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

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) was the recipient of unusually large options trading activity on Friday. Investors purchased 2,504 call options on the company. This is an increase of 61% compared to the average volume of 1,558 call options.

Lexicon Pharmaceuticals Stock Up 64.1 %

LXRX opened at $0.57 on Friday. The business’s fifty day simple moving average is $0.61 and its 200 day simple moving average is $1.00. Lexicon Pharmaceuticals has a 52 week low of $0.28 and a 52 week high of $2.45. 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 stock has a market cap of $140.48 million, a PE ratio of -0.76 and a beta of 1.04.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its earnings results on Thursday, March 6th. The biopharmaceutical company reported ($0.09) earnings per share 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 company had revenue of $26.55 million during the quarter, compared to the consensus estimate of $6.48 million. As a group, research analysts expect that Lexicon Pharmaceuticals will post -0.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on LXRX shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Monday, March 3rd. HC Wainwright restated a “buy” rating and set a $4.00 price target on shares of Lexicon Pharmaceuticals in a research report on Friday. StockNews.com initiated coverage on Lexicon Pharmaceuticals in a research report on Friday. They issued a “sell” rating on the stock. Piper Sandler reduced 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. Finally, Leerink Partnrs cut Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $3.67.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets grew its stake 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 buying an additional 13,246 shares during the last quarter. Bayesian Capital Management LP bought a new position in Lexicon Pharmaceuticals during the 4th quarter worth approximately $31,000. RPO LLC bought a new stake in Lexicon Pharmaceuticals in the fourth quarter valued at approximately $33,000. Renaissance Technologies LLC purchased a new stake in shares of Lexicon Pharmaceuticals during the fourth quarter valued at approximately $38,000. Finally, Arizona State Retirement System grew its holdings in shares of 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 purchasing an additional 16,136 shares during 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.