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

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) was the target of some unusual options trading activity on Wednesday. Stock investors purchased 4,063 put options on the company. This is an increase of approximately 2,362% compared to the average volume of 165 put options.

Xenon Pharmaceuticals Trading Down 0.2%

XENE opened at $55.07 on Thursday. The stock has a market capitalization of $4.58 billion, a P/E ratio of -12.63 and a beta of 0.91. The stock has a 50-day moving average price of $44.51 and a 200-day moving average price of $42.28. Xenon Pharmaceuticals has a 12-month low of $26.74 and a 12-month high of $63.95.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings data on Thursday, February 26th. The biopharmaceutical company reported ($1.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.20) by ($0.11). During the same quarter in the prior year, the firm earned ($0.84) earnings per share. On average, equities research analysts predict that Xenon Pharmaceuticals will post -3.1 EPS for the current year.

Insider Buying and Selling at Xenon Pharmaceuticals

In other news, insider Andrea Difabio sold 1,342 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $55.23, for a total value of $74,118.66. Following the completion of the transaction, the insider directly owned 7,301 shares of the company’s stock, valued at $403,234.23. This trade represents a 15.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ian Mortimer sold 7,308 shares of Xenon Pharmaceuticals stock in a transaction on Friday, March 13th. The shares were sold at an average price of $55.23, for a total value of $403,620.84. Following the completion of the transaction, the chief executive officer owned 19,923 shares of the company’s stock, valued at approximately $1,100,347.29. This trade represents a 26.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 336,707 shares of company stock valued at $19,622,565 in the last 90 days. 4.07% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Elevation Point Wealth Partners LLC bought a new stake in shares of Xenon Pharmaceuticals in the 2nd quarter worth approximately $32,000. Danske Bank A S bought a new position in shares of Xenon Pharmaceuticals during the 3rd quarter valued at $32,000. Blue Trust Inc. grew its holdings in shares of Xenon Pharmaceuticals by 2,560.7% during the 4th quarter. Blue Trust Inc. now owns 745 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 717 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in Xenon Pharmaceuticals in the 4th quarter worth $33,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in Xenon Pharmaceuticals in the 3rd quarter worth $39,000. 95.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

XENE has been the topic of several analyst reports. HC Wainwright upped their price target on Xenon Pharmaceuticals from $53.00 to $74.00 and gave the company a “buy” rating in a research report on Tuesday, March 10th. Chardan Capital raised shares of Xenon Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, November 19th. Morgan Stanley set a $97.00 target price on shares of Xenon Pharmaceuticals in a report on Monday, March 9th. Wolfe Research initiated coverage on shares of Xenon Pharmaceuticals in a research note on Monday, February 23rd. They issued an “outperform” rating and a $60.00 target price on the stock. Finally, Wells Fargo & Company raised their price target on shares of Xenon Pharmaceuticals from $49.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, March 10th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Xenon Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $71.88.

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.