Lexicon Pharmaceuticals (NASDAQ:LXRX) Shares Down 4.4% – Here’s What Happened
by Michael Walen · The Markets DailyLexicon Pharmaceuticals, Inc. (NASDAQ:LXRX – Get Free Report)’s share price was down 4.4% during mid-day trading on Monday . The stock traded as low as $2.29 and last traded at $2.2850. 358,949 shares traded hands during trading, a decline of 88% from the average daily volume of 2,985,133 shares. The stock had previously closed at $2.39.
Analyst Ratings Changes
LXRX has been the topic of several recent analyst reports. Weiss Ratings cut Lexicon Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, July 8th. Citigroup increased their target price on shares of Lexicon Pharmaceuticals from $2.30 to $3.10 and gave the company a “buy” rating in a report on Monday, May 11th. Finally, Zacks Research upgraded shares of Lexicon Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Friday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.55.
Read Our Latest Stock Analysis on Lexicon Pharmaceuticals
Lexicon Pharmaceuticals Stock Up 2.1%
The stock has a fifty day moving average of $2.17 and a 200 day moving average of $1.76. The firm has a market capitalization of $1.06 billion, a P/E ratio of -34.00 and a beta of 1.05. The company has a debt-to-equity ratio of 0.24, a current ratio of 18.80 and a quick ratio of 18.77.
Lexicon Pharmaceuticals (NASDAQ:LXRX – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.00) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.04. Lexicon Pharmaceuticals had a negative return on equity of 18.64% and a negative net margin of 37.46%.The firm had revenue of $21.10 million during the quarter, compared to the consensus estimate of $9.79 million. On average, research analysts anticipate that Lexicon Pharmaceuticals, Inc. will post -0.17 EPS for the current fiscal year.
Institutional Trading of Lexicon Pharmaceuticals
Large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its position in Lexicon Pharmaceuticals by 27.4% in the fourth quarter. Bank of America Corp DE now owns 136,407 shares of the biopharmaceutical company’s stock worth $101,000 after acquiring an additional 29,319 shares during the period. Invesco Ltd. increased its stake in shares of Lexicon Pharmaceuticals by 173.5% during the 1st quarter. Invesco Ltd. now owns 285,759 shares of the biopharmaceutical company’s stock worth $132,000 after purchasing an additional 181,265 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of Lexicon Pharmaceuticals in the 1st quarter worth approximately $541,000. Acadian Asset Management LLC bought a new stake in shares of Lexicon Pharmaceuticals in the 1st quarter worth approximately $263,000. Finally, XTX Topco Ltd lifted its stake in Lexicon Pharmaceuticals by 431.4% in the second quarter. XTX Topco Ltd now owns 66,276 shares of the biopharmaceutical company’s stock valued at $63,000 after purchasing an additional 53,805 shares during the last quarter. Hedge funds and other institutional investors own 74.70% of the company’s stock.
Lexicon Pharmaceuticals Company Profile
Lexicon Pharmaceuticals, Inc is a biopharmaceutical company focused on the discovery and development of novel medicines through its proprietary genome biology platform. By leveraging large-scale gene knockout libraries, the company identifies potential therapeutic targets and advances them through preclinical and clinical development. Lexicon’s approach emphasizes the translation of genetic insights into targeted therapies for a range of human diseases.
The company’s most advanced product is telotristat ethyl (sold under the brand name XERMELO), an oral treatment approved for the management of carcinoid syndrome diarrhea in patients inadequately controlled by somatostatin analog therapy.