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) was the target of some unusual options trading on Wednesday. Investors purchased 4,063 put options on the stock. Thisrepresentsanincreaseofapproximately2,362% compared to the typical volume of 165 put options.

Xenon Pharmaceuticals Trading Up 0.7%

NASDAQ:XENE opened at $37.64 on Thursday. Xenon Pharmaceuticals has a 12-month low of $26.74 and a 12-month high of $46.00. The stock's 50 day simple moving average is $32.93 and its 200-day simple moving average is $34.01. The firm has a market cap of $2.90 billion, a P/E ratio of -10.60 and a beta of 1.16.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The biopharmaceutical company reported ($1.07) earnings per share for the quarter, missing analysts' consensus estimates of ($1.03) by ($0.04). During the same quarter in the previous year, the firm posted ($0.75) EPS. Research analysts forecast that Xenon Pharmaceuticals will post -3.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Xenon Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC purchased a new position in shares of Xenon Pharmaceuticals during the 2nd quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd acquired a new position in Xenon Pharmaceuticals during the first quarter worth $30,000. Elevation Point Wealth Partners LLC acquired a new position in Xenon Pharmaceuticals during the second quarter worth $32,000. L1 Capital Pty Ltd purchased a new position in Xenon Pharmaceuticals in the second quarter worth $41,000. Finally, GF Fund Management CO. LTD. purchased a new stake in shares of Xenon Pharmaceuticals during the 4th quarter worth $63,000. Hedge funds and other institutional investors own 95.45% of the company's stock.

Wall Street Analyst Weigh In

XENE has been the topic of several analyst reports. Royal Bank Of Canada reduced their target price on shares of Xenon Pharmaceuticals from $57.00 to $55.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Chardan Capital restated a "buy" rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a research report on Tuesday, August 12th. HC Wainwright restated a "buy" rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, May 13th. Wall Street Zen downgraded Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Finally, William Blair reissued an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Monday, May 5th. Eleven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $53.20.

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.

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