Xenon Pharmaceuticals (NASDAQ:XENE) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Xenon Pharmaceuticals (NASDAQ:XENE) announced its earnings results on Tuesday. The biopharmaceutical company reported ($0.81) EPS for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.01, Briefing.com reports. During the same period in the previous year, the firm earned ($0.73) EPS.

Xenon Pharmaceuticals Stock Down 0.5 %

Shares of XENE opened at $41.75 on Friday. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of -14.80 and a beta of 1.25. Xenon Pharmaceuticals has a 52-week low of $28.10 and a 52-week high of $50.99. The stock has a 50 day moving average price of $41.14 and a 200 day moving average price of $40.35.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on XENE. Wedbush reduced their price target on shares of Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Needham & Company LLC reissued a “buy” rating and issued a $60.00 price target on shares of Xenon Pharmaceuticals in a research report on Wednesday. Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 price target on shares of Xenon Pharmaceuticals in a research note on Friday, August 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $55.00 price objective on shares of Xenon Pharmaceuticals in a research note on Tuesday, September 3rd. Finally, Raymond James reiterated an “outperform” rating and issued a $50.00 target price on shares of Xenon Pharmaceuticals in a report on Thursday, October 10th. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Xenon Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $57.45.

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.