Lexicon Pharmaceuticals (NASDAQ:LXRX) Shares Down 4.4% – Here’s What Happened

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) shares traded down 4.4% on Monday . The company traded as low as $2.29 and last traded at $2.2850. 358,949 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 2,985,133 shares. The stock had previously closed at $2.39.

Analysts Set New Price Targets

Several research firms have issued reports on LXRX. Zacks Research upgraded Lexicon Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Friday, July 3rd. HC Wainwright reissued a “buy” rating and issued a $6.00 target price on shares of Lexicon Pharmaceuticals in a research report on Monday, March 23rd. Weiss Ratings lowered shares of Lexicon Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, July 8th. Finally, Citigroup upped 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. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $4.55.

Lexicon Pharmaceuticals Stock Performance

The stock has a market capitalization of $1.02 billion, a PE ratio of -32.92 and a beta of 1.05. The company has a debt-to-equity ratio of 0.24, a quick ratio of 18.77 and a current ratio of 18.80. The firm has a 50 day moving average of $2.17 and a 200-day moving average of $1.74.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.00) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.04. The company had revenue of $21.10 million for 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%. Research analysts forecast that Lexicon Pharmaceuticals, Inc. will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

A number of institutional investors have recently modified their holdings of LXRX. Bank of New York Mellon Corp boosted its position in Lexicon Pharmaceuticals by 43.6% during the first quarter. Bank of New York Mellon Corp now owns 27,459 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 8,335 shares during the period. R Squared Ltd raised its position in shares of Lexicon Pharmaceuticals by 45.3% in the fourth quarter. R Squared Ltd now owns 46,579 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 14,530 shares during the period. CTC Alternative Strategies Ltd. acquired a new stake in shares of Lexicon Pharmaceuticals in the first quarter worth $27,000. Bank of America Corp DE lifted its stake in shares of Lexicon Pharmaceuticals by 80.1% in the third quarter. Bank of America Corp DE now owns 57,804 shares of the biopharmaceutical company’s stock worth $78,000 after buying an additional 25,707 shares during the last quarter. Finally, Security National Bank of Sioux City Iowa IA bought a new stake in shares of Lexicon Pharmaceuticals during the 4th quarter worth $31,000. Institutional investors and hedge funds own 74.70% of the company’s stock.

Lexicon Pharmaceuticals Company Profile

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.