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

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

Xenon Pharmaceuticals Stock Performance

Shares of XENE opened at $37.28 on Friday. The company has a market capitalization of $2.85 billion, a PE ratio of -13.22 and a beta of 1.26. The company’s 50 day moving average price is $39.10 and its 200 day moving average price is $40.25. Xenon Pharmaceuticals has a 52 week low of $33.27 and a 52 week high of $46.87.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.05. On average, equities analysts forecast that Xenon Pharmaceuticals will post -3.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, CEO Ian Mortimer sold 22,468 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $40.20, for a total value of $903,213.60. Following the sale, the chief executive officer now directly owns 31,302 shares in the company, valued at $1,258,340.40. The trade was a 41.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Sherry Aulin sold 18,709 shares of Xenon Pharmaceuticals stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $41.21, for a total transaction of $770,997.89. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 57,492 shares of company stock valued at $2,334,969. Company insiders own 5.52% of the company’s stock.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC increased its stake in shares of Xenon Pharmaceuticals by 8.8% during the 4th quarter. FMR LLC now owns 7,525,290 shares of the biopharmaceutical company’s stock worth $294,991,000 after purchasing an additional 607,606 shares during the last quarter. Wellington Management Group LLP raised its holdings in Xenon Pharmaceuticals by 0.4% during the third quarter. Wellington Management Group LLP now owns 3,843,447 shares of the biopharmaceutical company’s stock valued at $151,317,000 after buying an additional 15,226 shares in the last quarter. Braidwell LP lifted its position in shares of Xenon Pharmaceuticals by 7.6% in the fourth quarter. Braidwell LP now owns 2,913,964 shares of the biopharmaceutical company’s stock worth $114,227,000 after buying an additional 206,709 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Xenon Pharmaceuticals by 12.3% during the 4th quarter. Janus Henderson Group PLC now owns 2,866,755 shares of the biopharmaceutical company’s stock worth $112,425,000 after acquiring an additional 314,363 shares in the last quarter. Finally, Polar Capital Holdings Plc increased its holdings in shares of Xenon Pharmaceuticals by 10.3% during the 4th quarter. Polar Capital Holdings Plc now owns 2,697,657 shares of the biopharmaceutical company’s stock valued at $105,748,000 after acquiring an additional 253,012 shares during the last quarter. Institutional investors own 95.45% of the company’s stock.

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.