Lexicon Pharmaceuticals (NASDAQ:LXRX) Shares Down 5.2% – Here’s Why

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)’s share price traded down 5.2% on Monday. The stock traded as low as $1.72 and last traded at $1.7250. 1,402,888 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 2,991,611 shares. The stock had previously closed at $1.82.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Cantor Fitzgerald began coverage on Lexicon Pharmaceuticals in a research report on Monday, September 28th. They issued an “overweight” rating and a $8.00 price objective on the stock. Wall Street Zen downgraded Lexicon Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Zacks Research cut Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Monday, August 3rd. Finally, Weiss Ratings upgraded Lexicon Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 23rd. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $5.70.

Lexicon Pharmaceuticals Price Performance

The firm’s fifty day simple moving average is $2.20 and its 200 day simple moving average is $2.06. The firm has a market cap of $767.56 million, a P/E ratio of -11.50 and a beta of 1.07. The company has a debt-to-equity ratio of 0.29, a quick ratio of 13.29 and a current ratio of 13.37.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $0.69 million during the quarter, compared to the consensus estimate of $3.99 million. Lexicon Pharmaceuticals had a negative return on equity of 37.53% and a negative net margin of 147.38%. As a group, analysts forecast that Lexicon Pharmaceuticals, Inc. will post -0.17 earnings per share for the current year.

Institutional Trading of Lexicon Pharmaceuticals

Several hedge funds have recently modified their holdings of the company. Siren L.L.C. increased its position in Lexicon Pharmaceuticals by 13.8% in the first quarter. Siren L.L.C. now owns 44,303,518 shares of the biopharmaceutical company’s stock worth $69,113,000 after purchasing an additional 5,384,615 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Lexicon Pharmaceuticals by 508.0% in the 1st quarter. Renaissance Technologies LLC now owns 1,600,500 shares of the biopharmaceutical company’s stock worth $2,497,000 after buying an additional 1,337,246 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Lexicon Pharmaceuticals in the 2nd quarter worth about $1,365,000. Bank of America Corp DE increased its holdings in shares of Lexicon Pharmaceuticals by 415.3% in the 1st quarter. Bank of America Corp DE now owns 526,103 shares of the biopharmaceutical company’s stock worth $821,000 after buying an additional 424,006 shares during the last quarter. Finally, ADAR1 Capital Management LLC purchased a new stake in shares of Lexicon Pharmaceuticals during the 1st quarter valued at about $1,170,000. 74.70% of the stock is owned by hedge funds and other institutional investors.

Lexicon Pharmaceuticals Company Profile

Lexicon Pharmaceuticals, Inc is a biopharmaceutical company focused on discovering and developing medicines for diseases with significant unmet medical needs. The company uses its expertise in human genetics and gene biology to identify novel drug targets and develop small-molecule therapies.

Lexicon’s marketed products include XERMELO (telotristat ethyl), an oral treatment for carcinoid syndrome diarrhea in adults whose symptoms are inadequately controlled by short-acting somatostatin analog therapy.