Xenon Pharmaceuticals Sees Unusually High Options Volume (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 is an increase of approximately 2,362% compared to the typical volume of 165 put options.

Wall Street Analyst Weigh In

XENE has been the topic of a number of research reports. Stifel Nicolaus raised their price target on Xenon Pharmaceuticals from $53.00 to $62.00 and gave the stock a “buy” rating in a research note on Monday, December 18th. Robert W. Baird initiated coverage on Xenon Pharmaceuticals in a research note on Friday, December 8th. They issued an “outperform” rating and a $63.00 price target on the stock. Royal Bank of Canada dropped their price target on Xenon Pharmaceuticals from $56.00 to $55.00 and set an “outperform” rating on the stock in a research note on Friday, March 1st. JPMorgan Chase & Co. raised their price target on Xenon Pharmaceuticals from $54.00 to $59.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 19th. Finally, Wedbush raised their price target on Xenon Pharmaceuticals from $46.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $58.67.

View Our Latest Report on Xenon Pharmaceuticals

Xenon Pharmaceuticals Stock Down 0.4 %

NASDAQ:XENE opened at $41.30 on Thursday. The business’s 50-day simple moving average is $45.97 and its two-hundred day simple moving average is $40.34. The stock has a market cap of $3.12 billion, a PE ratio of -15.18 and a beta of 1.15. Xenon Pharmaceuticals has a 52 week low of $27.99 and a 52 week high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENEGet Free Report) last posted its quarterly earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.64) EPS for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.12. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.57) EPS. Sell-side analysts anticipate that Xenon Pharmaceuticals will post -3.04 earnings per share for the current fiscal year.

Insider Activity at Xenon Pharmaceuticals

In related news, EVP Sherrington Robin sold 7,137 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $46.28, for a total transaction of $330,300.36. Following the completion of the transaction, the executive vice president now owns 8,398 shares of the company’s stock, valued at approximately $388,659.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Xenon Pharmaceuticals news, EVP Sherrington Robin sold 7,137 shares of Xenon Pharmaceuticals stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $46.28, for a total value of $330,300.36. Following the completion of the sale, the executive vice president now owns 8,398 shares of the company’s stock, valued at approximately $388,659.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Steven Gannon sold 13,000 shares of Xenon Pharmaceuticals stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $46.28, for a total value of $601,640.00. Following the completion of the sale, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $92,560. The disclosure for this sale can be found here. 5.43% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Xenon Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its holdings in shares of Xenon Pharmaceuticals by 33.4% in the first quarter. JPMorgan Chase & Co. now owns 6,371 shares of the biopharmaceutical company’s stock worth $194,000 after purchasing an additional 1,596 shares during the last quarter. Citigroup Inc. increased its holdings in shares of Xenon Pharmaceuticals by 4,353.5% in the first quarter. Citigroup Inc. now owns 102,475 shares of the biopharmaceutical company’s stock worth $3,133,000 after purchasing an additional 100,174 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Xenon Pharmaceuticals by 8.3% in the first quarter. BlackRock Inc. now owns 614,957 shares of the biopharmaceutical company’s stock worth $18,801,000 after purchasing an additional 47,385 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Xenon Pharmaceuticals by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 293,729 shares of the biopharmaceutical company’s stock worth $8,979,000 after purchasing an additional 1,783 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in shares of Xenon Pharmaceuticals by 46.2% in the first quarter. Allianz Asset Management GmbH now owns 102,185 shares of the biopharmaceutical company’s stock worth $3,123,000 after purchasing an additional 32,280 shares during the last quarter. 95.45% of the stock is owned by institutional investors.

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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