Stock Traders Purchase High Volume of Lexicon Pharmaceuticals Call Options (NASDAQ:LXRX)

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

Lexicon Pharmaceuticals Stock Up 64.1 %

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

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

Analysts Set New Price Targets

Several research firms recently issued reports on LXRX. StockNews.com began coverage on Lexicon Pharmaceuticals in a research report on Friday. They set a “sell” rating for the company. Leerink Partnrs cut shares of Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Leerink Partners restated a “market perform” rating and set a $1.00 target price (down previously from $2.00) on shares of Lexicon Pharmaceuticals in a research report on Tuesday, March 4th. HC Wainwright reiterated a “buy” rating and issued a $4.00 price target on shares of Lexicon Pharmaceuticals in a report on Friday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Monday, March 3rd. One research 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.com, the company currently has an average rating of “Hold” and an average target price of $3.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in LXRX. BNP Paribas Financial Markets lifted its stake in shares of Lexicon Pharmaceuticals by 71.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 31,853 shares of the biopharmaceutical company’s stock valued at $50,000 after purchasing an additional 13,246 shares during the last quarter. Wellington Management Group LLP raised its holdings in Lexicon Pharmaceuticals by 2.1% during the 4th quarter. Wellington Management Group LLP now owns 747,996 shares of the biopharmaceutical company’s stock valued at $552,000 after buying an additional 15,249 shares during the period. Arizona State Retirement System lifted its position in 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 buying an additional 16,136 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in Lexicon Pharmaceuticals by 60.3% during the fourth 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 period. Finally, Bank of America Corp DE boosted its stake in Lexicon Pharmaceuticals by 27.4% during the fourth quarter. Bank of America Corp DE now owns 136,407 shares of the biopharmaceutical company’s stock worth $101,000 after buying an additional 29,319 shares during the period. Hedge funds and other institutional investors own 74.70% of the company’s stock.

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.