Lexicon Pharmaceuticals (NASDAQ:LXRX) Downgraded by Zacks Research to Hold

Zacks Research cut shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) from a strong-buy rating to a hold rating in a research report sent to investors on Monday,Zacks.com reports.

Several other research analysts also recently weighed in on LXRX. Citigroup upped their target price 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. Weiss Ratings upgraded Lexicon Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 23rd. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Lexicon Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $4.55.

Lexicon Pharmaceuticals Price Performance

Shares of NASDAQ:LXRX opened at $2.49 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 18.80 and a quick ratio of 18.77. Lexicon Pharmaceuticals has a 1-year low of $1.02 and a 1-year high of $2.68. The company has a market capitalization of $1.11 billion, a P/E ratio of -35.57 and a beta of 1.08. The firm’s 50 day simple moving average is $2.19 and its two-hundred day simple moving average is $1.84.

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

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Large investors have recently made changes to their positions in the company. Siren L.L.C. grew its holdings in Lexicon Pharmaceuticals by 13.8% during the 1st quarter. Siren L.L.C. now owns 44,303,518 shares of the biopharmaceutical company’s stock valued at $69,113,000 after buying an additional 5,384,615 shares in the last quarter. UBS Group AG increased its stake in Lexicon Pharmaceuticals by 752.1% in the 4th quarter. UBS Group AG now owns 3,007,237 shares of the biopharmaceutical company’s stock worth $3,458,000 after acquiring an additional 2,654,315 shares during the last quarter. ADAR1 Capital Management LLC purchased a new stake in shares of Lexicon Pharmaceuticals during the 1st quarter worth approximately $1,170,000. Ishara Investments LP purchased a new stake in shares of Lexicon Pharmaceuticals during the 4th quarter worth approximately $1,012,000. Finally, Headlands Technologies LLC boosted its position in shares of Lexicon Pharmaceuticals by 174.2% during the 4th quarter. Headlands Technologies LLC now owns 136,113 shares of the biopharmaceutical company’s stock valued at $157,000 after acquiring an additional 86,466 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.