Lexicon Pharmaceuticals (NASDAQ:LXRX) Downgraded to Hold Rating by Zacks Research

Lexicon Pharmaceuticals (NASDAQ:LXRX) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. Citigroup lifted their price target on shares of 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 raised shares of Lexicon Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 23rd. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $4.55.

Lexicon Pharmaceuticals Stock Performance

NASDAQ LXRX opened at $2.49 on Monday. The firm has a market capitalization of $1.11 billion, a P/E ratio of -35.57 and a beta of 1.08. Lexicon Pharmaceuticals has a 1-year low of $1.02 and a 1-year high of $2.68. 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 business’s 50-day simple moving average is $2.19 and its 200-day simple moving average is $1.84.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.00) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Equities analysts predict that Lexicon Pharmaceuticals will post -0.17 EPS for the current year.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Bank of America Corp DE boosted its holdings in Lexicon Pharmaceuticals by 27.4% in the 4th quarter. Bank of America Corp DE now owns 136,407 shares of the biopharmaceutical company’s stock worth $101,000 after acquiring an additional 29,319 shares during the period. Invesco Ltd. raised its stake in shares of Lexicon Pharmaceuticals by 173.5% during the first quarter. Invesco Ltd. now owns 285,759 shares of the biopharmaceutical company’s stock valued at $132,000 after purchasing an additional 181,265 shares during the period. AQR Capital Management LLC purchased a new stake in shares of Lexicon Pharmaceuticals during the first quarter valued at approximately $541,000. Acadian Asset Management LLC acquired a new position in shares of Lexicon Pharmaceuticals during the first quarter worth $263,000. Finally, XTX Topco Ltd lifted its position in shares of Lexicon Pharmaceuticals by 431.4% during the second quarter. XTX Topco Ltd now owns 66,276 shares of the biopharmaceutical company’s stock worth $63,000 after purchasing an additional 53,805 shares in the last quarter. 74.70% of the stock is currently owned by hedge funds and other institutional investors.

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.