Lexicon Pharmaceuticals (NASDAQ:LXRX) Reaches New 52-Week High – Should You Buy?

Shares of Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) hit a new 52-week high during trading on Saturday . The stock traded as high as $2.55 and last traded at $2.55, with a volume of 39453795 shares changing hands. The stock had previously closed at $2.29.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on LXRX shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a report on Thursday, June 18th. Citigroup upped their price target on Lexicon Pharmaceuticals from $2.30 to $3.10 and gave the stock a “buy” rating in a report on Monday, May 11th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $6.00 price target on shares of Lexicon Pharmaceuticals in a research report on Monday, March 23rd. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Lexicon Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $4.55.

Lexicon Pharmaceuticals Stock Up 11.4%

The business’s fifty day moving average price is $2.00 and its 200 day moving average price is $1.63. The company has a quick ratio of 18.77, a current ratio of 18.80 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $1.13 billion, a PE ratio of -36.42 and a beta of 1.07.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.00) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.04. The business had revenue of $21.10 million during the quarter, compared to analysts’ expectations of $9.79 million. Lexicon Pharmaceuticals had a negative return on equity of 18.64% and a negative net margin of 37.46%. On average, equities research analysts forecast that Lexicon Pharmaceuticals, Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. CTC Alternative Strategies Ltd. purchased a new stake in Lexicon Pharmaceuticals during the first quarter valued at about $27,000. Security National Bank of Sioux City Iowa IA purchased a new stake in Lexicon Pharmaceuticals during the 4th quarter worth $31,000. Hudson Bay Capital Management LP purchased a new stake in shares of Lexicon Pharmaceuticals during the second quarter worth about $26,000. Bank of New York Mellon Corp increased its holdings in Lexicon Pharmaceuticals by 43.6% during the 1st quarter. Bank of New York Mellon Corp now owns 27,459 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 8,335 shares during the last quarter. Finally, Leonteq Securities AG bought a new stake in shares of Lexicon Pharmaceuticals in the fourth quarter worth $34,000. 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.