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

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

Xenon Pharmaceuticals Price Performance

NASDAQ XENE opened at $41.11 on Friday. The business has a fifty day moving average price of $40.59 and a two-hundred day moving average price of $40.17. The stock has a market capitalization of $3.10 billion, a PE ratio of -15.17 and a beta of 1.25. Xenon Pharmaceuticals has a fifty-two week low of $27.99 and a fifty-two week high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.05). During the same period last year, the company posted ($0.72) earnings per share. As a group, sell-side analysts expect that Xenon Pharmaceuticals will post -3.1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Wedbush decreased their price objective on Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 price target on shares of Xenon Pharmaceuticals in a research report on Friday, August 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $55.00 price objective on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd. HC Wainwright began coverage on shares of Xenon Pharmaceuticals in a research report on Tuesday, October 1st. They set a “buy” rating and a $53.00 target price on the stock. Finally, Raymond James reiterated an “outperform” rating and issued a $50.00 price target on shares of Xenon Pharmaceuticals in a research report on Thursday, October 10th. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $57.45.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Xenon Pharmaceuticals during the 1st quarter worth $17,941,000. Affinity Asset Advisors LLC boosted its stake in shares of Xenon Pharmaceuticals by 82.0% during the first quarter. Affinity Asset Advisors LLC now owns 837,387 shares of the biopharmaceutical company’s stock valued at $36,050,000 after purchasing an additional 377,387 shares in the last quarter. Logos Global Management LP bought a new stake in shares of Xenon Pharmaceuticals during the second quarter worth about $14,621,000. Ikarian Capital LLC increased its stake in shares of Xenon Pharmaceuticals by 169.6% in the first quarter. Ikarian Capital LLC now owns 107,187 shares of the biopharmaceutical company’s stock valued at $4,614,000 after buying an additional 261,276 shares during the period. Finally, Artal Group S.A. bought a new position in Xenon Pharmaceuticals in the 1st quarter valued at approximately $10,908,000. 95.45% of the stock is owned by institutional investors.

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.