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

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) was the recipient of some unusual options trading on Wednesday. Stock traders acquired 4,063 put options on the stock. This represents an increase of 2,362% compared to the average daily volume of 165 put options.

Xenon Pharmaceuticals Trading Up 1.1%

Shares of XENE stock opened at $45.05 on Thursday. Xenon Pharmaceuticals has a 12-month low of $26.74 and a 12-month high of $46.60. The business’s fifty day simple moving average is $42.30 and its 200-day simple moving average is $37.73. The company has a market cap of $3.48 billion, a PE ratio of -11.58 and a beta of 1.03.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings data on Monday, November 3rd. The biopharmaceutical company reported ($1.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.16) by $0.01. During the same period last year, the firm posted ($0.81) earnings per share. The company’s revenue for the quarter was up .0% compared to the same quarter last year. On average, equities analysts forecast that Xenon Pharmaceuticals will post -3.1 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on XENE shares. Chardan Capital raised shares of Xenon Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, November 19th. Bloom Burton upgraded Xenon Pharmaceuticals to a “strong-buy” rating in a report on Tuesday, October 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research report on Tuesday, October 14th. JPMorgan Chase & Co. boosted their price target on Xenon Pharmaceuticals from $57.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 18th. Finally, William Blair reaffirmed an “outperform” rating on shares of Xenon Pharmaceuticals in a research report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $54.64.

Insiders Place Their Bets

In related news, CEO Ian Mortimer sold 10,830 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $45.73, for a total value of $495,255.90. Following the completion of the sale, the chief executive officer directly owned 6,000 shares of the company’s stock, valued at $274,380. This represents a 64.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 50,302 shares of company stock valued at $2,150,928 over the last ninety days. 4.07% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Several hedge funds have recently modified their holdings of XENE. Driehaus Capital Management LLC raised its position in shares of Xenon Pharmaceuticals by 1.4% in the 1st quarter. Driehaus Capital Management LLC now owns 4,584,859 shares of the biopharmaceutical company’s stock valued at $153,822,000 after purchasing an additional 64,264 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Xenon Pharmaceuticals by 66.0% in the third quarter. Wellington Management Group LLP now owns 3,609,857 shares of the biopharmaceutical company’s stock worth $144,936,000 after buying an additional 1,435,096 shares during the last quarter. Braidwell LP lifted its stake in shares of Xenon Pharmaceuticals by 33.0% during the second quarter. Braidwell LP now owns 3,605,029 shares of the biopharmaceutical company’s stock worth $112,837,000 after buying an additional 895,154 shares during the period. Commodore Capital LP lifted its stake in shares of Xenon Pharmaceuticals by 30.1% during the second quarter. Commodore Capital LP now owns 3,025,000 shares of the biopharmaceutical company’s stock worth $94,682,000 after buying an additional 700,000 shares during the period. Finally, Vestal Point Capital LP grew its holdings in shares of Xenon Pharmaceuticals by 53.8% during the second quarter. Vestal Point Capital LP now owns 2,000,000 shares of the biopharmaceutical company’s stock valued at $62,600,000 after buying an additional 700,000 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals Inc is a clinical?stage biopharmaceutical company dedicated to discovering and developing novel, small?molecule drugs targeting ion channels in the central and peripheral nervous system. The company’s research focus centers on neurological and pain disorders—including epilepsy, migraine, and neuropathic pain—by modulating key ion?channel proteins to restore normal neuronal function. Xenon’s scientific platform draws upon advances in ion?channel biology and structure?based drug design to identify and optimize therapeutic candidates with the potential for improved safety and efficacy profiles compared with existing treatments.

The company’s pipeline comprises multiple preclinical and clinical programs.