Lexicon Pharmaceuticals (NASDAQ:LXRX) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Lexicon Pharmaceuticals (NASDAQ:LXRX) released its earnings results on Thursday. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.02, Zacks reports. Lexicon Pharmaceuticals had a negative return on equity of 107.38% and a negative net margin of 4,109.41%.

Lexicon Pharmaceuticals Price Performance

LXRX stock traded up $0.03 during mid-day trading on Thursday, hitting $0.37. The company had a trading volume of 12,575,553 shares, compared to its average volume of 3,984,627. The company has a market capitalization of $90.54 million, a price-to-earnings ratio of -0.49 and a beta of 1.04. The company has a 50-day moving average price of $0.74 and a 200 day moving average price of $1.16. The company has a quick ratio of 7.43, a current ratio of 7.45 and a debt-to-equity ratio of 0.56. Lexicon Pharmaceuticals has a 12-month low of $0.28 and a 12-month high of $2.83.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

A hedge fund recently raised its stake in Lexicon Pharmaceuticals stock. Bank of America Corp DE raised its position in shares of Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) by 27.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,407 shares of the biopharmaceutical company’s stock after acquiring an additional 29,319 shares during the period. Bank of America Corp DE owned approximately 0.06% of Lexicon Pharmaceuticals worth $101,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 74.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Lexicon Pharmaceuticals in a report on Monday. HC Wainwright restated a “buy” rating and set a $4.00 target price on shares of Lexicon Pharmaceuticals in a research note on Monday. Leerink Partners reissued a “market perform” rating and set a $1.00 price target (down from $2.00) on shares of Lexicon Pharmaceuticals in a report on Tuesday. Finally, Leerink Partnrs lowered Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $2.50.

About Lexicon Pharmaceuticals

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.