Lexicon Pharmaceuticals (NASDAQ:LXRX) Reaches New 52-Week High – Here’s Why

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) hit a new 52-week high on Thursday . The company traded as high as $1.77 and last traded at $1.6850, with a volume of 2786539 shares trading hands. The stock had previously closed at $1.56.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Wall Street Zen cut Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $3.23.

Lexicon Pharmaceuticals Stock Performance

The company has a 50-day moving average of $1.30 and a 200-day moving average of $1.26. The firm has a market capitalization of $615.96 million, a price-to-earnings ratio of -8.92 and a beta of 0.71. The company has a current ratio of 5.64, a quick ratio of 5.63 and a debt-to-equity ratio of 0.47.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its earnings results on Thursday, November 6th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.03. Lexicon Pharmaceuticals had a negative net margin of 96.77% and a negative return on equity of 52.90%. The firm had revenue of $14.18 million during the quarter, compared to analyst estimates of $5.81 million. On average, equities research analysts forecast that Lexicon Pharmaceuticals, Inc. will post -0.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of LXRX. Hudson Bay Capital Management LP acquired a new stake in shares of Lexicon Pharmaceuticals during the 2nd quarter worth approximately $26,000. R Squared Ltd bought a new position in Lexicon Pharmaceuticals during the 2nd quarter worth $28,000. Vermillion & White Wealth Management Group LLC increased its position in Lexicon Pharmaceuticals by 400.0% in the third quarter. Vermillion & White Wealth Management Group LLC now owns 32,500 shares of the biopharmaceutical company’s stock worth $44,000 after buying an additional 26,000 shares during the period. Catalyst Funds Management Pty Ltd acquired a new stake in Lexicon Pharmaceuticals in the second quarter worth $51,000. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in Lexicon Pharmaceuticals by 77.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 65,330 shares of the biopharmaceutical company’s stock valued at $62,000 after buying an additional 28,594 shares during the last quarter. 74.70% of the stock is currently owned by institutional investors and hedge funds.

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.