Stock Traders Buy High Volume of Put Options on Xenon Pharmaceuticals (NASDAQ:XENE)

Xenon Pharmaceuticals Inc. (NASDAQ:XENEGet 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

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP purchased a new position in shares of Xenon Pharmaceuticals during the first quarter worth about $930,000. Perceptive Advisors LLC boosted its holdings in Xenon Pharmaceuticals by 78.3% in the 4th quarter. Perceptive Advisors LLC now owns 1,100,748 shares of the biopharmaceutical company’s stock valued at $50,700,000 after purchasing an additional 483,248 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Xenon Pharmaceuticals by 647.8% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 24,116 shares of the biopharmaceutical company’s stock valued at $940,000 after purchasing an additional 20,891 shares in the last quarter. Capital International Investors boosted its holdings in Xenon Pharmaceuticals by 0.8% in the 1st quarter. Capital International Investors now owns 2,475,859 shares of the biopharmaceutical company’s stock valued at $106,586,000 after purchasing an additional 20,176 shares in the last quarter. Finally, Westfield Capital Management Co. LP boosted its holdings in Xenon Pharmaceuticals by 46.3% in the 1st quarter. Westfield Capital Management Co. LP now owns 347,351 shares of the biopharmaceutical company’s stock valued at $14,953,000 after purchasing an additional 109,856 shares in the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

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:XENEGet 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

(Get Free Report)

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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