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

Key Points

• Xenon Pharmaceuticals experienced a significant rise in options trading, with investors purchasing 4,063 put options, marking an increase of approximately 2,362% compared to the typical volume.
• The company reported a quarterly earnings loss of $1.07 per share, missing analysts' estimates, and is projected to post a -3.1 EPS for the current fiscal year.
• Recent analyst reports show a consensus rating of "Buy" for Xenon Pharmaceuticals, with target prices ranging from $53.00 to $57.00.

Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Get Free Report) saw some unusual options trading on Wednesday. Stock investors bought 4,063 put options on the company. Thisrepresentsanincreaseof2,362% compared to the typical volume of 165 put options.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wall Street Zen cut Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. William Blair reaffirmed an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Monday, May 5th. Evercore ISI assumed coverage on Xenon Pharmaceuticals in a report on Wednesday, May 14th. They set an "outperform" rating and a $55.00 price target on the stock. Royal Bank Of Canada cut their price target on Xenon Pharmaceuticals from $57.00 to $55.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Finally, Wells Fargo & Company cut their price target on Xenon Pharmaceuticals from $50.00 to $47.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Eleven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $53.20.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in XENE. Farther Finance Advisors LLC bought a new stake in Xenon Pharmaceuticals during the second quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd bought a new stake in Xenon Pharmaceuticals during the first quarter worth approximately $30,000. Elevation Point Wealth Partners LLC bought a new stake in Xenon Pharmaceuticals during the second quarter worth approximately $32,000. L1 Capital Pty Ltd bought a new stake in Xenon Pharmaceuticals during the second quarter worth approximately $41,000. Finally, GF Fund Management CO. LTD. bought a new stake in Xenon Pharmaceuticals during the fourth quarter worth approximately $63,000. Institutional investors own 95.45% of the company's stock.

Xenon Pharmaceuticals Trading Up 1.3%

NASDAQ:XENE traded up $0.51 during midday trading on Tuesday, hitting $38.65. 577,358 shares of the stock were exchanged, compared to its average volume of 1,027,274. Xenon Pharmaceuticals has a one year low of $26.74 and a one year high of $46.00. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of -10.89 and a beta of 1.16. The business has a 50-day moving average price of $33.42 and a two-hundred day moving average price of $33.93.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its earnings results on Monday, August 11th. The biopharmaceutical company reported ($1.07) EPS for the quarter, missing the consensus estimate of ($1.03) by ($0.04). During the same period in the previous year, the company earned ($0.75) earnings per share. Sell-side analysts forecast that Xenon Pharmaceuticals will post -3.1 EPS for the current fiscal year.

Xenon Pharmaceuticals Company Profile

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.