Investors Purchase High Volume of Put Options on Xenon Pharmaceuticals (NASDAQ:XENE)

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) was the recipient of unusually large options trading on Wednesday. Investors acquired 4,063 put options on the stock. This represents an increase of 2,362% compared to the average volume of 165 put options.

Xenon Pharmaceuticals Price Performance

XENE stock opened at $41.63 on Thursday. The business has a 50 day simple moving average of $45.16 and a 200-day simple moving average of $40.80. The firm has a market capitalization of $3.14 billion, a PE ratio of -15.31 and a beta of 1.15. Xenon Pharmaceuticals has a 1 year low of $27.99 and a 1 year high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings data on Thursday, February 29th. The biopharmaceutical company reported ($0.64) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.12. The firm’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.57) earnings per share. On average, equities research analysts expect that Xenon Pharmaceuticals will post -3.04 EPS for the current year.

Insider Buying and Selling

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

Institutional Trading of Xenon Pharmaceuticals

Large investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA raised its holdings in Xenon Pharmaceuticals by 1,567.5% in the first quarter. BNP Paribas Arbitrage SA now owns 1,334 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 1,254 shares in the last quarter. US Bancorp DE increased its position in shares of Xenon Pharmaceuticals by 260.2% in the 4th quarter. US Bancorp DE now owns 933 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 674 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Xenon Pharmaceuticals by 124.6% in the 4th quarter. Wells Fargo & Company MN now owns 1,123 shares of the biopharmaceutical company’s stock valued at $44,000 after purchasing an additional 623 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Xenon Pharmaceuticals by 414.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,014 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 817 shares during the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of Xenon Pharmaceuticals by 51.2% during the fourth quarter. Parallel Advisors LLC now owns 1,125 shares of the biopharmaceutical company’s stock worth $52,000 after purchasing an additional 381 shares in the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on XENE shares. Needham & Company LLC reissued a “buy” rating and issued a $62.00 price objective on shares of Xenon Pharmaceuticals in a report on Friday, April 12th. Citigroup began coverage on Xenon Pharmaceuticals in a report on Thursday, January 4th. They issued a “buy” rating and a $62.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $65.00 price target on shares of Xenon Pharmaceuticals in a report on Wednesday, April 10th. Royal Bank of Canada reduced their price target on Xenon Pharmaceuticals from $56.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, March 1st. Finally, Wedbush upped their price target on Xenon Pharmaceuticals from $46.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. One analyst has rated the stock with a sell rating and nine have given a buy 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 price target of $59.44.

Xenon Pharmaceuticals Company Profile

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.