Lexicon Pharmaceuticals (NASDAQ:LXRX) Sees Strong Trading Volume – What’s Next?

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) saw an uptick in trading volume on Wednesday . 4,125,033 shares traded hands during trading, an increase of 144% from the previous session’s volume of 1,688,296 shares.The stock last traded at $1.5850 and had previously closed at $1.31.

Analyst Upgrades and Downgrades

LXRX has been the topic of a number of research analyst reports. Wall Street Zen lowered Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $3.23.

Lexicon Pharmaceuticals Trading Down 3.4%

The firm’s 50-day simple moving average is $1.31 and its 200-day simple moving average is $1.27. The firm has a market capitalization of $617.78 million, a PE ratio of -8.95 and a beta of 0.71. The company has a quick ratio of 5.63, a current ratio of 5.64 and a debt-to-equity ratio of 0.47.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its quarterly earnings data on Thursday, November 6th. The biopharmaceutical company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.03. Lexicon Pharmaceuticals had a negative return on equity of 52.90% and a negative net margin of 96.77%.The firm had revenue of $14.18 million for the quarter, compared to the consensus estimate of $5.81 million. Equities analysts expect that Lexicon Pharmaceuticals, Inc. will post -0.66 earnings per share for the current year.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. CIBC Bancorp USA Inc. purchased a new position in shares of Lexicon Pharmaceuticals during the third quarter valued at approximately $3,240,000. Millennium Management LLC boosted its holdings in Lexicon Pharmaceuticals by 133.1% in the third quarter. Millennium Management LLC now owns 3,830,660 shares of the biopharmaceutical company’s stock valued at $5,171,000 after acquiring an additional 2,187,396 shares in the last quarter. AQR Capital Management LLC purchased a new position in Lexicon Pharmaceuticals during the 1st quarter valued at $541,000. Jacobs Levy Equity Management Inc. bought a new position in Lexicon Pharmaceuticals in the 3rd quarter worth $935,000. Finally, Vanguard Group Inc. raised its holdings in Lexicon Pharmaceuticals by 7.6% in the 3rd quarter. Vanguard Group Inc. now owns 9,521,874 shares of the biopharmaceutical company’s stock worth $12,855,000 after purchasing an additional 670,838 shares in the last quarter. Hedge funds and other institutional investors own 74.70% of the company’s stock.

About Lexicon Pharmaceuticals

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.