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

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) was the target of unusually large options trading on Friday. Stock traders acquired 2,504 call options on the stock. This represents an increase of 61% compared to the average daily volume of 1,558 call options.

Lexicon Pharmaceuticals Trading Up 64.1 %

Shares of NASDAQ:LXRX opened at $0.57 on Friday. The company has a market capitalization of $140.48 million, a PE ratio of -0.76 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 has a 12-month low of $0.28 and a 12-month high of $2.45. The business’s fifty day simple moving average is $0.61 and its 200-day simple moving average is $1.00.

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

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC increased its position in shares of Lexicon Pharmaceuticals by 28.9% during the third quarter. FMR LLC now owns 49,867,042 shares of the biopharmaceutical company’s stock worth $78,291,000 after purchasing an additional 11,179,919 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Lexicon Pharmaceuticals by 4.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,417,295 shares of the biopharmaceutical company’s stock worth $2,225,000 after buying an additional 58,147 shares during the last quarter. XTX Topco Ltd acquired a new position in Lexicon Pharmaceuticals during the 3rd quarter valued at about $126,000. Geode Capital Management LLC increased its position in Lexicon Pharmaceuticals by 8.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,523,971 shares of the biopharmaceutical company’s stock valued at $5,534,000 after buying an additional 273,436 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Lexicon Pharmaceuticals in the third quarter valued at about $189,000. Hedge funds and other institutional investors own 74.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. HC Wainwright restated a “buy” rating and issued a $4.00 price target on shares of Lexicon Pharmaceuticals in a report on Friday. StockNews.com initiated coverage on shares of Lexicon Pharmaceuticals in a research report on Friday. They set a “sell” rating on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Monday, March 3rd. Leerink Partners reissued a “market perform” rating and issued a $1.00 price objective (down previously from $2.00) on shares of Lexicon Pharmaceuticals in a research note on Tuesday, March 4th. Finally, Piper Sandler decreased 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Lexicon Pharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $3.67.

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.