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

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) saw some unusual options trading on Wednesday. Stock investors purchased 4,063 put options on the stock. This is an increase of 2,362% compared to the typical daily volume of 165 put options.

Xenon Pharmaceuticals Stock Up 0.2%

XENE stock opened at $39.20 on Friday. Xenon Pharmaceuticals has a twelve month low of $26.74 and a twelve month high of $46.00. The company has a market cap of $3.02 billion, a PE ratio of -11.04 and a beta of 1.14. The business’s 50-day simple moving average is $36.54 and its 200 day simple moving average is $34.03.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its earnings results on Monday, August 11th. The biopharmaceutical company reported ($1.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.04). During the same period last year, the business earned ($0.75) earnings per share. On average, equities research analysts anticipate that Xenon Pharmaceuticals will post -3.1 EPS for the current year.

Insider Activity

In other news, CEO Ian Mortimer sold 25,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer directly owned 31,302 shares of the company’s stock, valued at approximately $1,257,088.32. This trade represents a 44.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.07% of the company’s stock.

Institutional Investors Weigh In On Xenon Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. grew its position in Xenon Pharmaceuticals by 541.4% during the second quarter. Osaic Holdings Inc. now owns 1,225 shares of the biopharmaceutical company’s stock worth $40,000 after buying an additional 1,034 shares in the last quarter. L1 Capital Pty Ltd acquired a new stake in Xenon Pharmaceuticals during the second quarter valued at approximately $41,000. Tower Research Capital LLC TRC boosted its holdings in Xenon Pharmaceuticals by 10,614.0% during the second quarter. Tower Research Capital LLC TRC now owns 5,357 shares of the biopharmaceutical company’s stock valued at $168,000 after purchasing an additional 5,307 shares in the last quarter. Soleus Capital Management L.P. acquired a new stake in Xenon Pharmaceuticals during the second quarter valued at approximately $2,466,000. Finally, Vestal Point Capital LP boosted its holdings in Xenon Pharmaceuticals by 53.8% during the second quarter. Vestal Point Capital LP now owns 2,000,000 shares of the biopharmaceutical company’s stock valued at $62,600,000 after purchasing an additional 700,000 shares in the last quarter. 95.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a research report on Tuesday, September 2nd. Wells Fargo & Company assumed coverage on Xenon Pharmaceuticals in a research report on Wednesday, September 3rd. They issued an “overweight” rating and a $48.00 price target on the stock. Wedbush raised their price target on Xenon Pharmaceuticals from $42.00 to $43.00 and gave the company an “outperform” rating in a research report on Tuesday, August 12th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a research report on Tuesday, August 12th. Eleven equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Xenon Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $53.30.

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.