Stock Traders Purchase Large Volume of Xenon Pharmaceuticals Put Options (NASDAQ:XENE)

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) saw unusually large options trading activity on Wednesday. Stock investors purchased 4,063 put options on the stock. This represents an increase of approximately 2,362% compared to the average daily volume of 165 put options.

Institutional Trading of Xenon Pharmaceuticals

A number of hedge funds have recently made changes to their positions in XENE. Walleye Capital LLC raised its stake in shares of Xenon Pharmaceuticals by 40.5% during the third quarter. Walleye Capital LLC now owns 126,028 shares of the biopharmaceutical company’s stock valued at $4,305,000 after acquiring an additional 36,324 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Xenon Pharmaceuticals by 70.2% during the fourth quarter. Franklin Resources Inc. now owns 293,825 shares of the biopharmaceutical company’s stock valued at $13,534,000 after acquiring an additional 121,213 shares during the last quarter. Perceptive Advisors LLC raised its stake in shares of Xenon Pharmaceuticals by 78.3% during the fourth quarter. Perceptive Advisors LLC now owns 1,100,748 shares of the biopharmaceutical company’s stock valued at $50,700,000 after acquiring an additional 483,248 shares during the last quarter. Affinity Asset Advisors LLC raised its stake in shares of Xenon Pharmaceuticals by 53.1% during the fourth quarter. Affinity Asset Advisors LLC now owns 460,000 shares of the biopharmaceutical company’s stock valued at $21,188,000 after acquiring an additional 159,562 shares during the last quarter. Finally, Lighthouse Investment Partners LLC bought a new position in shares of Xenon Pharmaceuticals during the fourth quarter valued at about $1,279,000. 95.45% of the stock is owned by institutional investors.

Xenon Pharmaceuticals Price Performance

XENE opened at $37.41 on Friday. The company has a fifty day moving average price of $39.35 and a 200-day moving average price of $42.94. The firm has a market capitalization of $2.82 billion, a P/E ratio of -13.80 and a beta of 1.22. Xenon Pharmaceuticals has a one year low of $27.99 and a one year high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.62) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.07. The company had revenue of $1.00 million for the quarter. During the same period in the prior year, the company earned ($0.63) earnings per share. The business’s revenue was up .0% compared to the same quarter last year. On average, analysts expect that Xenon Pharmaceuticals will post -2.98 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on XENE. Citigroup decreased their price target on shares of Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Wedbush decreased their price target on shares of Xenon Pharmaceuticals from $51.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. Cantor Fitzgerald restated an “overweight” rating and set a $65.00 price target on shares of Xenon Pharmaceuticals in a research note on Wednesday, April 10th. Needham & Company LLC reiterated a “buy” rating and issued a $62.00 price objective on shares of Xenon Pharmaceuticals in a research note on Friday, May 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $55.00 price objective on shares of Xenon Pharmaceuticals in a research note on Tuesday, June 18th. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Xenon Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $59.11.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN496, a Kv7 potassium channel opener that is Phase III clinical trials for the treatment of KCNQ2 developmental and epileptic encephalopathy; and XEN1101, a Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.