Investors Buy High Volume of Put Options on Xenon Pharmaceuticals (NASDAQ:XENE)

Xenon Pharmaceuticals Inc. (NASDAQ:XENEGet Free Report) saw unusually large options trading on Wednesday. Traders acquired 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.

Insider Transactions at Xenon Pharmaceuticals

In related news, Director Steven Gannon sold 13,000 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $46.28, for a total transaction of $601,640.00. Following the sale, the director now owns 2,000 shares of the company’s stock, valued at approximately $92,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Steven Gannon sold 13,000 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $46.28, for a total transaction of $601,640.00. Following the sale, the director now owns 2,000 shares of the company’s stock, valued at approximately $92,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sherrington Robin sold 7,137 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $46.28, for a total value of $330,300.36. Following the sale, the executive vice president now directly owns 8,398 shares in the company, valued at approximately $388,659.44. The disclosure for this sale can be found here. 5.43% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Several hedge funds have recently made changes to their positions in XENE. BNP Paribas Arbitrage SA boosted its position in shares of Xenon Pharmaceuticals by 1,567.5% during the first quarter. BNP Paribas Arbitrage SA now owns 1,334 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 1,254 shares in the last quarter. US Bancorp DE boosted its position in shares of Xenon Pharmaceuticals by 260.2% during the fourth quarter. US Bancorp DE now owns 933 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 674 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Xenon Pharmaceuticals by 124.6% during the fourth quarter. Wells Fargo & Company MN now owns 1,123 shares of the biopharmaceutical company’s stock valued at $44,000 after purchasing an additional 623 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Xenon Pharmaceuticals by 414.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,014 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 817 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in Xenon Pharmaceuticals by 51.2% during the fourth quarter. Parallel Advisors LLC now owns 1,125 shares of the biopharmaceutical company’s stock valued at $52,000 after buying an additional 381 shares during the last quarter. 95.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Needham & Company LLC raised their price objective on Xenon Pharmaceuticals from $50.00 to $62.00 and gave the company a “buy” rating in a report on Friday, March 1st. Royal Bank of Canada decreased their price objective on Xenon Pharmaceuticals from $56.00 to $55.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. JPMorgan Chase & Co. raised their price objective on Xenon Pharmaceuticals from $54.00 to $59.00 and gave the company an “outperform” rating in a report on Tuesday, December 19th. Citigroup assumed coverage on Xenon Pharmaceuticals in a report on Thursday, January 4th. They set a “buy” rating and a $62.00 price objective on the stock. Finally, Robert W. Baird assumed coverage on Xenon Pharmaceuticals in a report on Friday, December 8th. They set an “outperform” rating and a $63.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $58.67.

Check Out Our Latest Report on Xenon Pharmaceuticals

Xenon Pharmaceuticals Price Performance

XENE opened at $41.30 on Thursday. The stock’s 50 day simple moving average is $45.97 and its 200 day simple moving average is $40.34. Xenon Pharmaceuticals has a 1 year low of $27.99 and a 1 year high of $50.99. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of -15.18 and a beta of 1.15.

Xenon Pharmaceuticals (NASDAQ:XENEGet Free Report) last issued its quarterly earnings data on Thursday, February 29th. The biopharmaceutical company reported ($0.64) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.12. During the same period in the prior year, the business earned ($0.57) earnings per share. The business’s revenue for the quarter was up .0% on a year-over-year basis. As a group, sell-side analysts anticipate that Xenon Pharmaceuticals will post -3.04 EPS for the current year.

Xenon Pharmaceuticals Company Profile

(Get Free Report)

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.

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