Lexicon Pharmaceuticals (NASDAQ:LXRX) Trading Down 5.9% – Here’s Why

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) dropped 5.9% during mid-day trading on Tuesday . The stock traded as low as $2.48 and last traded at $2.4850. Approximately 1,775,322 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 3,004,663 shares. The stock had previously closed at $2.64.

Analysts Set New Price Targets

Several research analysts have commented on LXRX shares. Citigroup raised their price objective on Lexicon Pharmaceuticals from $2.30 to $3.10 and gave the company a “buy” rating in a research report on Monday, May 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a research note on Thursday, June 18th. Finally, HC Wainwright reissued a “buy” rating and set a $6.00 price target on shares of Lexicon Pharmaceuticals in a research report on Monday, March 23rd. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Lexicon Pharmaceuticals has a consensus rating of “Hold” and an average target price of $4.55.

Lexicon Pharmaceuticals Trading Up 1.7%

The business has a 50 day simple moving average of $2.03 and a two-hundred day simple moving average of $1.65. 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 stock has a market cap of $1.06 billion, a price-to-earnings ratio of -34.55 and a beta of 1.04.

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

Institutional Trading of Lexicon Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the stock. CTC Alternative Strategies Ltd. bought a new position in Lexicon Pharmaceuticals during the 1st quarter valued at $27,000. Security National Bank of Sioux City Iowa IA bought a new stake in shares of Lexicon Pharmaceuticals in the 4th quarter worth about $31,000. Hudson Bay Capital Management LP acquired a new stake in shares of Lexicon Pharmaceuticals in the 2nd quarter valued at about $26,000. Bank of New York Mellon Corp raised its stake in shares of Lexicon Pharmaceuticals by 43.6% in the 1st quarter. Bank of New York Mellon Corp now owns 27,459 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 8,335 shares in the last quarter. Finally, Leonteq Securities AG acquired a new stake in shares of Lexicon Pharmaceuticals in the 4th quarter valued at about $34,000. 74.70% of the stock is owned by institutional investors and hedge funds.

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.