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

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) was the recipient of some unusual options trading activity on Wednesday. Traders purchased 4,063 put options on the stock. This represents an increase of approximately 2,362% compared to the typical daily volume of 165 put options.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on XENE. Needham & Company LLC upped their target price on Xenon Pharmaceuticals from $58.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, March 9th. Wells Fargo & Company upped their target price on Xenon Pharmaceuticals from $49.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, March 10th. Deutsche Bank Aktiengesellschaft upped their target price on Xenon Pharmaceuticals from $56.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, March 10th. Bank of America reiterated a “buy” rating on shares of Xenon Pharmaceuticals in a research report on Monday, March 9th. Finally, Robert W. Baird upped their target price on Xenon Pharmaceuticals from $63.00 to $97.00 and gave the company an “outperform” rating in a research report on Monday, March 9th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Xenon Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $71.88.

Insider Activity

In related news, insider Christopher John Kenney sold 2,771 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $60.11, for a total value of $166,564.81. Following the sale, the insider owned 4,729 shares in the company, valued at $284,260.19. This represents a 36.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ian Mortimer sold 270,000 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $60.33, for a total value of $16,289,100.00. Following the completion of the sale, the chief executive officer owned 6,000 shares in the company, valued at approximately $361,980. This represents a 97.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 296,707 shares of company stock worth $17,845,365 over the last 90 days. 4.07% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Neo Ivy Capital Management purchased a new stake in Xenon Pharmaceuticals in the 3rd quarter worth approximately $2,001,000. JPMorgan Chase & Co. boosted its position in Xenon Pharmaceuticals by 11.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,399,033 shares of the biopharmaceutical company’s stock worth $56,171,000 after purchasing an additional 142,452 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Xenon Pharmaceuticals in the 4th quarter worth approximately $5,342,000. HighVista Strategies LLC boosted its position in Xenon Pharmaceuticals by 80.2% in the 3rd quarter. HighVista Strategies LLC now owns 82,190 shares of the biopharmaceutical company’s stock worth $3,300,000 after purchasing an additional 36,570 shares in the last quarter. Finally, Westfield Capital Management Co. LP boosted its position in Xenon Pharmaceuticals by 4.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,206,066 shares of the biopharmaceutical company’s stock worth $48,424,000 after purchasing an additional 53,461 shares in the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Xenon Pharmaceuticals Trading Down 0.8%

Xenon Pharmaceuticals stock opened at $58.88 on Thursday. Xenon Pharmaceuticals has a 12 month low of $28.19 and a 12 month high of $63.95. The stock’s 50 day simple moving average is $50.62 and its two-hundred day simple moving average is $44.96. The firm has a market cap of $4.90 billion, a PE ratio of -13.50 and a beta of 0.74.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings data on Thursday, February 26th. The biopharmaceutical company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($1.20) by ($0.11). During the same period last year, the firm posted ($0.84) earnings per share. On average, equities research analysts forecast that Xenon Pharmaceuticals will post -3.1 EPS for the current year.

About Xenon Pharmaceuticals

Xenon Pharmaceuticals Inc is a clinical‐stage biopharmaceutical company dedicated to discovering and developing novel, small‐molecule drugs targeting ion channels in the central and peripheral nervous system. The company’s research focus centers on neurological and pain disorders—including epilepsy, migraine, and neuropathic pain—by modulating key ion‐channel proteins to restore normal neuronal function. Xenon’s scientific platform draws upon advances in ion‐channel biology and structure‐based drug design to identify and optimize therapeutic candidates with the potential for improved safety and efficacy profiles compared with existing treatments.

The company’s pipeline comprises multiple preclinical and clinical programs.