Lexicon Pharmaceuticals (NASDAQ:LXRX) Shares Gap Down – What’s Next?

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $2.21, but opened at $2.11. Lexicon Pharmaceuticals shares last traded at $2.2180, with a volume of 144,516 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on LXRX shares. Citigroup increased their price target on shares of Lexicon Pharmaceuticals from $2.30 to $3.10 and gave the stock a “buy” rating in a report on Monday, May 11th. HC Wainwright reissued a “buy” rating and issued a $6.00 price target on shares of Lexicon Pharmaceuticals in a report on Monday, March 23rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $4.55.

Lexicon Pharmaceuticals Stock Performance

The company has a quick ratio of 18.77, a current ratio of 18.80 and a debt-to-equity ratio of 0.24. The company’s 50-day moving average is $1.78 and its two-hundred day moving average is $1.51. The company has a market capitalization of $983.90 million, a P/E ratio of -31.50 and a beta of 0.97.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported $0.00 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.04. The company had revenue of $21.10 million for the quarter, compared to analysts’ expectations of $9.79 million. Lexicon Pharmaceuticals had a negative net margin of 37.46% and a negative return on equity of 18.64%. Equities analysts anticipate that Lexicon Pharmaceuticals, Inc. will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Lexicon Pharmaceuticals

In related news, Director Raymond Debbane acquired 100,000 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were bought at an average cost of $1.47 per share, for a total transaction of $147,000.00. Following the completion of the transaction, the director owned 1,904,186 shares in the company, valued at approximately $2,799,153.42. This trade represents a 5.54% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased 202,000 shares of company stock valued at $297,980 in the last quarter. 14.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in Lexicon Pharmaceuticals by 43.6% during the first quarter. Bank of New York Mellon Corp now owns 27,459 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 8,335 shares in the last quarter. R Squared Ltd raised its position in Lexicon Pharmaceuticals by 45.3% during the fourth quarter. R Squared Ltd now owns 46,579 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 14,530 shares in the last quarter. Bank of America Corp DE raised its position in Lexicon Pharmaceuticals by 80.1% during the third quarter. Bank of America Corp DE now owns 57,804 shares of the biopharmaceutical company’s stock valued at $78,000 after purchasing an additional 25,707 shares in the last quarter. Vermillion & White Wealth Management Group LLC raised its position in Lexicon Pharmaceuticals by 400.0% during the third quarter. Vermillion & White Wealth Management Group LLC now owns 32,500 shares of the biopharmaceutical company’s stock valued at $44,000 after purchasing an additional 26,000 shares in the last quarter. Finally, Security National Bank of Sioux City Iowa IA purchased a new stake in Lexicon Pharmaceuticals during the fourth quarter valued at about $31,000. 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.