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

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Arizona State Retirement System grew its position in Xenon Pharmaceuticals by 21.2% in the fourth quarter. Arizona State Retirement System now owns 17,552 shares of the biopharmaceutical company’s stock worth $808,000 after buying an additional 3,074 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Xenon Pharmaceuticals by 95.0% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 39,000 shares of the biopharmaceutical company’s stock worth $1,801,000 after acquiring an additional 19,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Xenon Pharmaceuticals by 34.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,584 shares of the biopharmaceutical company’s stock worth $718,000 after acquiring an additional 3,961 shares during the last quarter. Federated Hermes Inc. acquired a new stake in shares of Xenon Pharmaceuticals during the fourth quarter worth $15,964,000. Finally, abrdn plc purchased a new stake in shares of Xenon Pharmaceuticals during the fourth quarter valued at $1,476,000. Institutional investors own 95.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on XENE shares. Wedbush cut their target price on Xenon Pharmaceuticals from $51.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. Citigroup decreased their target price on Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Needham & Company LLC reiterated a “buy” rating and set a $62.00 target price on shares of Xenon Pharmaceuticals in a report on Friday, May 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a research report on Tuesday, June 18th. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Xenon Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $59.11.

Xenon Pharmaceuticals Price Performance

Shares of NASDAQ XENE opened at $41.01 on Friday. The firm has a market capitalization of $3.10 billion, a PE ratio of -15.13 and a beta of 1.26. Xenon Pharmaceuticals has a 1-year low of $27.99 and a 1-year high of $50.99. The business’s fifty day moving average price is $39.64 and its two-hundred day moving average price is $42.34.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings results 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 business had revenue of $1.00 million for the quarter. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.63) EPS. Equities research analysts expect that Xenon Pharmaceuticals will post -2.98 earnings per share for the current fiscal year.

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.