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

Key Points

• Xenon Pharmaceuticals experienced an **unusual surge** in options trading, with 4,063 put options traded, marking a **2,362% increase** over the typical volume of 165 put options.
• The company's latest earnings report showed a **loss of ($0.83) EPS**, which beat analyst expectations, as revenue reached **$7.50 million**, well above the forecasted $1.64 million.
• Currently, **95.45%** of Xenon Pharmaceuticals' stock is held by institutional investors, highlighting significant **investor interest** in the company.

Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Get Free Report) was the target of unusually large options trading activity on Wednesday. Stock investors bought 4,063 put options on the company. Thisrepresentsanincreaseof2,362% compared to the typical daily volume of 165 put options.

Xenon Pharmaceuticals Stock Performance

XENE stock opened at $34.27 on Thursday. The firm has a market cap of $2.63 billion, a PE ratio of -10.61 and a beta of 1.16. The firm's fifty day moving average is $31.68 and its 200 day moving average is $34.24. Xenon Pharmaceuticals has a one year low of $26.74 and a one year high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The biopharmaceutical company reported ($0.83) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.07. The firm had revenue of $7.50 million for the quarter, compared to analyst estimates of $1.64 million. During the same quarter in the prior year, the business posted ($0.62) EPS. Research analysts predict that Xenon Pharmaceuticals will post -3.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on XENE shares. William Blair restated an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Monday, May 5th. HC Wainwright reaffirmed a "buy" rating and issued a $53.00 price target on shares of Xenon Pharmaceuticals in a research report on Tuesday, May 13th. Wells Fargo & Company lowered their price target on shares of Xenon Pharmaceuticals from $50.00 to $47.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Chardan Capital reaffirmed a "buy" rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a research report on Tuesday, May 13th. Finally, Royal Bank Of Canada decreased their target price on shares of Xenon Pharmaceuticals from $58.00 to $55.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Xenon Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $54.82.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northern Trust Corp lifted its stake in shares of Xenon Pharmaceuticals by 51.6% in the fourth quarter. Northern Trust Corp now owns 65,783 shares of the biopharmaceutical company's stock worth $2,579,000 after buying an additional 22,377 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Xenon Pharmaceuticals by 39.1% during the fourth quarter. Ameriprise Financial Inc. now owns 92,350 shares of the biopharmaceutical company's stock worth $3,620,000 after purchasing an additional 25,967 shares during the period. Mutual of America Capital Management LLC purchased a new position in Xenon Pharmaceuticals during the first quarter worth about $1,636,000. Bank of New York Mellon Corp raised its stake in Xenon Pharmaceuticals by 439.0% during the first quarter. Bank of New York Mellon Corp now owns 251,147 shares of the biopharmaceutical company's stock worth $8,426,000 after purchasing an additional 204,550 shares during the period. Finally, Geode Capital Management LLC raised its stake in Xenon Pharmaceuticals by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 69,529 shares of the biopharmaceutical company's stock worth $2,726,000 after purchasing an additional 720 shares during the period. 95.45% of the stock is owned by hedge funds and other institutional investors.

About Xenon Pharmaceuticals

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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