Wedbush Expects Weaker Earnings for Xenon Pharmaceuticals

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) – Research analysts at Wedbush decreased their FY2029 earnings per share estimates for shares of Xenon Pharmaceuticals in a note issued to investors on Tuesday, November 4th. Wedbush analyst L. Chico now forecasts that the biopharmaceutical company will post earnings per share of $4.70 for the year, down from their prior estimate of $4.71. Wedbush currently has a “Outperform” rating and a $43.00 target price on the stock. The consensus estimate for Xenon Pharmaceuticals’ current full-year earnings is ($3.10) per share.

Other equities research analysts have also issued research reports about the company. Wells Fargo & Company reaffirmed an “overweight” rating and set a $44.00 price target (down previously from $48.00) on shares of Xenon Pharmaceuticals in a research note on Tuesday. Chardan Capital reiterated a “buy” rating and issued a $55.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday, October 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research note on Tuesday, October 14th. Bloom Burton raised Xenon Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, October 7th. Finally, William Blair reissued an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Xenon Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.70.

Xenon Pharmaceuticals Price Performance

Shares of NASDAQ:XENE opened at $38.30 on Wednesday. Xenon Pharmaceuticals has a one year low of $26.74 and a one year high of $46.00. The company’s fifty day moving average price is $39.40 and its 200-day moving average price is $35.45. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of -10.79 and a beta of 1.10.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its earnings results on Monday, November 3rd. The biopharmaceutical company reported ($1.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.16) by $0.01. During the same quarter in the previous year, the company earned ($0.81) earnings per share. Xenon Pharmaceuticals’s revenue for the quarter was up .0% compared to the same quarter last year.

Institutional Trading of Xenon Pharmaceuticals

Several large investors have recently modified their holdings of XENE. Farther Finance Advisors LLC bought a new position in Xenon Pharmaceuticals during the 2nd quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Xenon Pharmaceuticals during the first quarter valued at approximately $30,000. Elevation Point Wealth Partners LLC bought a new position in shares of Xenon Pharmaceuticals during the second quarter valued at approximately $32,000. Osaic Holdings Inc. raised its holdings in shares of Xenon Pharmaceuticals by 541.4% during the second quarter. Osaic Holdings Inc. now owns 1,225 shares of the biopharmaceutical company’s stock valued at $40,000 after acquiring an additional 1,034 shares in the last quarter. Finally, L1 Capital Pty Ltd purchased a new stake in Xenon Pharmaceuticals in the second quarter worth $41,000. 95.45% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Ian Mortimer sold 25,000 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $40.16, for a total transaction of $1,004,000.00. Following the completion of the transaction, the chief executive officer directly owned 31,302 shares of the company’s stock, valued at approximately $1,257,088.32. This represents a 44.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 4.07% of the company’s stock.

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.