What is Wedbush’s Estimate for XENE FY2024 Earnings?

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) – Analysts at Wedbush cut their FY2024 earnings per share (EPS) estimates for Xenon Pharmaceuticals in a note issued to investors on Wednesday, November 13th. Wedbush analyst L. Chico now expects that the biopharmaceutical company will earn ($3.00) per share for the year, down from their prior forecast of ($2.91). Wedbush has a “Outperform” rating and a $49.00 price objective 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 also recently issued reports on XENE. Needham & Company LLC reissued a “buy” rating and set a $60.00 target price on shares of Xenon Pharmaceuticals in a research note on Wednesday. HC Wainwright restated 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 set a $50.00 price target on shares of Xenon Pharmaceuticals in a report on Thursday, October 10th. William Blair upgraded shares of Xenon Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $65.00 price target on shares of Xenon Pharmaceuticals in a report on Friday, August 9th. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $57.45.

Xenon Pharmaceuticals Stock Down 0.5 %

NASDAQ XENE opened at $41.75 on Friday. The business’s fifty day moving average is $41.14 and its two-hundred day moving average is $40.35. Xenon Pharmaceuticals has a 1 year low of $28.10 and a 1 year high of $50.99.

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

Institutional Investors Weigh In On Xenon Pharmaceuticals

A number of large investors have recently bought and sold shares of XENE. Blue Trust Inc. boosted its holdings in Xenon Pharmaceuticals by 174.7% in the third quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 641 shares in the last quarter. nVerses Capital LLC bought a new stake in Xenon Pharmaceuticals in the third quarter worth $102,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Xenon Pharmaceuticals by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company’s stock worth $106,000 after purchasing an additional 487 shares in the last quarter. Quarry LP boosted its holdings in Xenon Pharmaceuticals by 207.7% during the second quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock valued at $156,000 after acquiring an additional 2,700 shares during the period. Finally, EntryPoint Capital LLC bought a new stake in Xenon Pharmaceuticals during the first quarter valued at about $195,000. 95.45% of the stock is currently owned by institutional investors.

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.