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. Stock investors acquired 4,063 put options on the company. This is an increase of 2,362% compared to the typical daily volume of 165 put options.

Xenon Pharmaceuticals Price Performance

NASDAQ:XENE opened at $37.17 on Thursday. The company’s 50-day moving average is $39.15 and its two-hundred day moving average is $40.27. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of -13.18 and a beta of 1.26. Xenon Pharmaceuticals has a 1-year low of $33.27 and a 1-year high of $47.44.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.84) EPS for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.05. As a group, equities analysts anticipate that Xenon Pharmaceuticals will post -3.1 earnings per share for the current fiscal year.

Insider Activity at Xenon Pharmaceuticals

In other news, CFO Sherry Aulin sold 18,709 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $41.21, for a total value of $770,997.89. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ian Mortimer sold 22,468 shares of Xenon Pharmaceuticals stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $40.20, for a total value of $903,213.60. Following the completion of the sale, the chief executive officer now directly owns 31,302 shares in the company, valued at $1,258,340.40. This represents a 41.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 57,492 shares of company stock valued at $2,334,969. 5.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Several large investors have recently modified their holdings of the business. GF Fund Management CO. LTD. purchased a new stake in Xenon Pharmaceuticals in the 4th quarter valued at about $63,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Xenon Pharmaceuticals by 17.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 191,852 shares of the biopharmaceutical company’s stock valued at $7,521,000 after acquiring an additional 29,169 shares during the last quarter. Woodline Partners LP purchased a new stake in shares of Xenon Pharmaceuticals in the 4th quarter valued at approximately $1,566,000. Vident Advisory LLC acquired a new position in shares of Xenon Pharmaceuticals in the 4th quarter worth approximately $212,000. Finally, Two Sigma Advisers LP lifted its holdings in shares of Xenon Pharmaceuticals by 9.1% in the 4th quarter. Two Sigma Advisers LP now owns 298,700 shares of the biopharmaceutical company’s stock worth $11,709,000 after acquiring an additional 25,000 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Analysts Set New Price Targets

XENE has been the subject of a number of recent research reports. William Blair reiterated an “outperform” rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price objective on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th. HC Wainwright restated a “buy” rating and set a $53.00 target price on shares of Xenon Pharmaceuticals in a report on Monday, February 24th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “buy” rating and a $67.00 price target for the company. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Xenon Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $57.38.

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.