Lexicon Pharmaceuticals Target of Unusually Large Options Trading (NASDAQ:LXRX)

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) was the recipient of unusually large options trading activity on Friday. Traders acquired 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.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on LXRX shares. Needham & Company LLC restated 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 target price (down previously from $2.00) on shares of Lexicon Pharmaceuticals in a research note on Tuesday, March 4th. StockNews.com initiated coverage on shares of Lexicon Pharmaceuticals in a research note on Friday. They set a “sell” rating for the company. Leerink Partnrs downgraded Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, Piper Sandler dropped their target price 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 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, the company has a consensus rating of “Hold” and an average price target of $3.67.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Several institutional investors have recently bought and sold shares of the business. FMR LLC grew its holdings 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 during the last quarter. Charles Schwab Investment Management Inc. lifted its position 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 in the last quarter. XTX Topco Ltd bought a new stake in Lexicon Pharmaceuticals during the 3rd quarter worth about $126,000. Geode Capital Management LLC increased its position in Lexicon Pharmaceuticals by 8.4% in 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 acquiring an additional 273,436 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Lexicon Pharmaceuticals in the third quarter worth about $189,000. Institutional investors own 74.70% of the company’s stock.

Lexicon Pharmaceuticals Trading Up 64.1 %

Shares of Lexicon Pharmaceuticals stock opened at $0.57 on Friday. Lexicon Pharmaceuticals has a 12-month low of $0.28 and a 12-month high of $2.45. The stock has a market capitalization of $140.48 million, a P/E ratio of -0.76 and a beta of 1.04. The company has a 50-day simple moving average of $0.61 and a 200 day simple moving average of $1.00. The company has a quick ratio of 7.43, a current ratio of 7.45 and a debt-to-equity ratio of 0.56.

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

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.