Lexicon Pharmaceuticals (NASDAQ:LXRX) Shares Gap Down – Time to Sell?

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) shares gapped down prior to trading on Thursday . The stock had previously closed at $2.21, but opened at $2.11. Lexicon Pharmaceuticals shares last traded at $2.2180, with a volume of 144,516 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LXRX shares. Citigroup boosted their target price on shares of Lexicon Pharmaceuticals from $2.30 to $3.10 and gave the company a “buy” rating in a research note on Monday, May 11th. HC Wainwright reiterated a “buy” rating and issued a $6.00 target price on shares of Lexicon Pharmaceuticals in a research note on Monday, March 23rd. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Lexicon Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $4.55.

Lexicon Pharmaceuticals Stock Down 3.1%

The stock’s fifty day moving average is $1.80 and its two-hundred day moving average is $1.52. The company has a current ratio of 18.80, a quick ratio of 18.77 and a debt-to-equity ratio of 0.24. The firm has a market cap of $959.47 million, a P/E ratio of -30.85 and a beta of 0.97.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its earnings results on Thursday, May 7th. The biopharmaceutical company reported $0.00 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.04. The business had revenue of $21.10 million for the quarter, compared to analyst estimates of $9.79 million. Lexicon Pharmaceuticals had a negative net margin of 37.46% and a negative return on equity of 18.64%. As a group, research analysts anticipate that Lexicon Pharmaceuticals, Inc. will post -0.17 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Raymond Debbane bought 100,000 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were acquired at an average price of $1.47 per share, with a total value of $147,000.00. Following the acquisition, the director owned 1,904,186 shares of the company’s stock, valued at approximately $2,799,153.42. The trade was a 5.54% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 14.00% of the company’s stock.

Institutional Trading of Lexicon Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of LXRX. ADAR1 Capital Management LLC bought a new position in shares of Lexicon Pharmaceuticals in the 1st quarter worth $1,170,000. Bridgewater Advisors Inc. bought a new position in shares of Lexicon Pharmaceuticals in the 1st quarter worth $128,000. Siren L.L.C. increased its holdings in shares of Lexicon Pharmaceuticals by 13.8% in the 1st quarter. Siren L.L.C. now owns 44,303,518 shares of the biopharmaceutical company’s stock worth $69,113,000 after buying an additional 5,384,615 shares during the last quarter. Bank of Nova Scotia bought a new position in shares of Lexicon Pharmaceuticals in the 1st quarter worth $115,000. Finally, R Squared Ltd increased its holdings in shares of Lexicon Pharmaceuticals by 45.0% in the 1st quarter. R Squared Ltd now owns 67,526 shares of the biopharmaceutical company’s stock worth $105,000 after buying an additional 20,947 shares during the last quarter. Institutional investors own 74.70% of the company’s stock.

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.