Stock Traders Purchase Large Volume of Put Options on Xenon Pharmaceuticals (NASDAQ:XENE)

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) was the recipient of unusually large options trading activity on Wednesday. Stock traders bought 4,063 put options on the company. Thisisanincreaseofapproximately2,362% compared to the typical volume of 165 put options.

Xenon Pharmaceuticals Stock Down 0.4%

Shares of NASDAQ XENE opened at $34.27 on Thursday. Xenon Pharmaceuticals has a twelve month low of $26.74 and a twelve month high of $46.00. The firm has a fifty day simple moving average of $31.68 and a 200 day simple moving average of $34.24. The company has a market capitalization of $2.63 billion, a PE ratio of -10.61 and a beta of 1.16.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings results on Monday, May 12th. The biopharmaceutical company reported ($0.83) EPS for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.07. The company had revenue of $7.50 million during the quarter, compared to analyst estimates of $1.64 million. During the same quarter in the previous year, the business posted ($0.62) earnings per share. As a group, equities analysts expect that Xenon Pharmaceuticals will post -3.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in XENE. Farther Finance Advisors LLC bought a new stake in Xenon Pharmaceuticals in the second quarter worth about $25,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Xenon Pharmaceuticals during the 1st quarter valued at $30,000. GF Fund Management CO. LTD. purchased a new stake in shares of Xenon Pharmaceuticals in the 4th quarter valued at $63,000. Quarry LP purchased a new stake in shares of Xenon Pharmaceuticals in the 4th quarter valued at $78,000. Finally, Amalgamated Bank bought a new position in Xenon Pharmaceuticals in the 2nd quarter worth $81,000. 95.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

XENE has been the topic of several research analyst reports. The Goldman Sachs Group dropped their price objective on Xenon Pharmaceuticals from $60.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. HC Wainwright reaffirmed a “buy” rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, May 13th. William Blair restated an “outperform” rating on shares of Xenon Pharmaceuticals in a research report on Monday, May 5th. Evercore ISI assumed coverage on shares of Xenon Pharmaceuticals in a research report on Wednesday, May 14th. They set an “outperform” rating and a $55.00 price target on the stock. Finally, Royal Bank Of Canada dropped their price objective on shares of Xenon Pharmaceuticals from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Xenon Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $54.82.

About Xenon Pharmaceuticals

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.