Q4 2024 earnings at ($0.83) EPS, Q1 2025 earnings at ($0.84) EPS, Q2 2025 earnings at ($0.85) EPS, Q3 2025 earnings at ($0.86) EPS, Q4 2025 earnings at ($0.88) EPS, FY2025 earnings at ($3.44) EPS, FY2026 earnings at ($3.47) EPS, FY2027 earnings at ($0.56) EPS and FY2028 earnings at $4.20 EPS.

Several other analysts have also weighed in on XENE. Raymond James reissued an “outperform” rating and issued a $50.00 price objective on shares of Xenon Pharmaceuticals in a report on Thursday, October 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $55.00 price objective on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd. William Blair raised Xenon Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Needham & Company LLC reissued a “buy” rating and issued a $60.00 price objective on shares of Xenon Pharmaceuticals in a report on Wednesday. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 price objective on shares of Xenon Pharmaceuticals in a report on Friday, August 9th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $57.45.

Xenon Pharmaceuticals Price Performance

Shares of Xenon Pharmaceuticals stock opened at $41.75 on Friday. Xenon Pharmaceuticals has a fifty-two week low of $28.10 and a fifty-two week high of $50.99. The business has a 50-day moving average price of $41.14 and a 200 day moving average price of $40.35.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, beating the consensus estimate of ($0.82) by $0.01. During the same period last year, the company earned ($0.73) EPS.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Xenon Pharmaceuticals by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company’s stock worth $106,000 after buying an additional 487 shares during the period. California State Teachers Retirement System boosted its position in shares of Xenon Pharmaceuticals by 0.9% during the first quarter. California State Teachers Retirement System now owns 56,477 shares of the biopharmaceutical company’s stock worth $2,431,000 after buying an additional 490 shares during the period. Advisors Asset Management Inc. boosted its position in shares of Xenon Pharmaceuticals by 3.8% during the third quarter. Advisors Asset Management Inc. now owns 13,592 shares of the biopharmaceutical company’s stock worth $535,000 after buying an additional 493 shares during the period. ProShare Advisors LLC boosted its position in shares of Xenon Pharmaceuticals by 12.0% during the first quarter. ProShare Advisors LLC now owns 5,286 shares of the biopharmaceutical company’s stock worth $228,000 after buying an additional 565 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of Xenon Pharmaceuticals by 174.7% during the third quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 641 shares during the period. 95.45% of the stock is currently owned by institutional investors and hedge funds.

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.