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

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

Lexicon Pharmaceuticals Stock Up 64.1 %

Lexicon Pharmaceuticals stock opened at $0.57 on Friday. 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 fifty-two week low of $0.28 and a fifty-two week high of $2.45. The firm has a fifty day moving average price of $0.61 and a two-hundred day moving average price of $1.00. The firm has a market cap of $140.48 million, a price-to-earnings ratio of -0.76 and a beta of 1.04.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its quarterly earnings data on Thursday, March 6th. The biopharmaceutical company reported ($0.09) EPS for the quarter, topping 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 business had revenue of $26.55 million for the quarter, compared to analyst estimates of $6.48 million. As a group, analysts forecast that Lexicon Pharmaceuticals will post -0.66 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on LXRX shares. Leerink Partnrs downgraded 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 price objective (down from $2.00) on shares of Lexicon Pharmaceuticals in a report on Tuesday, March 4th. Piper Sandler reduced their price target 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. HC Wainwright reissued a “buy” rating and set a $4.00 price objective on shares of Lexicon Pharmaceuticals in a report on Friday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Lexicon Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $3.67.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. California State Teachers Retirement System grew its stake in shares of Lexicon Pharmaceuticals by 29.9% in the fourth quarter. California State Teachers Retirement System now owns 195,215 shares of the biopharmaceutical company’s stock worth $144,000 after acquiring an additional 44,915 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Lexicon Pharmaceuticals by 193.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 353,508 shares of the biopharmaceutical company’s stock valued at $261,000 after purchasing an additional 233,121 shares during the period. Tang Capital Management LLC grew its position in Lexicon Pharmaceuticals by 750.3% in the 4th quarter. Tang Capital Management LLC now owns 850,268 shares of the biopharmaceutical company’s stock worth $628,000 after purchasing an additional 750,268 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Lexicon Pharmaceuticals by 630.7% during the 4th quarter. Point72 Asset Management L.P. now owns 8,988,421 shares of the biopharmaceutical company’s stock worth $6,638,000 after purchasing an additional 7,758,371 shares during the period. Finally, Deutsche Bank AG raised its position in shares of Lexicon Pharmaceuticals by 378.0% during the fourth quarter. Deutsche Bank AG now owns 315,659 shares of the biopharmaceutical company’s stock valued at $234,000 after buying an additional 249,616 shares during the last quarter. 74.70% of the stock is currently owned by institutional investors and hedge funds.

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.