Lexicon Pharmaceuticals Target of Unusually Large Options Trading (NASDAQ:LXRX)

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX - Get Free Report) was the target of unusually large options trading activity on Friday. Traders bought 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

LXRX has been the subject of a number of analyst reports. Piper Sandler decreased their target price on shares of Lexicon Pharmaceuticals from $10.00 to $6.00 and set an "overweight" rating for the company in a research note on Friday, March 7th. Leerink Partners restated a "market perform" rating and set a $1.00 price target (down from $2.00) on shares of Lexicon Pharmaceuticals in a report on Tuesday, March 4th. HC Wainwright reiterated a "buy" rating and issued a $4.00 price target on shares of Lexicon Pharmaceuticals in a research note on Friday. Needham & Company LLC reaffirmed a "hold" rating on shares of Lexicon Pharmaceuticals in a report on Monday, March 3rd. Finally, Leerink Partnrs cut shares of Lexicon Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Lexicon Pharmaceuticals has a consensus rating of "Hold" and a consensus target price of $3.67.

Institutional Trading of Lexicon Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bayesian Capital Management LP bought a new position in shares of Lexicon Pharmaceuticals in the fourth quarter worth approximately $31,000. RPO LLC bought a new position in Lexicon Pharmaceuticals in the 4th quarter worth $33,000. Renaissance Technologies LLC purchased a new stake in Lexicon Pharmaceuticals in the 4th quarter worth $38,000. Arizona State Retirement System raised its holdings in Lexicon Pharmaceuticals by 34.4% during the fourth quarter. Arizona State Retirement System now owns 62,976 shares of the biopharmaceutical company's stock valued at $47,000 after acquiring an additional 16,136 shares during the period. Finally, Teacher Retirement System of Texas lifted its position in shares of Lexicon Pharmaceuticals by 60.3% in the fourth quarter. Teacher Retirement System of Texas now owns 65,415 shares of the biopharmaceutical company's stock valued at $48,000 after acquiring an additional 24,615 shares in the last quarter. Hedge funds and other institutional investors own 74.70% of the company's stock.

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Lexicon Pharmaceuticals Stock Performance

LXRX traded down $0.11 during midday trading on Monday, hitting $0.46. 79,206,829 shares of the company traded hands, compared to its average volume of 5,901,604. The company's 50-day moving average is $0.61 and its 200 day moving average is $0.99. The company has a quick ratio of 7.43, a current ratio of 7.45 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $113.47 million, a PE ratio of -0.61 and a beta of 1.04. Lexicon Pharmaceuticals has a 52 week low of $0.28 and a 52 week high of $2.45.

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 (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $26.55 million for the quarter, compared to analysts' expectations of $6.48 million. On average, research analysts expect that Lexicon Pharmaceuticals will post -0.66 EPS for the current year.

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.