Investors Purchase Large Volume of Put Options on Xenon Pharmaceuticals (NASDAQ:XENE)

Xenon Pharmaceuticals Inc. (NASDAQ:XENEGet Rating) was the recipient of some unusual options trading on Wednesday. Stock investors bought 4,063 put options on the company. This represents an increase of approximately 2,362% compared to the typical daily volume of 165 put options.

Xenon Pharmaceuticals Trading Down 0.2 %

Shares of NASDAQ:XENE opened at $33.50 on Friday. Xenon Pharmaceuticals has a 12-month low of $14.65 and a 12-month high of $36.42. The company has a market capitalization of $1.78 billion, a PE ratio of -18.72 and a beta of 1.58. The business has a 50 day moving average of $30.63 and a two-hundred day moving average of $30.48.

Xenon Pharmaceuticals (NASDAQ:XENEGet Rating) last announced its quarterly earnings results on Tuesday, May 10th. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.03. Xenon Pharmaceuticals had a negative return on equity of 20.94% and a negative net margin of 360.80%. The company had revenue of $8.77 million during the quarter, compared to the consensus estimate of $9.22 million. During the same period in the previous year, the company posted ($0.42) earnings per share. Equities research analysts predict that Xenon Pharmaceuticals will post -2.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA raised its stake in shares of Xenon Pharmaceuticals by 1,567.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,334 shares of the biopharmaceutical company’s stock worth $41,000 after buying an additional 1,254 shares during the period. Advisors Asset Management Inc. acquired a new position in shares of Xenon Pharmaceuticals during the 1st quarter worth approximately $66,000. JPMorgan Chase & Co. raised its stake in shares of Xenon Pharmaceuticals by 33.4% during the 1st quarter. JPMorgan Chase & Co. now owns 6,371 shares of the biopharmaceutical company’s stock worth $194,000 after buying an additional 1,596 shares during the period. ProShare Advisors LLC acquired a new position in shares of Xenon Pharmaceuticals during the 4th quarter worth approximately $227,000. Finally, Victory Capital Management Inc. acquired a new position in shares of Xenon Pharmaceuticals during the 4th quarter worth approximately $236,000.

Wall Street Analysts Forecast Growth

XENE has been the topic of a number of recent research reports. StockNews.com upgraded Xenon Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday. Wedbush dropped their target price on Xenon Pharmaceuticals from $47.00 to $41.00 and set an “outperform” rating on the stock in a research report on Monday, June 27th. Finally, JPMorgan Chase & Co. initiated coverage on Xenon Pharmaceuticals in a research report on Thursday, July 21st. They issued an “overweight” rating and a $55.00 target price on the stock. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.33.

Xenon Pharmaceuticals Company Profile

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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 epilepsy encephalopathy; and XEN1101, A Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.

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