Lexicon Pharmaceuticals, Inc. (LXRX) Trading Up -1.3% Following Insider Buying Activity
Shares of Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) were up 1.3% during mid-day trading on Thursday following insider buying activity. The stock traded as high as $10.49 and last traded at $10.03. Approximately 539,758 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 811,331 shares. The stock had previously closed at $10.16.
Specifically, insider Lonnel Coats acquired 30,000 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was acquired at an average price of $12.54 per share, with a total value of $376,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Public Equities L.P. Invus acquired 180,727 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was purchased at an average cost of $10.11 per share, with a total value of $1,827,149.97. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 945,353 shares of company stock valued at $9,304,953. 5.77% of the stock is owned by insiders.
Several analysts have issued reports on LXRX shares. Wedbush reissued an “ourperform” rating and issued a $39.00 price objective on shares of Lexicon Pharmaceuticals in a research note on Monday, August 7th. Zacks Investment Research lowered shares of Lexicon Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. BidaskClub lowered shares of Lexicon Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Cowen and Company reaffirmed a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Tuesday, August 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $21.00 target price on shares of Lexicon Pharmaceuticals in a research report on Sunday, September 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Lexicon Pharmaceuticals has a consensus rating of “Hold” and an average target price of $28.75.
The company has a quick ratio of 1.65, a current ratio of 1.66 and a debt-to-equity ratio of 1.09.
Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.36) by $0.07. The company had revenue of $26.94 million for the quarter, compared to analyst estimates of $27.97 million. Lexicon Pharmaceuticals had a negative net margin of 165.69% and a negative return on equity of 111.68%. Lexicon Pharmaceuticals’s revenue was down 2.8% compared to the same quarter last year. During the same period last year, the company posted ($0.35) earnings per share. research analysts expect that Lexicon Pharmaceuticals, Inc. will post -1.45 earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Cubist Systematic Strategies LLC acquired a new stake in Lexicon Pharmaceuticals in the third quarter valued at approximately $149,000. Parametric Portfolio Associates LLC acquired a new stake in Lexicon Pharmaceuticals in the second quarter valued at approximately $182,000. C WorldWide Group Holding A S lifted its stake in shares of Lexicon Pharmaceuticals by 49.6% during the third quarter. C WorldWide Group Holding A S now owns 16,146 shares of the biopharmaceutical company’s stock worth $198,000 after buying an additional 5,353 shares during the period. First Mercantile Trust Co. lifted its stake in shares of Lexicon Pharmaceuticals by 11.2% during the second quarter. First Mercantile Trust Co. now owns 12,212 shares of the biopharmaceutical company’s stock worth $201,000 after buying an additional 1,227 shares during the period. Finally, Cim Investment Mangement Inc. acquired a new stake in shares of Lexicon Pharmaceuticals during the second quarter worth $262,000.
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About Lexicon Pharmaceuticals
Lexicon Pharmaceuticals, Inc is a biopharmaceutical company. The Company focuses on the development and commercialization of breakthrough treatments for human disease. Its drug programs include XERMELO (telotristat ethyl), sotagliflozin, LX2761 and LX9211. It also has a number of additional compounds into various stages of clinical and preclinical development.
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