Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Expected to Post Quarterly Sales of $3.70 Million


Share on StockTwits

Equities analysts predict that Xenon Pharmaceuticals Inc. (NASDAQ:XENE) will report $3.70 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Xenon Pharmaceuticals’ earnings. The highest sales estimate is $5.50 million and the lowest is $2.50 million. Xenon Pharmaceuticals posted sales of $7.08 million during the same quarter last year, which suggests a negative year-over-year growth rate of 47.7%. The business is expected to announce its next quarterly earnings report on Thursday, May 20th.

On average, analysts expect that Xenon Pharmaceuticals will report full year sales of $20.59 million for the current fiscal year, with estimates ranging from $11.30 million to $36.50 million. For the next year, analysts expect that the company will post sales of $29.76 million, with estimates ranging from $6.70 million to $56.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Xenon Pharmaceuticals.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings results on Monday, March 1st. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.40) by $0.06. The company had revenue of $5.15 million during the quarter, compared to analysts’ expectations of $3.50 million. Xenon Pharmaceuticals had a negative net margin of 102.25% and a negative return on equity of 21.76%.

XENE has been the subject of several research analyst reports. William Blair reiterated a “buy” rating on shares of Xenon Pharmaceuticals in a report on Friday, March 5th. Zacks Investment Research cut shares of Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday. Needham & Company LLC increased their target price on shares of Xenon Pharmaceuticals from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, March 8th. Finally, SVB Leerink increased their target price on shares of Xenon Pharmaceuticals from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Monday, March 8th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $23.00.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Credit Suisse AG raised its position in Xenon Pharmaceuticals by 35.0% during the fourth quarter. Credit Suisse AG now owns 18,478 shares of the biopharmaceutical company’s stock worth $283,000 after acquiring an additional 4,793 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Xenon Pharmaceuticals during the fourth quarter worth $157,000. Raymond James Financial Services Advisors Inc. bought a new stake in Xenon Pharmaceuticals during the fourth quarter worth $158,000. Accel Wealth Management bought a new stake in Xenon Pharmaceuticals during the fourth quarter worth $138,000. Finally, Bank of New York Mellon Corp raised its position in Xenon Pharmaceuticals by 27.1% during the fourth quarter. Bank of New York Mellon Corp now owns 949,238 shares of the biopharmaceutical company’s stock worth $14,599,000 after acquiring an additional 202,435 shares in the last quarter. 79.90% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Xenon Pharmaceuticals stock traded down $0.28 on Tuesday, hitting $18.35. The company had a trading volume of 93,042 shares, compared to its average volume of 183,065. The firm has a market capitalization of $751.67 million, a P/E ratio of -18.92 and a beta of 1.20. Xenon Pharmaceuticals has a twelve month low of $9.32 and a twelve month high of $21.94. The stock has a 50-day moving average of $18.44 and a 200-day moving average of $15.19.

About Xenon Pharmaceuticals

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 modulator that is Phase III clinical trials for the treatment of KCNQ2 epilepsy encephalopathy; and XEN1101, A Kv7 potassium channel modulator, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.

Read More: CAC 40 Index

Get a free copy of the Zacks research report on Xenon Pharmaceuticals (XENE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Xenon Pharmaceuticals (NASDAQ:XENE)

Receive News & Ratings for Xenon Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Xenon Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.