Lexicon Pharmaceuticals Sees Unusually High Options Volume (NASDAQ:LXRX)

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX - Get Free Report) was the recipient of some unusual options trading activity on Friday. Investors purchased 2,504 call options on the stock. This is an increase of approximately 61% compared to the typical daily volume of 1,558 call options.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LXRX. HC Wainwright restated a "buy" rating and issued a $4.00 price objective on shares of Lexicon Pharmaceuticals in a research note on Friday. StockNews.com initiated coverage on shares of Lexicon Pharmaceuticals in a research note on Friday. They set a "sell" rating for the company. Leerink Partnrs lowered Lexicon Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Piper Sandler cut their target price on Lexicon Pharmaceuticals from $10.00 to $6.00 and set an "overweight" rating for the company in a research report on Friday, March 7th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Lexicon Pharmaceuticals in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Lexicon Pharmaceuticals presently has a consensus rating of "Hold" and a consensus target price of $3.67.

Lexicon Pharmaceuticals Price Performance

NASDAQ LXRX traded up $0.03 during trading hours on Tuesday, reaching $0.49. 19,061,609 shares of the company's stock were exchanged, compared to its average volume of 5,960,708. The firm has a fifty day moving average of $0.60 and a 200-day moving average of $0.98. Lexicon Pharmaceuticals has a one year low of $0.28 and a one year high of $2.45. The stock has a market cap of $121.39 million, a PE ratio of -0.64 and a beta of 1.04. The company has a current ratio of 7.45, a quick ratio of 7.43 and a debt-to-equity ratio of 0.56.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last announced its earnings results on Thursday, March 6th. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, beating analysts' consensus estimates of ($0.11) by $0.02. Lexicon Pharmaceuticals had a negative return on equity of 107.38% and a negative net margin of 4,109.41%. The company had revenue of $26.55 million during the quarter, compared to analyst estimates of $6.48 million. On average, equities research analysts predict that Lexicon Pharmaceuticals will post -0.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Institutional investors have recently modified their holdings of the stock. Bayesian Capital Management LP acquired a new stake in shares of Lexicon Pharmaceuticals in the fourth quarter valued at approximately $31,000. RPO LLC acquired a new stake in shares of Lexicon Pharmaceuticals in the 4th quarter valued at $33,000. Renaissance Technologies LLC bought a new stake in Lexicon Pharmaceuticals during the 4th quarter worth about $38,000. Arizona State Retirement System lifted its position in Lexicon Pharmaceuticals by 34.4% during the 4th quarter. Arizona State Retirement System now owns 62,976 shares of the biopharmaceutical company's stock valued at $47,000 after purchasing an additional 16,136 shares during the period. Finally, Teacher Retirement System of Texas boosted its stake in shares of Lexicon Pharmaceuticals by 60.3% in the 4th quarter. Teacher Retirement System of Texas now owns 65,415 shares of the biopharmaceutical company's stock valued at $48,000 after purchasing an additional 24,615 shares during the last quarter. 74.70% of the stock is owned by institutional investors.

Lexicon Pharmaceuticals Company Profile

Lexicon Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of pharmaceutical products. Its orally-delivered small molecule drug candidates under development comprise Sotagliflozin that completed Phase III clinical trials for the for the treatment of heart failure and type 1 diabetes; and LX9211, which is in Phase II clinical development for the treatment of neuropathic pain and LX2761, which is in Phase I clinical development for gastrointestinal tract.