Lexicon Pharmaceuticals (NASDAQ:LXRX) Trading Down 5.9% – Here’s Why

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)’s share price fell 5.9% during mid-day trading on Tuesday . The stock traded as low as $2.48 and last traded at $2.4850. Approximately 1,775,322 shares traded hands during trading, a decline of 41% from the average daily volume of 3,004,663 shares. The stock had previously closed at $2.64.

Analysts Set New Price Targets

LXRX has been the subject of several recent research reports. Citigroup boosted their price target on Lexicon Pharmaceuticals from $2.30 to $3.10 and gave the company a “buy” rating in a research note on Monday, May 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a research note on Thursday, June 18th. Finally, HC Wainwright reissued a “buy” rating and issued a $6.00 target price on shares of Lexicon Pharmaceuticals in a research report on Monday, March 23rd. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $4.55.

Lexicon Pharmaceuticals Stock Down 7.0%

The company has a market cap of $1.09 billion, a price-to-earnings ratio of -35.35 and a beta of 1.06. The business has a 50-day simple moving average of $2.01 and a two-hundred day simple moving average of $1.64. The company has a quick ratio of 18.77, a current ratio of 18.80 and a debt-to-equity ratio of 0.24.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.00) 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 business had revenue of $21.10 million for the quarter, compared to analyst estimates of $9.79 million. As a group, equities analysts forecast that Lexicon Pharmaceuticals, Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Trading of Lexicon Pharmaceuticals

Large investors have recently modified their holdings of the company. Siren L.L.C. raised its holdings in Lexicon Pharmaceuticals by 13.8% in the 1st quarter. Siren L.L.C. now owns 44,303,518 shares of the biopharmaceutical company’s stock worth $69,113,000 after acquiring an additional 5,384,615 shares during the period. Vanguard Group Inc. grew its position in shares of Lexicon Pharmaceuticals by 7.6% in the third quarter. Vanguard Group Inc. now owns 9,521,874 shares of the biopharmaceutical company’s stock valued at $12,855,000 after purchasing an additional 670,838 shares during the last quarter. Millennium Management LLC increased its stake in shares of Lexicon Pharmaceuticals by 25.9% in the fourth quarter. Millennium Management LLC now owns 4,821,733 shares of the biopharmaceutical company’s stock worth $5,545,000 after purchasing an additional 991,073 shares during the period. UBS Group AG increased its stake in shares of Lexicon Pharmaceuticals by 752.1% in the fourth quarter. UBS Group AG now owns 3,007,237 shares of the biopharmaceutical company’s stock worth $3,458,000 after purchasing an additional 2,654,315 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Lexicon Pharmaceuticals by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 2,500,022 shares of the biopharmaceutical company’s stock worth $2,876,000 after purchasing an additional 102,099 shares during the last quarter. 74.70% of the stock is owned by institutional investors.

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.