Xenon Pharmaceuticals Target of Unusually High Options Trading (NASDAQ:XENE)

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) saw some unusual options trading activity on Wednesday. Stock traders bought 4,063 put options on the company. This represents an increase of approximately 2,362% compared to the typical volume of 165 put options.

Xenon Pharmaceuticals Stock Down 2.3%

NASDAQ:XENE opened at $41.15 on Thursday. Xenon Pharmaceuticals has a 52 week low of $26.74 and a 52 week high of $46.60. The stock’s fifty day moving average is $42.93 and its two-hundred day moving average is $39.81. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of -10.58 and a beta of 0.96.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings data on Monday, November 3rd. The biopharmaceutical company reported ($1.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.16) by $0.01. During the same period in the previous year, the company posted ($0.81) earnings per share. The company’s revenue was up .0% on a year-over-year basis. On average, sell-side analysts expect that Xenon Pharmaceuticals will post -3.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Ian Mortimer sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $44.43, for a total transaction of $1,777,200.00. Following the transaction, the chief executive officer directly owned 6,000 shares in the company, valued at $266,580. The trade was a 86.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders have sold 65,302 shares of company stock valued at $2,924,128. Company insiders own 4.07% of the company’s stock.

Institutional Investors Weigh In On Xenon Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in XENE. Farther Finance Advisors LLC acquired a new position in shares of Xenon Pharmaceuticals in the second quarter worth $25,000. Elevation Point Wealth Partners LLC purchased a new position in Xenon Pharmaceuticals in the second quarter valued at $32,000. Danske Bank A S acquired a new position in Xenon Pharmaceuticals during the 3rd quarter worth $32,000. Blue Trust Inc. grew its stake in Xenon Pharmaceuticals by 2,560.7% during the 4th quarter. Blue Trust Inc. now owns 745 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 717 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new stake in Xenon Pharmaceuticals during the 3rd quarter worth about $39,000. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on XENE. Cantor Fitzgerald reiterated an “overweight” rating and issued a $55.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, November 4th. Wells Fargo & Company upped their price objective on Xenon Pharmaceuticals from $44.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, December 11th. JPMorgan Chase & Co. raised their target price on Xenon Pharmaceuticals from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, January 9th. Needham & Company LLC restated a “buy” rating and issued a $55.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday, November 4th. Finally, Chardan Capital upgraded Xenon Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, November 19th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $54.82.

Xenon Pharmaceuticals Company Profile

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.