Traders Buy High Volume of Call Options on Lexicon Pharmaceuticals (NASDAQ:LXRX)

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) was the recipient of some unusual options trading on Friday. Traders acquired 2,504 call options on the company. This represents an increase of 61% compared to the average volume of 1,558 call options.

Lexicon Pharmaceuticals Price Performance

Shares of NASDAQ LXRX traded up $0.25 on Friday, hitting $0.60. The company’s stock had a trading volume of 229,836,459 shares, compared to its average volume of 4,924,403. The company has a debt-to-equity ratio of 0.56, a current ratio of 7.45 and a quick ratio of 7.43. The stock has a 50 day moving average of $0.61 and a 200-day moving average of $1.01. Lexicon Pharmaceuticals has a 12-month low of $0.28 and a 12-month high of $2.47. The company has a market capitalization of $147.25 million, a price-to-earnings ratio of -0.79 and a beta of 1.04.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last announced its earnings results on Thursday, March 6th. The biopharmaceutical company reported ($0.09) EPS 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 firm had revenue of $26.55 million for the quarter, compared to analysts’ expectations of $6.48 million. As a group, research analysts predict that Lexicon Pharmaceuticals will post -0.66 EPS for the current year.

Institutional Trading of Lexicon Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bayesian Capital Management LP acquired a new stake in shares of Lexicon Pharmaceuticals during the 4th quarter worth about $31,000. RPO LLC acquired a new position in Lexicon Pharmaceuticals during the fourth quarter worth approximately $33,000. Renaissance Technologies LLC acquired a new position in shares of Lexicon Pharmaceuticals in the 4th quarter valued at $38,000. Arizona State Retirement System grew its stake in shares of 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 buying an additional 16,136 shares during the period. Finally, Teacher Retirement System of Texas increased its holdings in shares of Lexicon Pharmaceuticals by 60.3% during the 4th quarter. Teacher Retirement System of Texas now owns 65,415 shares of the biopharmaceutical company’s stock worth $48,000 after buying an additional 24,615 shares during the last quarter. Hedge funds and other institutional investors own 74.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on LXRX shares. Needham & Company LLC reiterated a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Monday, March 3rd. HC Wainwright reissued a “buy” rating and set a $4.00 price objective on shares of Lexicon Pharmaceuticals in a report on Monday, March 3rd. Piper Sandler dropped their target price on shares of Lexicon Pharmaceuticals from $10.00 to $6.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Leerink Partnrs lowered Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Finally, Leerink Partners reaffirmed a “market perform” rating and issued a $1.00 price objective (down from $2.00) on shares of Lexicon Pharmaceuticals in a research note on Tuesday, March 4th. One 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. Based on data from MarketBeat, Lexicon Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $3.67.

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.