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

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) saw unusually large options trading activity on Wednesday. Traders purchased 4,063 put options on the company. This is an increase of 2,362% compared to the average daily volume of 165 put options.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on XENE. HC Wainwright increased their price target on Xenon Pharmaceuticals from $53.00 to $74.00 and gave the stock a “buy” rating in a research report on Tuesday, March 10th. Guggenheim reissued a “buy” rating and issued a $90.00 price objective on shares of Xenon Pharmaceuticals in a report on Monday, March 9th. Stifel Nicolaus set a $66.00 target price on Xenon Pharmaceuticals in a research note on Tuesday, February 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a report on Friday, January 9th. Finally, Wedbush reduced their price target on Xenon Pharmaceuticals from $64.00 to $63.00 and set an “outperform” rating for the company in a research report on Monday, March 16th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $71.88.

Insider Buying and Selling at Xenon Pharmaceuticals

In other news, CEO Ian Mortimer sold 7,308 shares of the company’s 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 sale, the chief executive officer directly owned 19,923 shares of the company’s stock, valued at $1,100,347.29. This represents a 26.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher John Kenney sold 1,410 shares of the company’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $55.23, for a total transaction of $77,874.30. Following the completion of the sale, the insider directly owned 7,069 shares in the company, valued at $390,420.87. This trade represents a 16.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 296,707 shares of company stock worth $17,845,365. Company insiders own 4.07% of the company’s stock.

Hedge Funds Weigh In On Xenon Pharmaceuticals

A number of large investors have recently bought and sold shares of the business. Elevation Point Wealth Partners LLC acquired a new stake in Xenon Pharmaceuticals in the second quarter valued at approximately $32,000. Danske Bank A S acquired a new position in shares of Xenon Pharmaceuticals during the 3rd quarter worth approximately $32,000. Blue Trust Inc. raised its stake 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 worth $33,000 after buying an additional 717 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of Xenon Pharmaceuticals during the 4th quarter valued at approximately $33,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Xenon Pharmaceuticals during the 3rd quarter valued at approximately $39,000. Institutional investors and hedge funds own 95.45% of the company’s stock.

Xenon Pharmaceuticals Stock Performance

XENE stock opened at $56.85 on Friday. Xenon Pharmaceuticals has a one year low of $26.74 and a one year high of $63.95. The firm’s fifty day moving average is $47.69 and its 200 day moving average is $43.58. The firm has a market cap of $4.73 billion, a PE ratio of -13.04 and a beta of 0.74.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued 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 period last year, the business posted ($0.84) EPS. Research analysts predict that Xenon Pharmaceuticals will post -3.1 earnings per share for the current fiscal year.

About Xenon Pharmaceuticals

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.