$6.38 Million in Sales Expected for Xenon Pharmaceuticals Inc (XENE) This Quarter

Brokerages forecast that Xenon Pharmaceuticals Inc (NASDAQ:XENE) will post $6.38 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Xenon Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $250,000.00 and the highest estimate coming in at $12.50 million. Xenon Pharmaceuticals posted sales of $380,000.00 in the same quarter last year, which suggests a positive year-over-year growth rate of 1,578.9%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, March 14th.

According to Zacks, analysts expect that Xenon Pharmaceuticals will report full year sales of $6.38 million for the current financial year, with estimates ranging from $550,000.00 to $12.80 million. For the next fiscal year, analysts anticipate that the company will report sales of $7.75 million per share, with estimates ranging from $2.00 million to $13.50 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Xenon Pharmaceuticals.

Separately, Zacks Investment Research upgraded Xenon Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, October 5th.

Xenon Pharmaceuticals (NASDAQ XENE) traded up $0.05 during trading on Wednesday, reaching $2.88. The company’s stock had a trading volume of 70,000 shares, compared to its average volume of 53,350. Xenon Pharmaceuticals has a 1-year low of $2.10 and a 1-year high of $9.95. The stock has a market cap of $50.85, a price-to-earnings ratio of -1.81 and a beta of 1.32.

In related news, Director Mohammad Azab acquired 15,000 shares of the stock in a transaction on Wednesday, November 15th. The shares were acquired at an average price of $2.22 per share, for a total transaction of $33,300.00. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 9.40% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. DAFNA Capital Management LLC boosted its position in Xenon Pharmaceuticals by 11.2% in the 2nd quarter. DAFNA Capital Management LLC now owns 377,695 shares of the biopharmaceutical company’s stock worth $1,190,000 after purchasing an additional 38,081 shares in the last quarter. K2 Principal Fund L.P. raised its stake in shares of Xenon Pharmaceuticals by 40.6% during the 2nd quarter. K2 Principal Fund L.P. now owns 164,510 shares of the biopharmaceutical company’s stock worth $518,000 after buying an additional 47,535 shares during the period. Finally, Scotia Capital Inc. raised its stake in shares of Xenon Pharmaceuticals by 36.0% during the 2nd quarter. Scotia Capital Inc. now owns 35,629 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 9,426 shares during the period. Institutional investors and hedge funds own 54.62% of the company’s stock.

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About Xenon Pharmaceuticals

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

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