Lexicon Pharmaceuticals (NASDAQ:LXRX) Trading Up 9.7% – What’s Next?

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)’s share price shot up 9.7% during trading on Tuesday . The stock traded as high as $2.04 and last traded at $2.04. 3,281,414 shares changed hands during trading, a decline of 3% from the average session volume of 3,369,921 shares. The stock had previously closed at $1.86.

Analyst Ratings Changes

Several research firms recently commented on LXRX. Leerink Partners set a $6.00 price objective on Lexicon Pharmaceuticals and gave the company an “outperform” rating in a research report on Friday, October 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Wednesday. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of Lexicon Pharmaceuticals in a research report on Wednesday. Finally, StockNews.com raised Lexicon Pharmaceuticals to a “sell” rating in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Lexicon Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $8.00.

Lexicon Pharmaceuticals Stock Performance

The business has a fifty day simple moving average of $1.73 and a two-hundred day simple moving average of $1.77. The company has a quick ratio of 11.49, a current ratio of 11.51 and a debt-to-equity ratio of 0.41. The company has a market cap of $480.16 million, a P/E ratio of -2.50 and a beta of 1.28.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.01. Lexicon Pharmaceuticals had a negative return on equity of 105.38% and a negative net margin of 5,509.34%. The firm had revenue of $1.65 million for the quarter, compared to the consensus estimate of $2.74 million. During the same quarter last year, the company earned ($0.22) earnings per share. On average, sell-side analysts anticipate that Lexicon Pharmaceuticals, Inc. will post -0.69 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LXRX. CVI Holdings LLC bought a new position in shares of Lexicon Pharmaceuticals in the second quarter worth about $34,000. Principal Financial Group Inc. raised its stake in Lexicon Pharmaceuticals by 116.1% during the 2nd quarter. Principal Financial Group Inc. now owns 22,759 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 12,225 shares during the period. Great Point Partners LLC bought a new stake in Lexicon Pharmaceuticals during the 2nd quarter valued at approximately $50,000. SG Americas Securities LLC raised its stake in Lexicon Pharmaceuticals by 107.6% during the 3rd quarter. SG Americas Securities LLC now owns 46,090 shares of the biopharmaceutical company’s stock valued at $72,000 after purchasing an additional 23,893 shares during the period. Finally, Victory Capital Management Inc. raised its stake in Lexicon Pharmaceuticals by 44.5% during the 2nd quarter. Victory Capital Management Inc. now owns 45,341 shares of the biopharmaceutical company’s stock valued at $76,000 after purchasing an additional 13,972 shares during the period. Institutional investors own 74.70% of the company’s stock.

Lexicon Pharmaceuticals Company Profile

Lexicon Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of pharmaceutical products. Its orally-delivered small molecule drug candidates under development comprise Sotagliflozin that completed Phase III clinical trials for the for the treatment of heart failure and type 1 diabetes; and LX9211, which is in Phase II clinical development for the treatment of neuropathic pain and LX2761, which is in Phase I clinical development for gastrointestinal tract.