Stock Traders Purchase High Volume of Xenon Pharmaceuticals Put Options (NASDAQ:XENE)

Xenon Pharmaceuticals Inc. (NASDAQ:XENEGet Rating) was the target of unusually large options trading on Wednesday. Stock traders bought 4,063 put options on the stock. This represents an increase of 2,362% compared to the average daily volume of 165 put options.

Wall Street Analyst Weigh In

Several research firms have recently commented on XENE. JPMorgan Chase & Co. began coverage on Xenon Pharmaceuticals in a research report on Thursday, July 21st. They set an “overweight” rating and a $55.00 price target for the company. StockNews.com upgraded Xenon Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Wedbush lowered their price target on Xenon Pharmaceuticals from $47.00 to $41.00 and set an “outperform” rating for the company in a research report on Monday, June 27th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $45.33.

Hedge Funds Weigh In On Xenon Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in XENE. Silverarc Capital Management LLC boosted its holdings in Xenon Pharmaceuticals by 130.1% in the 2nd quarter. Silverarc Capital Management LLC now owns 232,630 shares of the biopharmaceutical company’s stock valued at $7,077,000 after purchasing an additional 131,549 shares in the last quarter. Sanders Morris Harris LLC purchased a new stake in Xenon Pharmaceuticals in the 2nd quarter valued at approximately $754,000. Walleye Capital LLC boosted its holdings in Xenon Pharmaceuticals by 114.4% in the 1st quarter. Walleye Capital LLC now owns 154,308 shares of the biopharmaceutical company’s stock valued at $4,717,000 after purchasing an additional 82,324 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Xenon Pharmaceuticals by 1,567.5% in the 1st 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. Finally, Advisors Asset Management Inc. purchased a new stake in Xenon Pharmaceuticals in the 1st quarter valued at approximately $66,000.

Xenon Pharmaceuticals Trading Down 0.2 %

Shares of NASDAQ XENE traded down $0.06 during midday trading on Thursday, reaching $33.52. 1,971 shares of the company were exchanged, compared to its average volume of 483,729. Xenon Pharmaceuticals has a 1 year low of $14.65 and a 1 year high of $36.42. The stock has a fifty day simple moving average of $30.53 and a 200 day simple moving average of $30.45. The stock has a market cap of $1.78 billion, a P/E ratio of -18.76 and a beta of 1.58.

Xenon Pharmaceuticals (NASDAQ:XENEGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.03. Xenon Pharmaceuticals had a negative return on equity of 20.94% and a negative net margin of 360.80%. The firm had revenue of $8.77 million for the quarter, compared to analyst estimates of $9.22 million. During the same quarter last year, the company posted ($0.42) earnings per share. As a group, analysts forecast that Xenon Pharmaceuticals will post -2.07 earnings per share for the current year.

About Xenon Pharmaceuticals

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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 epilepsy 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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