XENE Stock Analysis: Xenon Pharmaceuticals | NASDAQ

Biotechnology | NASDAQ, USA | Market Cap: 5.680m USD | 12M Return: 5.3% | CA98420N1050 | Charts, Fundamentals & Technical Analysis

Azetukalner, Epilepsy, Pain, Sodium Channel
Total Rating 35
Safety 68
Buy Signal -1.15
Biotechnology
Industry Rotation: -5.6
Market Cap: 5.68B
Avg Turnover: 37.4M
Risk 3d forecast
Volatility41.1%
VaR 5th Pctl6.40%
VaR vs Median-5.07%
Reward TTM
Sharpe Ratio0.32
Rel. Str. IBD10
Rel. Str. Peer Group5.3
Character TTM
Beta0.183
Beta Downside0.232
Hurst Exponent0.375
Drawdowns 3y
Max DD43.98%
CAGR/Max DD0.10
CAGR/Mean DD0.24
EPS (Earnings per Share) EPS (Earnings per Share) of XENE over the last years for every Quarter: "2021-09": -0.36, "2021-12": -0.48, "2022-03": -0.35, "2022-06": -0.55, "2022-09": -0.57, "2022-12": -0.57, "2023-03": -0.63, "2023-06": -0.72, "2023-09": -0.73, "2023-12": -0.64, "2024-03": -0.62, "2024-06": -0.75, "2024-09": -0.81, "2024-12": -0.84, "2025-03": -0.83, "2025-06": -1.07, "2025-09": -1.15, "2025-12": -1.31, "2026-03": -1.17, "2026-06": -1.11,
Last SUE: 0.82
Qual. Beats: 0
Revenue Revenue of XENE over the last years for every Quarter: 2021-09: 8.124, 2021-12: 3.737, 2022-03: 8.766, 2022-06: 0.536, 2022-09: 0.132, 2022-12: 0.008766, 2023-03: 0, 2023-06: 0, 2023-09: 0, 2023-12: 5.38, 2024-03: 0, 2024-06: 0, 2024-09: 0, 2024-12: 2.516, 2025-03: 7.5, 2025-06: 0, 2025-09: 0, 2025-12: 0, 2026-03: 0, 2026-06: 0,
Last SUE: -0.45
Qual. Beats: 0

Warnings

Strong Share Dilution
Below Avwap Earnings
Below Sma 200d

Tailwinds

No distinct edge detected

Seasonality 11.6 years of data

Jan -0.9% 10
Feb +1.3% 29
Mar -4.8% 22
Apr +3.4% 16
May -3.5% 25
Jun +0.0% 2
Jul -0.3% 25
Aug +6.2% 42
Sep -7.0% 43
Oct -0.5% 0
Nov +3.4% 14
Dec +7.0% 16

How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.

Description: XENE Xenon Pharmaceuticals

Xenon Pharmaceuticals Inc. (NASDAQ: XENE) is a clinical-stage, neuroscience-focused biopharmaceutical company headquartered in Burnaby, Canada, that develops therapeutics for neurological and psychiatric disorders. Founded in 1996 and listed on NASDAQ since 2014, the company operates as a small-cap biotech within the Health Care sector, relying on equity capital and partnerships to fund its drug development pipeline.

The companys lead candidate, Azetukalner, is a Kv7 potassium channel opener currently in Phase 3 clinical trials for epilepsy (focal onset seizures and primary generalized tonic-clonic seizures) and is also being evaluated in neuropsychiatric indications including major depressive disorder and bipolar depression. Earlier-stage assets include XEN1701 (sodium channel) and XEN1120 (Kv7 potassium channel), both in Phase 1 for pain.

Xenon supplements its internal pipeline through a license and collaboration agreement with Neurocrine Biosciences for NBI-921355, a Nav1.2/1.6 sodium channel inhibitor in Phase 1 development for certain forms of epilepsy - a partnership structure commonly used by clinical-stage biotechs to share development costs and expand pipeline reach.

Headlines to Watch Out For
  • Azetukalner Phase 3 epilepsy data readout approaches
  • Neurocrine collaboration delivers milestone revenue and validation
  • Cash burn and runway concerns grow as clinical spending accelerates
Piotroski VR-10 (Strict) 0.0
Net Income: -409.2m TTM > 0 and > 6% of Revenue
FCF/TA: -0.26 > 0.02 and ΔFCF/TA 8.21 > 1.0
NWC/Revenue: 12.0k% < 20% (prev 4.66k%; Δ 7.35k% < -1%)
CFO/TA -0.26 > 3% & CFO -337.5m > Net Income -409.2m
Net Debt/EBITDA: error (EBITDA <= 0)
Current Ratio: 21.02 > 1.5 & < 3
Outstanding Shares: last quarter (99.6m) vs 12m ago 26.16% < -2%
Gross Margin: 66.09% > 18% (prev 74.44%; Δ -8.35% > 0.5%)
Asset Turnover: 0.76% > 50% (prev 1.49%; Δ -0.72% > 0%)
Interest Coverage Ratio: error (cannot be calculated; needs correct EBIT TTM and Interest Expense TTM)
Altman Z'' 10.00
A: 0.70 (Total Current Assets 945.9m - Total Current Liabilities 45.0m) / Total Assets 1.30b
B: -1.13 (Retained Earnings -1.46b / Total Assets 1.30b)
C: -0.45 (EBIT TTM -441.6m / Avg Total Assets 985.0m)
D: 23.28 (Book Value of Equity 1.24b / Total Liabilities 53.4m)
Altman-Z'' = 22.32 = AAA
Beneish M -2.22
DSRI: 1.98 (Receivables 1.63m/1.10m, Revenue 7.50m/10.0m)
GMI: 1.13 (GM 74.44% / 66.09%)
AQI: 1.11 (AQ_t 0.26 / AQ_t-1 0.23)
SGI: 0.75 (Revenue 7.50m / 10.0m)
TATA: -0.06 (NI -409.2m - CFO -337.5m) / TA 1.30b)
Beneish M = -2.22 (Cap -4..+1) = BBB
What is the price of XENE shares?

As of September 19, 2026, the stock is trading at USD 39.75 with a total of 17,845,892 shares traded. Over the past week, the price has changed by -32.23%, over one month by -37.08%, over three months by -24.87% and over the past year by +5.27%.

Current recommended Stop Loss: 37.50 (which is 5.7% or 1.2 ATR below the current price).

Is XENE a buy, sell or hold?

Xenon Pharmaceuticals has received a consensus analysts rating of 4.74. Therefore, it is recommended to buy XENE.

  • StrongBuy: 14
  • Buy: 5
  • Hold: 0
  • Sell: 0
  • StrongSell: 0

What are the forecasts/targets for the XENE price?
Analysts Target Price 81.2 104.3%
Xenon Pharmaceuticals (XENE) - Fundamental Data Overview as of 14 September 2026
Market Cap USD = 5.68b (5.68b USD * 1.0 USD.USD)
P/S = 727.4404
P/B = 4.5716
P/EG = -0.06
Revenue TTM = 7.50m USD
EBIT TTM = -441.6m USD
EBITDA TTM = -439.2m USD
Long Term Debt = 5.08m USD (estimated: total debt 6.42m - short term 1.34m)
Short Term Debt = 1.34m USD (from shortTermDebt, last quarter)
Debt = 6.42m USD (from shortLongTermDebtTotal, last quarter) (leases 6.42m already included)
Net Debt = -924.3m USD (calculated: Debt 6.42m - CCE 930.7m)
Enterprise Value = 4.76b USD (5.68b + Debt 6.42m - CCE 930.7m)
 Interest Coverage Ratio = unknown (Ebit TTM -441.6m / Interest Expense TTM 0.0)
 EV/FCF = -14.05x (Enterprise Value 4.76b / FCF TTM -338.5m)
FCF Yield = -7.12% (FCF TTM -338.5m / Enterprise Value 4.76b)
 FCF Margin = -4.51k% (FCF TTM -338.5m / Revenue TTM 7.50m)
 Net Margin = -5.46k% (Net Income TTM -409.2m / Revenue TTM 7.50m)
 Gross Margin = 66.09% ((Revenue TTM 7.50m - Cost of Revenue TTM 2.54m) / Revenue TTM)
Gross Margin QoQ = none% (prev none%)
Tobins Q-Ratio = 3.67 (Enterprise Value 4.76b / Total Assets 1.30b)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 6.42m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -348.9m (EBIT -441.6m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 21.02 (Total Current Assets 945.9m / Total Current Liabilities 45.0m)
Debt / Equity = 0.01 (Debt 6.42m / totalStockholderEquity, last quarter 1.24b)
 Debt / EBITDA = 2.10 (negative EBITDA) (Net Debt -924.3m / EBITDA -439.2m)
 Debt / FCF = 2.73 (negative FCF - burning cash) (Net Debt -924.3m / FCF TTM -338.5m)
 Total Stockholder Equity = 930.4m (last 4 quarters mean from totalStockholderEquity)
RoA = -41.54% (Net Income -409.2m / Total Assets 1.30b)
RoE = -43.98% (Net Income TTM -409.2m / Total Stockholder Equity 930.4m)
RoCE = -47.21% (EBIT -441.6m / Capital Employed (Equity 930.4m + L.T.Debt 5.08m))
 RoIC = -27.87% (negative operating profit) (NOPAT -348.9m / Invested Capital 1.25b)
 WACC = 6.62% (E(5.68b)/V(5.69b) * Re(6.63%) + D(6.42m)/V(5.69b) * Rd(0.0%) * (1-Tc(0.21)))
Discount Rate = 6.63% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 72.34 | Cagr: 11.74%
 [DCF] Fair Price = unknown (Cash Flow -338.5m)
 EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.82 | # QB: 0
Revenue Correlation: N/A | Revenue CAGR: N/A | SUE: -0.45 | # QB: 0
EPS current Quarter (2026-09-30): EPS=-1.15 | Chg30d=+0.58% | Revisions=+31% | Analysts=13
EPS current Year (2026-12-31): EPS=-4.63 | Chg30d=+0.00% | Revisions=+56% | GrowthEPS=-6.3% | GrowthRev=-83.2%
EPS next Year (2027-12-31): EPS=-4.80 | Chg30d=+1.36% | Revisions=+13% | GrowthEPS=-3.6% | GrowthRev=+2045.9%
[Analyst] Revisions Ratio: +39% (up=27, down=11)