Xenon Pharmaceuticals (NASDAQ:XENE) Releases Earnings Results, Beats Estimates By $0.02 EPS

Key Points

• Xenon Pharmaceuticals reported quarterly EPS of ($1.11), beating analysts’ estimate of ($1.13) by $0.02.
• Shares rose 3.1% to $40.39 on Monday. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $71.31.
• CEO Ian Mortimer and CFO Thomas Patrick Kelly bought a combined 45,000 shares, spending approximately $1.68 million.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) announced its quarterly earnings data on Monday. The biopharmaceutical company reported ($1.11) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.13) by $0.02, FiscalAI reports.

Xenon Pharmaceuticals Stock Up 3.1%

NASDAQ:XENE traded up $1.22 on Monday, hitting $40.39. The stock had a trading volume of 990,750 shares, compared to its average volume of 1,386,516. The business's fifty day moving average is $43.04 and its 200 day moving average is $52.15. The company has a market cap of $3.90 billion, a PE ratio of -8.52 and a beta of 0.11. Xenon Pharmaceuticals has a 52 week low of $33.38 and a 52 week high of $72.66.

Wall Street Analyst Weigh In

Several research firms recently weighed in on XENE. Robert W. Baird cut their price objective on Xenon Pharmaceuticals from $97.00 to $90.00 and set an "outperform" rating on the stock in a report on Friday, September 18th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $90.00 price objective on shares of Xenon Pharmaceuticals in a research note on Monday, September 28th. Deutsche Bank Aktiengesellschaft cut Xenon Pharmaceuticals from a "buy" rating to a "hold" rating and decreased their target price for the stock from $90.00 to $46.00 in a research note on Friday, September 18th. Guggenheim initiated coverage on shares of Xenon Pharmaceuticals in a report on Tuesday, October 6th. They issued a "buy" rating and a $73.00 price target for the company. Finally, Wells Fargo & Company decreased their price target on shares of Xenon Pharmaceuticals from $69.00 to $64.00 and set an "overweight" rating for the company in a research note on Friday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $71.31.

Insider Transactions at Xenon Pharmaceuticals

In other news, CFO Thomas Patrick Kelly acquired 15,000 shares of the firm's stock in a transaction dated Wednesday, September 30th. The stock was purchased at an average price of $37.32 per share, for a total transaction of $559,800.00. Following the completion of the acquisition, the chief financial officer directly owned 15,000 shares in the company, valued at $559,800. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Ian Mortimer bought 30,000 shares of the stock in a transaction dated Wednesday, September 30th. The shares were purchased at an average cost of $37.38 per share, for a total transaction of $1,121,400.00. Following the completion of the transaction, the chief executive officer directly owned 49,923 shares of the company's stock, valued at $1,866,121.74. This trade represents a 150.58% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 2.91% of the company's stock.

About Xenon Pharmaceuticals

Xenon Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing medicines for neurological disorders. The company's research emphasizes ion channels, proteins that help regulate the electrical activity of nerve cells.

Its lead program is azetukalner, formerly known as XEN1101, an oral Kv7 potassium-channel opener being developed for seizure disorders, including focal epilepsy. Xenon is also advancing other drug candidates aimed at neurological conditions.

Founded in 1996, Xenon is headquartered in Burnaby, British Columbia, and conducts drug development activities in North America.

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