Xenon Pharmaceuticals (NASDAQ:XENE) Announces Quarterly Earnings Results

Key Points

• Xenon Pharmaceuticals reported a quarterly loss of ($1.07) EPS, falling short of analyst estimates of ($1.03), and compared to ($0.75) EPS from the same quarter last year.
• The company's stock price increased to $34.11, with over 1 million shares traded, and it has a market cap of $2.62 billion.
• Analysts maintain a consensus rating of "Moderate Buy" for Xenon Pharmaceuticals, with a consensus price target of $54.33, despite some price target reductions from firms like Goldman Sachs.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) released its quarterly earnings results on Monday. The biopharmaceutical company reported ($1.07) EPS for the quarter, missing analysts' consensus estimates of ($1.03) by ($0.04), Zacks reports. During the same quarter last year, the firm earned ($0.75) earnings per share.

Xenon Pharmaceuticals Stock Performance

Xenon Pharmaceuticals stock traded up $0.68 during mid-day trading on Monday, reaching $34.11. 1,103,995 shares of the company were exchanged, compared to its average volume of 933,730. The business has a fifty day moving average of $32.06 and a 200 day moving average of $34.05. The firm has a market cap of $2.62 billion, a P/E ratio of -10.56 and a beta of 1.16. Xenon Pharmaceuticals has a 12-month low of $26.74 and a 12-month high of $46.00.

Institutional Trading of Xenon Pharmaceuticals

A hedge fund recently raised its stake in Xenon Pharmaceuticals stock. Goldman Sachs Group Inc. lifted its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 7.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 442,732 shares of the biopharmaceutical company's stock after purchasing an additional 32,486 shares during the quarter. Goldman Sachs Group Inc. owned about 0.58% of Xenon Pharmaceuticals worth $14,854,000 as of its most recent SEC filing. 95.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on XENE. William Blair reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Monday, May 5th. The Goldman Sachs Group cut their price target on shares of Xenon Pharmaceuticals from $60.00 to $52.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Evercore ISI began coverage on shares of Xenon Pharmaceuticals in a research report on Wednesday, May 14th. They set an "outperform" rating and a $55.00 price target for the company. Chardan Capital reissued a "buy" rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a research report on Tuesday, May 13th. Finally, Needham & Company LLC dropped their price target on shares of Xenon Pharmaceuticals from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. One analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.33.

About Xenon Pharmaceuticals

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.

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