Lexicon Pharmaceuticals (NASDAQ:LXRX) Shares Up 8.7% – Time to Buy?

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)’s share price rose 8.7% on Wednesday . The company traded as high as $1.6750 and last traded at $1.6960. Approximately 700,547 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 2,868,474 shares. The stock had previously closed at $1.56.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LXRX. Citigroup boosted their target price on shares of Lexicon Pharmaceuticals from $2.10 to $2.30 and gave the stock a “buy” rating in a research report on Tuesday, March 10th. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 price target on shares of Lexicon Pharmaceuticals in a research 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 analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $4.15.

Lexicon Pharmaceuticals Price Performance

The company has a current ratio of 4.88, a quick ratio of 4.87 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average of $1.51 and a 200 day moving average of $1.39. The firm has a market capitalization of $705.43 million, a PE ratio of -11.89 and a beta of 0.94.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its quarterly earnings data on Thursday, March 5th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. Lexicon Pharmaceuticals had a negative net margin of 101.08% and a negative return on equity of 41.94%. The firm had revenue of $5.49 million for the quarter, compared to the consensus estimate of $3.14 million. As a group, research analysts anticipate that Lexicon Pharmaceuticals, Inc. will post -0.66 EPS for the current fiscal year.

Insider Activity

In other news, Director Invus Global Management, Llc purchased 1,538,462 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were acquired at an average cost of $1.30 per share, for a total transaction of $2,000,000.60. Following the completion of the acquisition, the director owned 1,538,462 shares in the company, valued at $2,000,000.60. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Raymond Debbane acquired 100,000 shares of Lexicon Pharmaceuticals stock in a transaction on Monday, February 23rd. The stock was purchased at an average cost of $1.47 per share, with a total value of $147,000.00. Following the completion of the transaction, the director directly owned 1,904,186 shares in the company, valued at $2,799,153.42. This represents a 5.54% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have purchased 1,790,462 shares of company stock worth $2,369,981. 14.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Several institutional investors have recently modified their holdings of the business. Hudson Bay Capital Management LP purchased a new stake in shares of Lexicon Pharmaceuticals during the second quarter valued at approximately $26,000. Security National Bank of Sioux City Iowa IA purchased a new position in Lexicon Pharmaceuticals in the fourth quarter worth $31,000. Leonteq Securities AG bought a new position in Lexicon Pharmaceuticals in the 4th quarter valued at $34,000. EntryPoint Capital LLC purchased a new stake in shares of Lexicon Pharmaceuticals during the 4th quarter valued at $39,000. Finally, Virtu Financial LLC purchased a new stake in shares of Lexicon Pharmaceuticals during the 4th quarter valued at $42,000. 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.