Xenon Pharmaceuticals Sees Unusually High Options Volume (NASDAQ:XENE)

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) was the target of unusually large options trading on Wednesday. Investors bought 4,063 put options on the stock. This is an increase of approximately 2,362% compared to the typical daily volume of 165 put options.

Xenon Pharmaceuticals Stock Performance

Shares of XENE opened at $40.04 on Friday. The stock has a fifty day moving average of $39.44 and a two-hundred day moving average of $35.53. The company has a market capitalization of $3.09 billion, a PE ratio of -11.28 and a beta of 1.10. Xenon Pharmaceuticals has a fifty-two week low of $26.74 and a fifty-two week high of $44.23.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings data on Monday, November 3rd. The biopharmaceutical company reported ($1.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.16) by $0.01. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the firm posted ($0.81) EPS. As a group, equities research analysts forecast that Xenon Pharmaceuticals will post -3.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Xenon Pharmaceuticals

In related news, CEO Ian Mortimer sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $40.16, for a total value of $1,004,000.00. Following the completion of the transaction, the chief executive officer directly owned 31,302 shares of the company’s stock, valued at $1,257,088.32. This trade represents a 44.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.07% of the stock is currently owned by corporate insiders.

Institutional Trading of Xenon Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. Atika Capital Management LLC acquired a new position in shares of Xenon Pharmaceuticals during the 3rd quarter valued at about $1,526,000. BNP Paribas Financial Markets boosted its position in shares of Xenon Pharmaceuticals by 792.4% in the third quarter. BNP Paribas Financial Markets now owns 159,238 shares of the biopharmaceutical company’s stock worth $6,393,000 after acquiring an additional 141,394 shares during the last quarter. Franklin Resources Inc. grew its holdings in Xenon Pharmaceuticals by 4.4% in the third quarter. Franklin Resources Inc. now owns 695,900 shares of the biopharmaceutical company’s stock valued at $27,940,000 after purchasing an additional 29,434 shares during the period. Swiss National Bank grew its holdings in Xenon Pharmaceuticals by 1.7% in the third quarter. Swiss National Bank now owns 126,400 shares of the biopharmaceutical company’s stock valued at $5,075,000 after purchasing an additional 2,100 shares during the period. Finally, Russell Investments Group Ltd. increased its position in Xenon Pharmaceuticals by 34.1% during the third quarter. Russell Investments Group Ltd. now owns 69,892 shares of the biopharmaceutical company’s stock worth $2,806,000 after purchasing an additional 17,756 shares during the last quarter. 95.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a research report on Tuesday, November 4th. Wedbush raised their target price on shares of Xenon Pharmaceuticals from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Tuesday, August 12th. Royal Bank Of Canada lifted their target price on shares of Xenon Pharmaceuticals from $55.00 to $58.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. Bloom Burton upgraded shares of Xenon Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, October 7th. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $44.00 price objective (down from $48.00) on shares of Xenon Pharmaceuticals in a research note on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.70.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals Inc, a neuroscience-focused biopharmaceutical company, engages in the development of therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN1101, a novel and potent Kv7 potassium channel opener, which is in Phase 3 clinical trials for the treatment of epilepsy and other neurological disorders.