Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Expected to Post Quarterly Sales of $6.63 Million
Analysts predict that Xenon Pharmaceuticals Inc. (NASDAQ:XENE) will report $6.63 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Xenon Pharmaceuticals’ earnings, with estimates ranging from $500,000.00 to $12.75 million. Xenon Pharmaceuticals reported sales of $410,000.00 in the same quarter last year, which indicates a positive year over year growth rate of 1,517.1%. The business is scheduled to issue its next earnings results on Thursday, November 2nd.
On average, analysts expect that Xenon Pharmaceuticals will report full year sales of $6.63 million for the current year, with estimates ranging from $13.27 million to $13.52 million. For the next fiscal year, analysts expect that the firm will report sales of $6.00 million per share. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Xenon Pharmaceuticals.
Xenon Pharmaceuticals (NASDAQ:XENE) last posted its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.41) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.38) by $0.03. Xenon Pharmaceuticals had a negative return on equity of 47.53% and a negative net margin of 3,489.63%. The firm had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.38 million.
A number of research analysts recently commented on the company. Jefferies Group LLC reaffirmed a “buy” rating and issued a $8.00 price target on shares of Xenon Pharmaceuticals in a research note on Monday, June 12th. Canaccord Genuity reaffirmed a “buy” rating and issued a $5.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, June 27th. Finally, Zacks Investment Research raised Xenon Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, July 1st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $11.88.
Shares of Xenon Pharmaceuticals (XENE) opened at 3.05 on Tuesday. Xenon Pharmaceuticals has a one year low of $2.85 and a one year high of $9.95. The company’s market cap is $54.89 million. The firm’s 50-day moving average is $3.46 and its 200-day moving average is $5.32.
In other Xenon Pharmaceuticals news, insider Value Fund L. P. Biotechnology bought 85,461 shares of the firm’s stock in a transaction on Tuesday, June 27th. The shares were purchased at an average price of $4.00 per share, for a total transaction of $341,844.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Value Fund L. P. Biotechnology bought 20,411 shares of the firm’s stock in a transaction on Thursday, June 22nd. The stock was acquired at an average price of $4.00 per share, for a total transaction of $81,644.00. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 490,978 shares of company stock worth $1,891,534. Company insiders own 9.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Endurant Capital Management LP acquired a new position in Xenon Pharmaceuticals during the first quarter worth about $1,363,000. Sabby Management LLC acquired a new position in Xenon Pharmaceuticals during the first quarter worth about $1,186,000. KCG Holdings Inc. acquired a new position in Xenon Pharmaceuticals during the first quarter worth about $122,000. Renaissance Technologies LLC boosted its position in Xenon Pharmaceuticals by 90.1% in the first quarter. Renaissance Technologies LLC now owns 217,090 shares of the biopharmaceutical company’s stock worth $868,000 after buying an additional 102,890 shares in the last quarter. Finally, K2 Principal Fund L.P. boosted its position in Xenon Pharmaceuticals by 104.4% in the first quarter. K2 Principal Fund L.P. now owns 116,975 shares of the biopharmaceutical company’s stock worth $468,000 after buying an additional 59,747 shares in the last quarter. Hedge funds and other institutional investors own 56.01% of the company’s stock.
Xenon Pharmaceuticals Company Profile
Xenon Pharmaceuticals Inc is a Canada-based clinical-stage biopharmaceutical company. It is engaged in discovering and developing a pipeline of differentiated therapeutics for orphan indications. Its product pipeline includes: Glybera, TV-45070, GDC-0310, XEN901 (Nav1.6 inhibitor) and XEN1101. Glybera is used for the treatment of lipoprotein lipase deficiency (LPLD).
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