Lexicon Pharmaceuticals (NASDAQ:LXRX) Shares Down 4.4% – Here’s What Happened

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)’s share price was down 4.4% on Monday . The company traded as low as $2.29 and last traded at $2.2850. Approximately 358,949 shares were traded during trading, a decline of 88% from the average daily volume of 2,985,133 shares. The stock had previously closed at $2.39.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on LXRX shares. Weiss Ratings downgraded Lexicon Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, July 8th. HC Wainwright reissued a “buy” rating and set a $6.00 price objective on shares of Lexicon Pharmaceuticals in a research report on Monday, March 23rd. Zacks Research upgraded Lexicon Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 3rd. Finally, Citigroup raised their target price on Lexicon Pharmaceuticals from $2.30 to $3.10 and gave the company a “buy” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $4.55.

Lexicon Pharmaceuticals Price Performance

The firm has a market cap of $1.02 billion, a P/E ratio of -32.92 and a beta of 1.05. The stock’s 50-day moving average is $2.17 and its 200-day moving average is $1.74. 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 results on Thursday, May 7th. The biopharmaceutical company reported ($0.00) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.04. The firm had revenue of $21.10 million during the quarter, compared to the consensus estimate of $9.79 million. Lexicon Pharmaceuticals had a negative net margin of 37.46% and a negative return on equity of 18.64%. As a group, equities analysts anticipate that Lexicon Pharmaceuticals, Inc. will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. CTC Alternative Strategies Ltd. bought a new position in Lexicon Pharmaceuticals during the first quarter valued at about $27,000. Bank of America Corp DE lifted its position 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 acquiring an additional 424,006 shares during the period. ADAR1 Capital Management LLC acquired a new stake in shares of Lexicon Pharmaceuticals during the 1st quarter worth approximately $1,170,000. Bridgewater Advisors Inc. bought a new stake in shares of Lexicon Pharmaceuticals during the first quarter valued at approximately $128,000. Finally, Renaissance Technologies LLC increased its position in shares of Lexicon Pharmaceuticals by 508.0% during the first quarter. Renaissance Technologies LLC now owns 1,600,500 shares of the biopharmaceutical company’s stock valued at $2,497,000 after purchasing an additional 1,337,246 shares during the period. Institutional investors own 74.70% of the company’s stock.

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.