Lexicon Pharmaceuticals (NASDAQ:LXRX) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) from a hold rating to a sell rating in a report published on Saturday morning.

Several other analysts also recently issued reports on LXRX. Zacks Research downgraded Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Monday, August 3rd. Weiss Ratings upgraded Lexicon Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 23rd. Finally, Citigroup increased their target price on Lexicon Pharmaceuticals from $2.30 to $3.10 and gave the stock a “buy” rating in a research report on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.55.

Lexicon Pharmaceuticals Price Performance

LXRX opened at $2.40 on Friday. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -16.00 and a beta of 1.08. Lexicon Pharmaceuticals has a fifty-two week low of $1.02 and a fifty-two week high of $2.68. The company’s 50-day moving average price is $2.21 and its 200 day moving average price is $1.87. The company has a quick ratio of 13.29, a current ratio of 13.37 and a debt-to-equity ratio of 0.29.

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 analysts’ consensus estimates of ($0.05) by ($0.01). Lexicon Pharmaceuticals had a negative return on equity of 37.53% and a negative net margin of 147.38%.The business had revenue of $0.69 million during the quarter, compared to the consensus estimate of $3.99 million. As a group, sell-side analysts expect that Lexicon Pharmaceuticals will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Siren L.L.C. grew its holdings in Lexicon Pharmaceuticals by 13.8% in the 1st quarter. Siren L.L.C. now owns 44,303,518 shares of the biopharmaceutical company’s stock worth $69,113,000 after buying an additional 5,384,615 shares in the last quarter. UBS Group AG raised its stake in Lexicon Pharmaceuticals by 752.1% during the 4th quarter. UBS Group AG now owns 3,007,237 shares of the biopharmaceutical company’s stock valued at $3,458,000 after acquiring an additional 2,654,315 shares in the last quarter. Renaissance Technologies LLC raised its stake in Lexicon Pharmaceuticals by 508.0% during the 1st quarter. Renaissance Technologies LLC now owns 1,600,500 shares of the biopharmaceutical company’s stock valued at $2,497,000 after acquiring an additional 1,337,246 shares in the last quarter. ADAR1 Capital Management LLC acquired a new position in Lexicon Pharmaceuticals during the 1st quarter worth $1,170,000. Finally, Ishara Investments LP acquired a new position in Lexicon Pharmaceuticals during the 4th quarter worth $1,012,000. 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.