Lexicon Pharmaceuticals (NASDAQ:LXRX) Shares Gap Down to $3.16
Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $3.67, but opened at $3.16. Lexicon Pharmaceuticals shares last traded at $3.37, with a volume of 650,789 shares.
Several research analysts recently weighed in on the company. BidaskClub cut Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, November 27th. Gabelli upgraded Lexicon Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.00 price objective on the stock in a research report on Wednesday, September 11th. Zacks Investment Research cut shares of Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, November 16th. ValuEngine raised shares of Lexicon Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, Citigroup cut shares of Lexicon Pharmaceuticals from a “buy” rating to a “neutral” rating and boosted their target price for the company from $3.00 to $4.00 in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $6.45.
The company has a current ratio of 8.11, a quick ratio of 8.01 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $375.14 million, a price-to-earnings ratio of -2.95 and a beta of 1.00. The stock has a 50-day moving average price of $3.62 and a 200 day moving average price of $3.90.
In related news, Director Christopher J. Sobecki acquired 25,000 shares of Lexicon Pharmaceuticals stock in a transaction on Monday, September 16th. The stock was bought at an average cost of $2.55 per share, for a total transaction of $63,750.00. Following the completion of the transaction, the director now owns 112,493 shares of the company’s stock, valued at approximately $286,857.15. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christopher J. Sobecki acquired 99,249 shares of Lexicon Pharmaceuticals stock in a transaction on Friday, September 13th. The shares were bought at an average price of $2.41 per share, with a total value of $239,190.09. Following the completion of the transaction, the director now directly owns 13,645 shares of the company’s stock, valued at approximately $32,884.45. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 178,749 shares of company stock worth $474,560. 6.40% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. acquired a new position in Lexicon Pharmaceuticals in the 3rd quarter valued at $1,590,000. Vanguard Group Inc. raised its position in shares of Lexicon Pharmaceuticals by 8.1% in the second quarter. Vanguard Group Inc. now owns 4,240,111 shares of the biopharmaceutical company’s stock valued at $26,670,000 after buying an additional 319,382 shares during the last quarter. Wedbush Securities Inc. lifted its stake in shares of Lexicon Pharmaceuticals by 105.1% in the third quarter. Wedbush Securities Inc. now owns 398,684 shares of the biopharmaceutical company’s stock worth $1,200,000 after buying an additional 204,345 shares in the last quarter. First Manhattan Co. lifted its stake in shares of Lexicon Pharmaceuticals by 7.3% in the second quarter. First Manhattan Co. now owns 2,949,979 shares of the biopharmaceutical company’s stock worth $18,555,000 after buying an additional 201,393 shares in the last quarter. Finally, Virtus ETF Advisers LLC purchased a new position in shares of Lexicon Pharmaceuticals in the second quarter worth about $901,000. 96.27% of the stock is owned by institutional investors and hedge funds.
Lexicon Pharmaceuticals Company Profile (NASDAQ:LXRX)
Lexicon Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of pharmaceutical products. The company offers XERMELO, an orally-delivered small molecule drug candidate for the treatment of carcinoid syndrome diarrhea in combination with somatostatin analog therapy in adults.
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