Xenon Pharmaceuticals Inc. (NASDAQ:XENE – Get Free Report) saw some unusual options trading on Wednesday. Traders acquired 4,063 put options on the company. This represents an increase of 2,362% compared to the typical daily volume of 165 put options.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on the company. HC Wainwright assumed coverage on Xenon Pharmaceuticals in a research note on Tuesday. They issued a “buy” rating and a $53.00 price target on the stock. Needham & Company LLC cut their target price on Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday, September 3rd. 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. Finally, Wedbush cut 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. One investment analyst has rated the stock with a sell rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $58.20.
Check Out Our Latest Research Report on XENE
Hedge Funds Weigh In On Xenon Pharmaceuticals
Xenon Pharmaceuticals Stock Down 2.8 %
NASDAQ XENE opened at $39.70 on Friday. Xenon Pharmaceuticals has a 52-week low of $27.99 and a 52-week high of $50.99. The business’s 50-day moving average price is $40.17 and its 200 day moving average price is $40.30. The firm has a market cap of $3.00 billion, a P/E ratio of -14.65 and a beta of 1.25.
Xenon Pharmaceuticals (NASDAQ:XENE – Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.05). During the same period in the previous year, the firm earned ($0.72) earnings per share. As a group, analysts anticipate that Xenon Pharmaceuticals will post -3.16 earnings per share for the current year.
About Xenon Pharmaceuticals
Xenon Pharmaceuticals Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN496, a Kv7 potassium channel opener that is Phase III clinical trials for the treatment of KCNQ2 developmental and epileptic encephalopathy; and XEN1101, a Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.
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