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

Xenon Pharmaceuticals (NASDAQ:XENE) announced its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.01, Briefing.com reports. During the same quarter in the prior year, the company earned ($0.73) earnings per share.

Xenon Pharmaceuticals Trading Down 3.3 %

Shares of NASDAQ:XENE opened at $41.97 on Thursday. Xenon Pharmaceuticals has a 12 month low of $28.10 and a 12 month high of $50.99. The firm’s 50-day moving average is $41.11 and its 200 day moving average is $40.34.

Analysts Set New Price Targets

A number of research firms recently commented on XENE. Wedbush decreased their target price on Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 target price on shares of Xenon Pharmaceuticals in a research report on Friday, August 9th. Needham & Company LLC reissued a “buy” rating and issued a $60.00 target price on shares of Xenon Pharmaceuticals in a report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, September 3rd. Finally, Raymond James reissued an “outperform” rating and issued a $50.00 price objective on shares of Xenon Pharmaceuticals in a research note on Thursday, October 10th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $57.45.

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.