Lexicon Pharmaceuticals (NASDAQ:LXRX) Stock Price Down 7.5% – What’s Next?

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) was down 7.5% on Thursday . The company traded as low as $1.90 and last traded at $1.9050. 1,846,471 shares traded hands during trading, a decline of 37% from the average daily volume of 2,953,198 shares. The stock had previously closed at $2.06.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LXRX. Weiss Ratings upgraded shares of Lexicon Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 23rd. Zacks Research downgraded shares of Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 3rd. Finally, Wall Street Zen lowered shares of Lexicon Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Lexicon Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $4.55.

Lexicon Pharmaceuticals Price Performance

The company has a 50 day moving average of $2.26 and a two-hundred day moving average of $2.05. The firm has a market cap of $869.89 million, a P/E ratio of -12.97 and a beta of 1.02. The company has a quick ratio of 13.29, a current ratio of 13.37 and a debt-to-equity ratio of 0.29.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Lexicon Pharmaceuticals had a negative return on equity of 37.53% and a negative net margin of 147.38%.The business had revenue of $0.69 million during the quarter, compared to the consensus estimate of $3.99 million. Sell-side analysts expect that Lexicon Pharmaceuticals, Inc. will post -0.17 EPS for the current year.

Institutional Trading of Lexicon Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in LXRX. Siren L.L.C. boosted its holdings in Lexicon Pharmaceuticals by 13.8% during the first quarter. Siren L.L.C. now owns 44,303,518 shares of the biopharmaceutical company’s stock worth $69,113,000 after buying an additional 5,384,615 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Lexicon Pharmaceuticals by 508.0% during the 1st quarter. Renaissance Technologies LLC now owns 1,600,500 shares of the biopharmaceutical company’s stock worth $2,497,000 after acquiring an additional 1,337,246 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Lexicon Pharmaceuticals during the 2nd quarter worth $1,365,000. ADAR1 Capital Management LLC acquired a new position in shares of Lexicon Pharmaceuticals in the 1st quarter worth $1,170,000. Finally, Ishara Investments LP acquired a new stake in shares of Lexicon Pharmaceuticals during the fourth quarter worth $1,012,000. 74.70% of the stock is currently owned by institutional investors.

About Lexicon Pharmaceuticals

Lexicon Pharmaceuticals, Inc is a biopharmaceutical company that discovers and develops medicines for human disease. Founded in 1995 and headquartered in The Woodlands, Texas, the company uses its drug-discovery platform and expertise in biology to identify potential treatments for conditions with significant unmet medical needs.

Lexicon’s marketed products include XERMELO (telotristat ethyl), an oral medicine used to treat carcinoid syndrome diarrhea in adults whose symptoms are not adequately controlled by somatostatin analog therapy.