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

Xenon Pharmaceuticals (NASDAQ:XENE) posted its earnings results on Monday. The biopharmaceutical company reported ($1.15) EPS for the quarter, beating analysts’ consensus estimates of ($1.16) by $0.01, Zacks reports. During the same quarter last year, the firm posted ($0.81) earnings per share. The firm’s quarterly revenue was up .0% compared to the same quarter last year.

Xenon Pharmaceuticals Stock Performance

XENE stock opened at $41.12 on Tuesday. The company’s 50 day moving average price is $39.40 and its 200 day moving average price is $35.38. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of -11.58 and a beta of 1.14. Xenon Pharmaceuticals has a fifty-two week low of $26.74 and a fifty-two week high of $46.00.

Insider Buying and Selling

In other Xenon Pharmaceuticals news, CEO Ian Mortimer sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $40.16, for a total transaction of $1,004,000.00. Following the completion of the transaction, the chief executive officer owned 31,302 shares in the company, valued at $1,257,088.32. The trade was a 44.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 4.07% of the stock is owned by company insiders.

Hedge Funds Weigh In On Xenon Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of XENE. Osaic Holdings Inc. raised its stake in Xenon Pharmaceuticals by 541.4% in the second quarter. Osaic Holdings Inc. now owns 1,225 shares of the biopharmaceutical company’s stock valued at $40,000 after buying an additional 1,034 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Xenon Pharmaceuticals by 10,614.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,357 shares of the biopharmaceutical company’s stock valued at $168,000 after purchasing an additional 5,307 shares in the last quarter. Jump Financial LLC purchased a new position in Xenon Pharmaceuticals in the second quarter valued at approximately $532,000. BNP Paribas Financial Markets raised its holdings in Xenon Pharmaceuticals by 455.9% during the second quarter. BNP Paribas Financial Markets now owns 17,844 shares of the biopharmaceutical company’s stock worth $559,000 after purchasing an additional 14,634 shares in the last quarter. Finally, Oxford Asset Management LLP grew its position in shares of Xenon Pharmaceuticals by 242.4% in the 2nd quarter. Oxford Asset Management LLP now owns 21,138 shares of the biopharmaceutical company’s stock valued at $662,000 after buying an additional 14,964 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Wall Street Analysts Forecast Growth

XENE has been the topic of several recent analyst reports. Bloom Burton upgraded shares of Xenon Pharmaceuticals to a “strong-buy” rating in a report on Tuesday, October 7th. William Blair restated an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Tuesday, October 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research note on Tuesday, October 14th. Wedbush boosted their price objective on Xenon Pharmaceuticals from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Tuesday, August 12th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Xenon Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $53.67.

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.