Lexicon Pharmaceuticals’ (LXRX) Outperform Rating Reiterated at Leerink Partnrs

Lexicon Pharmaceuticals (NASDAQ:LXRX)‘s stock had its “outperform” rating reissued by research analysts at Leerink Partnrs in a note issued to investors on Tuesday, Zacks.com reports. Leerink Partnrs also issued estimates for Lexicon Pharmaceuticals’ Q1 2024 earnings at ($0.13) EPS, Q2 2024 earnings at ($0.13) EPS, Q3 2024 earnings at ($0.13) EPS, Q4 2024 earnings at ($0.16) EPS, FY2024 earnings at ($0.55) EPS, FY2025 earnings at ($0.50) EPS, FY2026 earnings at ($0.24) EPS and FY2027 earnings at $0.07 EPS.

Several other equities analysts have also commented on LXRX. Needham & Company LLC reiterated a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Tuesday, April 23rd. StockNews.com upgraded Lexicon Pharmaceuticals to a “sell” rating in a research note on Wednesday. Finally, SVB Leerink began coverage on Lexicon Pharmaceuticals in a research note on Tuesday. They issued an “outperform” rating and a $5.00 target price for the company.

Lexicon Pharmaceuticals Stock Performance

NASDAQ LXRX opened at $1.65 on Tuesday. Lexicon Pharmaceuticals has a fifty-two week low of $0.92 and a fifty-two week high of $3.79. The stock has a market cap of $406.30 million, a price-to-earnings ratio of -2.06 and a beta of 1.38. The business has a fifty day moving average of $2.13 and a 200-day moving average of $1.74. The company has a quick ratio of 5.58, a current ratio of 5.60 and a debt-to-equity ratio of 1.07.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its quarterly earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.03. Lexicon Pharmaceuticals had a negative return on equity of 138.54% and a negative net margin of 14,573.20%. The company had revenue of $0.70 million during the quarter, compared to analysts’ expectations of $0.68 million. As a group, analysts predict that Lexicon Pharmaceuticals will post -0.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. Cantor Fitzgerald L. P. purchased a new stake in Lexicon Pharmaceuticals during the fourth quarter valued at about $25,000. Principal Securities Inc. purchased a new stake in Lexicon Pharmaceuticals during the fourth quarter valued at about $33,000. TIAA Trust National Association purchased a new stake in Lexicon Pharmaceuticals during the third quarter valued at about $29,000. China Universal Asset Management Co. Ltd. grew its position in Lexicon Pharmaceuticals by 350.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 28,329 shares of the biopharmaceutical company’s stock valued at $43,000 after acquiring an additional 22,043 shares during the period. Finally, RPO LLC purchased a new stake in Lexicon Pharmaceuticals during the fourth quarter valued at about $49,000. Hedge funds and other institutional investors own 74.70% of the company’s stock.

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.