Brokers Issue Forecasts for Xenon Pharmaceuticals Inc.’s Q2 2022 Earnings (NASDAQ:XENE)
Xenon Pharmaceuticals Inc. (NASDAQ:XENE – Get Rating) – Investment analysts at Wedbush dropped their Q2 2022 earnings per share estimates for shares of Xenon Pharmaceuticals in a research note issued to investors on Monday, June 27th. Wedbush analyst L. Chico now forecasts that the biopharmaceutical company will post earnings of ($0.53) per share for the quarter, down from their previous forecast of ($0.51). Wedbush currently has a “Outperform” rating and a $41.00 target price on the stock. The consensus estimate for Xenon Pharmaceuticals’ current full-year earnings is ($2.09) per share. Wedbush also issued estimates for Xenon Pharmaceuticals’ Q3 2022 earnings at ($0.52) EPS, Q4 2022 earnings at ($0.59) EPS, FY2022 earnings at ($2.01) EPS, Q1 2023 earnings at ($0.62) EPS, Q2 2023 earnings at ($0.67) EPS, Q3 2023 earnings at ($0.71) EPS, Q4 2023 earnings at ($0.76) EPS, FY2023 earnings at ($2.77) EPS, FY2024 earnings at ($3.63) EPS, FY2025 earnings at ($3.34) EPS and FY2026 earnings at $0.71 EPS. Xenon Pharmaceuticals (NASDAQ:XENE – Get Rating) last posted its quarterly earnings data on Tuesday, May 10th. The biopharmaceutical company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.03. The firm had revenue of $8.77 million during the quarter, compared to analysts’ expectations of $9.22 million. Xenon Pharmaceuticals had a negative return on equity of 20.94% and a negative net margin of 360.80%. During the same quarter last year, the business posted ($0.42) EPS.
Several other equities analysts have also weighed in on the company. StockNews.com lowered Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday. William Blair reaffirmed an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Wednesday, March 2nd. Finally, TheStreet raised Xenon Pharmaceuticals from a “d+” rating to a “c” rating in a research note on Monday, March 14th. One analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.40.
XENE opened at $30.11 on Wednesday. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of -16.82 and a beta of 1.76. The business has a 50-day moving average of $29.38 and a two-hundred day moving average of $30.04. Xenon Pharmaceuticals has a 12 month low of $14.65 and a 12 month high of $36.42.
Institutional investors and hedge funds have recently made changes to their positions in the business. New York State Common Retirement Fund bought a new stake in shares of Xenon Pharmaceuticals in the 4th quarter valued at approximately $253,000. Schonfeld Strategic Advisors LLC increased its holdings in shares of Xenon Pharmaceuticals by 24.3% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 120,121 shares of the biopharmaceutical company’s stock valued at $1,836,000 after acquiring an additional 23,521 shares during the last quarter. Alps Advisors Inc. increased its holdings in shares of Xenon Pharmaceuticals by 18.4% in the 4th quarter. Alps Advisors Inc. now owns 59,702 shares of the biopharmaceutical company’s stock valued at $1,865,000 after acquiring an additional 9,287 shares during the last quarter. Brown Advisory Inc. bought a new stake in shares of Xenon Pharmaceuticals in the 4th quarter valued at approximately $403,000. Finally, Sender Co & Partners Inc. bought a new stake in shares of Xenon Pharmaceuticals in the 4th quarter valued at approximately $382,000.
About Xenon Pharmaceuticals (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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