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 on Friday. Traders bought 2,504 call options on the stock. This represents an increase of 61% compared to the typical volume of 1,558 call options.

Lexicon Pharmaceuticals Trading Down 19.2 %

Lexicon Pharmaceuticals stock traded down $0.11 during mid-day trading on Monday, hitting $0.46. The company's stock had a trading volume of 79,206,829 shares, compared to its average volume of 5,901,604. The business has a 50 day moving average price of $0.61 and a 200-day moving average price of $0.99. The company has a debt-to-equity ratio of 0.56, a current ratio of 7.45 and a quick ratio of 7.43. Lexicon Pharmaceuticals has a 12 month low of $0.28 and a 12 month high of $2.45. The stock has a market cap of $113.47 million, a price-to-earnings ratio of -0.61 and a beta of 1.04.

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

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Analyst Ratings Changes

Several research analysts have recently commented on the company. StockNews.com began coverage on Lexicon Pharmaceuticals in a report on Friday. They set a "sell" rating for the company. Leerink Partnrs cut shares of Lexicon Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Leerink Partners reiterated a "market perform" rating and issued a $1.00 target price (down from $2.00) on shares of Lexicon Pharmaceuticals in a research report on Tuesday, March 4th. HC Wainwright restated a "buy" rating and set a $4.00 price target on shares of Lexicon Pharmaceuticals in a research report on Friday. Finally, Piper Sandler cut their price objective on Lexicon Pharmaceuticals from $10.00 to $6.00 and set an "overweight" rating for the company in a report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lexicon Pharmaceuticals currently has an average rating of "Hold" and a consensus price target of $3.67.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets raised its holdings in shares of Lexicon Pharmaceuticals by 71.2% during the third quarter. BNP Paribas Financial Markets now owns 31,853 shares of the biopharmaceutical company's stock valued at $50,000 after acquiring an additional 13,246 shares in the last quarter. Bayesian Capital Management LP bought a new position in Lexicon Pharmaceuticals in the 4th quarter worth $31,000. RPO LLC purchased a new stake in shares of Lexicon Pharmaceuticals in the 4th quarter worth about $33,000. Renaissance Technologies LLC bought a new stake in shares of Lexicon Pharmaceuticals during the 4th quarter valued at about $38,000. Finally, Arizona State Retirement System raised its stake in Lexicon Pharmaceuticals by 34.4% in the fourth quarter. Arizona State Retirement System now owns 62,976 shares of the biopharmaceutical company's stock worth $47,000 after buying an additional 16,136 shares in the last quarter. Institutional investors own 74.70% of the company's stock.

About Lexicon Pharmaceuticals

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.