Analysts Offer Predictions for Xenon Pharmaceuticals Inc.’s Q2 2022 Earnings (NASDAQ:XENE)

Xenon Pharmaceuticals Inc. (NASDAQ:XENE – Get Rating) – Equities researchers at Wedbush upped their Q2 2022 earnings estimates for shares of Xenon Pharmaceuticals in a research note issued on Wednesday, May 11th. Wedbush analyst L. Chico now expects that the biopharmaceutical company will post earnings of ($0.51) per share for the quarter, up from their previous estimate of ($0.53). Wedbush has a “Outperform” rating on the stock. Wedbush also issued estimates for Xenon Pharmaceuticals’ Q3 2022 earnings at ($0.57) EPS, Q4 2022 earnings at ($0.63) EPS, FY2022 earnings at ($2.07) EPS, Q1 2023 earnings at ($0.73) EPS, Q2 2023 earnings at ($0.77) EPS, FY2023 earnings at ($3.14) EPS and FY2024 earnings at ($3.13) EPS.

Xenon Pharmaceuticals (NASDAQ:XENE – Get Rating) last announced its earnings results on Tuesday, May 10th. The biopharmaceutical company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.03. Xenon Pharmaceuticals had a negative return on equity of 24.14% and a negative net margin of 425.88%. During the same quarter in the previous year, the company earned ($0.42) earnings per share.

XENE has been the subject of several other research reports. StockNews.com began coverage on Xenon Pharmaceuticals in a report on Thursday, March 31st. They issued a “sell” rating for the company. Zacks Investment Research upgraded Xenon Pharmaceuticals from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research report on Wednesday, May 4th. William Blair reiterated an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Wednesday, March 2nd. Finally, TheStreet upgraded Xenon Pharmaceuticals from a “d+” rating to a “c” rating in a research note on Monday, March 14th. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Xenon Pharmaceuticals has a consensus rating of “Buy” and an average target price of $41.80.

Shares of Xenon Pharmaceuticals stock opened at $27.44 on Friday. The business has a 50 day simple moving average of $30.90 and a two-hundred day simple moving average of $30.16. Xenon Pharmaceuticals has a 12 month low of $14.65 and a 12 month high of $36.42. The stock has a market capitalization of $1.46 billion, a P/E ratio of -14.75 and a beta of 1.75.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Captrust Financial Advisors acquired a new stake in shares of Xenon Pharmaceuticals during the 3rd quarter worth $46,000. Macquarie Group Ltd. increased its holdings in shares of Xenon Pharmaceuticals by 551.9% during the 3rd quarter. Macquarie Group Ltd. now owns 3,514 shares of the biopharmaceutical company’s stock worth $54,000 after buying an additional 2,975 shares during the last quarter. Morgan Stanley increased its holdings in shares of Xenon Pharmaceuticals by 101.7% during the 1st quarter. Morgan Stanley now owns 4,959 shares of the biopharmaceutical company’s stock worth $89,000 after buying an additional 2,500 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of Xenon Pharmaceuticals by 328.5% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 7,888 shares of the biopharmaceutical company’s stock worth $121,000 after buying an additional 6,047 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of Xenon Pharmaceuticals by 14,969.8% during the 3rd quarter. Deutsche Bank AG now owns 7,987 shares of the biopharmaceutical company’s stock worth $122,000 after buying an additional 7,934 shares during the last quarter.

In other news, Director Simon N. Pimstone sold 9,325 shares of the business’s stock in a transaction that occurred on Friday, March 4th. The stock was sold at an average price of $30.61, for a total transaction of $285,438.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Sherrington Robin sold 21,710 shares of the company’s stock in a transaction that occurred on Friday, March 4th. The shares were sold at an average price of $30.50, for a total value of $662,155.00. The disclosure for this sale can be found here. Insiders sold a total of 94,974 shares of company stock worth $2,899,047 in the last ninety days. 7.48% of the stock is owned by corporate insiders.

Xenon Pharmaceuticals Company Profile (Get Rating)

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 epilepsy encephalopathy; and XEN1101, A Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.

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