Xenon Pharmaceuticals Target of Unusually Large Options Trading (NASDAQ:XENE)

Xenon Pharmaceuticals Inc. (NASDAQ:XENEGet Free Report) was the recipient of some unusual options trading on Wednesday. Stock 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.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on XENE. Raymond James restated an “outperform” rating and set a $50.00 price objective on shares of Xenon Pharmaceuticals in a research note on Thursday, October 10th. HC Wainwright restated a “buy” rating and set a $53.00 price objective on shares of Xenon Pharmaceuticals in a research note on Thursday, December 12th. Finally, Needham & Company LLC restated a “buy” rating and set a $60.00 price objective on shares of Xenon Pharmaceuticals in a research note on Wednesday, November 13th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $56.00.

Read Our Latest Report on XENE

Xenon Pharmaceuticals Trading Down 2.9 %

Shares of Xenon Pharmaceuticals stock opened at $39.55 on Friday. The business’s 50 day simple moving average is $41.04 and its 200-day simple moving average is $40.64. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of -14.02 and a beta of 1.20. Xenon Pharmaceuticals has a twelve month low of $35.53 and a twelve month high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENEGet Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.01. During the same period last year, the firm earned ($0.73) EPS. Sell-side analysts predict that Xenon Pharmaceuticals will post -3.1 earnings per share for the current year.

Insider Activity at Xenon Pharmaceuticals

In related news, Director Gary Patou sold 4,891 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $41.08, for a total value of $200,922.28. Following the completion of the transaction, the director now owns 23,573 shares of the company’s stock, valued at approximately $968,378.84. This represents a 17.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Sherry Aulin sold 18,709 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $41.21, for a total value of $770,997.89. The disclosure for this sale can be found here. 5.52% of the stock is currently owned by company insiders.

Institutional Trading of Xenon Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in XENE. Janus Henderson Group PLC raised its position in shares of Xenon Pharmaceuticals by 144.2% during the 3rd quarter. Janus Henderson Group PLC now owns 2,552,392 shares of the biopharmaceutical company’s stock worth $100,506,000 after purchasing an additional 1,507,135 shares during the period. JPMorgan Chase & Co. increased its position in Xenon Pharmaceuticals by 1,263.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company’s stock valued at $38,456,000 after acquiring an additional 905,129 shares during the period. Logos Global Management LP acquired a new stake in Xenon Pharmaceuticals in the 2nd quarter valued at approximately $14,621,000. Vestal Point Capital LP increased its position in Xenon Pharmaceuticals by 57.1% in the 3rd quarter. Vestal Point Capital LP now owns 825,000 shares of the biopharmaceutical company’s stock valued at $32,480,000 after acquiring an additional 300,000 shares during the period. Finally, Samlyn Capital LLC increased its position in Xenon Pharmaceuticals by 61.5% in the 2nd quarter. Samlyn Capital LLC now owns 639,685 shares of the biopharmaceutical company’s stock valued at $24,941,000 after acquiring an additional 243,489 shares during the period. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Xenon Pharmaceuticals Company Profile

(Get Free Report)

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.

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