Xenon Pharmaceuticals (NASDAQ:XENE) Announces Earnings Results, Beats Expectations By $0.07 EPS

Xenon Pharmaceuticals (NASDAQ:XENEGet Free Report) announced its earnings results on Thursday. The biopharmaceutical company reported ($0.62) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.07, Briefing.com reports. The company had revenue of $1.00 million during the quarter. The company’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.63) earnings per share.

Xenon Pharmaceuticals Stock Performance

XENE traded down $1.95 during mid-day trading on Friday, reaching $40.54. 527,882 shares of the stock were exchanged, compared to its average volume of 390,433. Xenon Pharmaceuticals has a 1 year low of $27.99 and a 1 year high of $50.99. The company has a 50 day moving average price of $42.75 and a two-hundred day moving average price of $41.57. The stock has a market capitalization of $3.06 billion, a PE ratio of -14.90 and a beta of 1.19.

Insider Transactions at Xenon Pharmaceuticals

In other Xenon Pharmaceuticals news, Director Steven Gannon sold 13,000 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $46.28, for a total transaction of $601,640.00. Following the completion of the transaction, the director now owns 2,000 shares in the company, valued at $92,560. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Steven Gannon sold 13,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $46.28, for a total transaction of $601,640.00. Following the transaction, the director now owns 2,000 shares in the company, valued at approximately $92,560. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Sherrington Robin sold 7,137 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $46.28, for a total transaction of $330,300.36. Following the sale, the executive vice president now owns 8,398 shares in the company, valued at approximately $388,659.44. The disclosure for this sale can be found here. Company insiders own 5.43% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Citigroup decreased their price objective on shares of Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating for the company in a report on Friday. Wedbush reduced their target price on shares of Xenon Pharmaceuticals from $51.00 to $50.00 and set an “outperform” rating for the company in a report on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 price target on shares of Xenon Pharmaceuticals in a research report on Wednesday, April 10th. Royal Bank of Canada dropped their price objective on Xenon Pharmaceuticals from $56.00 to $55.00 and set an “outperform” rating on the stock in a research note on Friday, March 1st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $62.00 price target on shares of Xenon Pharmaceuticals in a research note on Friday. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $59.11.

View Our Latest Report on XENE

Xenon Pharmaceuticals Company Profile

(Get Free Report)

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

See Also

Earnings History for Xenon Pharmaceuticals (NASDAQ:XENE)

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