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.
Lithium is the most precious commodity of the green revolution, and experts predict an exploding demand for the energy metal. Surrounded by multi-billion dollar assets, one little-known small-cap company in a renowned location in South America may become a strong link in the lithium supply chain due to a monster acquisition.
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Should you invest $1,000 in Xenon Pharmaceuticals right now?
Before you consider Xenon Pharmaceuticals, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Xenon Pharmaceuticals wasn’t on the list.
While Xenon Pharmaceuticals currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
