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

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) was the target of unusually large options trading on Wednesday. Investors purchased 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 Trading Down 0.5 %

Shares of XENE opened at $41.75 on Friday. Xenon Pharmaceuticals has a one year low of $28.10 and a one year high of $50.99. The company has a 50-day moving average of $41.14 and a two-hundred day moving average of $40.35.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.82) by $0.01. During the same quarter last year, the company earned ($0.73) EPS. Equities analysts forecast that Xenon Pharmaceuticals will post -3.1 EPS for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $65.00 price target on shares of Xenon Pharmaceuticals in a report on Friday, August 9th. Needham & Company LLC reissued a “buy” rating and issued a $60.00 price target on shares of Xenon Pharmaceuticals in a report on Wednesday. Raymond James reissued an “outperform” rating and set a $50.00 target price on shares of Xenon Pharmaceuticals in a research note on Thursday, October 10th. HC Wainwright reissued a “buy” rating and issued a $53.00 price target on shares of Xenon Pharmaceuticals in a research note on Wednesday. Finally, William Blair upgraded shares of Xenon Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Eleven 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.com, the stock presently has an average rating of “Buy” and an average price target of $57.45.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. lifted its position in shares of Xenon Pharmaceuticals by 174.7% in the third quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 641 shares in the last quarter. nVerses Capital LLC purchased a new stake in Xenon Pharmaceuticals in the 3rd quarter worth approximately $102,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Xenon Pharmaceuticals by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company’s stock valued at $106,000 after buying an additional 487 shares during the period. Quarry LP grew its holdings in shares of Xenon Pharmaceuticals by 207.7% during the 2nd quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock valued at $156,000 after acquiring an additional 2,700 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new position in shares of Xenon Pharmaceuticals in the first quarter worth $195,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

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.