Traders Buy High Volume of Xenon Pharmaceuticals Put Options (NASDAQ:XENE)

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

Xenon Pharmaceuticals Trading Up 4.7 %

NASDAQ:XENE opened at $42.62 on Thursday. Xenon Pharmaceuticals has a twelve month low of $27.99 and a twelve month high of $50.99. The firm’s fifty day simple moving average is $39.85 and its 200 day simple moving average is $40.13. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of -15.73 and a beta of 1.25.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.05). During the same quarter last year, the firm posted ($0.72) earnings per share. On average, analysts predict that Xenon Pharmaceuticals will post -3.1 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on XENE. HC Wainwright started coverage on shares of Xenon Pharmaceuticals in a research report on Tuesday, October 1st. They issued a “buy” rating and a $53.00 price objective for the company. William Blair raised shares of Xenon Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Needham & Company LLC decreased their target price on shares of Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Raymond James reaffirmed an “outperform” rating and set a $50.00 price target on shares of Xenon Pharmaceuticals in a research report on Thursday, October 10th. Finally, Wedbush cut their price target on shares of Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Xenon Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $57.45.

Institutional Trading of Xenon Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. GSA Capital Partners LLP acquired a new position in shares of Xenon Pharmaceuticals in the 1st quarter valued at approximately $930,000. Harbor Capital Advisors Inc. boosted its stake in Xenon Pharmaceuticals by 647.8% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 24,116 shares of the biopharmaceutical company’s stock valued at $940,000 after acquiring an additional 20,891 shares during the last quarter. Capital International Investors grew its holdings in Xenon Pharmaceuticals by 0.8% during the 1st quarter. Capital International Investors now owns 2,475,859 shares of the biopharmaceutical company’s stock worth $106,586,000 after acquiring an additional 20,176 shares in the last quarter. Westfield Capital Management Co. LP increased its position in shares of Xenon Pharmaceuticals by 46.3% in the 1st quarter. Westfield Capital Management Co. LP now owns 347,351 shares of the biopharmaceutical company’s stock worth $14,953,000 after purchasing an additional 109,856 shares during the last quarter. Finally, DNB Asset Management AS raised its stake in shares of Xenon Pharmaceuticals by 39.2% in the 2nd quarter. DNB Asset Management AS now owns 175,733 shares of the biopharmaceutical company’s stock valued at $6,852,000 after purchasing an additional 49,483 shares in the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Company Profile

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.