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

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

Wall Street Analysts Forecast Growth

LXRX has been the subject of a number of research analyst reports. 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a research report on Thursday, June 18th. Finally, HC Wainwright reiterated a “buy” rating and set a $6.00 target price on shares of Lexicon Pharmaceuticals in a research note 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. According to data from MarketBeat, Lexicon Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $4.55.

Lexicon Pharmaceuticals Stock Down 7.0%

The firm has a 50 day moving average of $2.01 and a 200-day moving average of $1.64. The company has a debt-to-equity ratio of 0.24, a current ratio of 18.80 and a quick ratio of 18.77. The stock has a market capitalization of $1.09 billion, a P/E ratio of -35.35 and a beta of 1.06.

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

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the business. Hudson Bay Capital Management LP acquired a new position in shares of Lexicon Pharmaceuticals in the 2nd quarter valued at $26,000. CTC Alternative Strategies Ltd. bought a new stake in Lexicon Pharmaceuticals in the first quarter valued at about $27,000. Security National Bank of Sioux City Iowa IA acquired a new position in Lexicon Pharmaceuticals in the fourth quarter worth about $31,000. Leonteq Securities AG bought a new position in Lexicon Pharmaceuticals during the fourth quarter worth about $34,000. Finally, EntryPoint Capital LLC acquired a new stake in Lexicon Pharmaceuticals during the fourth quarter valued at approximately $39,000. 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.