Xenon Pharmaceuticals Inc (NASDAQ:XENE) Expected to Announce Quarterly Sales of $7.50 Million

Brokerages expect Xenon Pharmaceuticals Inc (NASDAQ:XENE) to post $7.50 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Xenon Pharmaceuticals’ earnings. The highest sales estimate is $10.00 million and the lowest is $5.00 million. The business is expected to report its next quarterly earnings report on Tuesday, August 4th.

On average, analysts expect that Xenon Pharmaceuticals will report full year sales of $28.75 million for the current year, with estimates ranging from $11.25 million to $45.00 million. For the next financial year, analysts anticipate that the company will post sales of $67.33 million, with estimates ranging from $10.00 million to $97.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Xenon Pharmaceuticals.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings results on Thursday, May 21st. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.32) by $0.10. The business had revenue of $7.08 million for the quarter, compared to the consensus estimate of $7.50 million.

XENE has been the subject of several recent analyst reports. ValuEngine raised Xenon Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Monday, March 9th. Zacks Investment Research cut shares of Xenon Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Wedbush assumed coverage on shares of Xenon Pharmaceuticals in a research note on Tuesday, March 24th. They issued an “outperform” rating and a $23.00 price target for the company. William Blair reiterated a “buy” rating on shares of Xenon Pharmaceuticals in a research note on Friday. Finally, BidaskClub upgraded Xenon Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, March 28th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $21.33.

Institutional investors and hedge funds have recently made changes to their positions in the company. Orbimed Advisors LLC lifted its stake in Xenon Pharmaceuticals by 161.9% during the first quarter. Orbimed Advisors LLC now owns 1,662,812 shares of the biopharmaceutical company’s stock valued at $18,856,000 after purchasing an additional 1,028,000 shares during the last quarter. Parkman Healthcare Partners LLC bought a new position in shares of Xenon Pharmaceuticals in the fourth quarter valued at $7,709,000. Rock Springs Capital Management LP acquired a new stake in shares of Xenon Pharmaceuticals during the 1st quarter valued at $5,670,000. Driehaus Capital Management LLC bought a new stake in shares of Xenon Pharmaceuticals during the 1st quarter worth $5,243,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Xenon Pharmaceuticals by 174.5% in the 1st quarter. Bank of New York Mellon Corp now owns 675,876 shares of the biopharmaceutical company’s stock worth $7,664,000 after acquiring an additional 429,613 shares during the last quarter. 57.21% of the stock is currently owned by institutional investors.

XENE traded up $1.03 during trading hours on Monday, hitting $14.90. The company’s stock had a trading volume of 466,180 shares, compared to its average volume of 136,822. The company has a 50-day simple moving average of $12.67 and a 200 day simple moving average of $13.10. The company has a quick ratio of 3.34, a current ratio of 3.34 and a debt-to-equity ratio of 0.13. Xenon Pharmaceuticals has a fifty-two week low of $7.00 and a fifty-two week high of $18.45.

About Xenon Pharmaceuticals

Xenon Pharmaceuticals, Inc engages in discovering and developing therapeutics to improve the lives of patients with neurological disorders. It focuses on the treatment of epilepsy. Its products include XEN496, XEN1101, XEN901, and XEN007. The company was founded by Simon Neil Pimstone, Johannes J. P.

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

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