Lexicon Pharmaceuticals (NASDAQ:LXRX) Shares Gap Down to $3.56

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $3.64, but opened at $3.56. Lexicon Pharmaceuticals shares last traded at $3.36, with a volume of 2,165,332 shares trading hands.

LXRX has been the subject of several research analyst reports. Citigroup decreased their price target on shares of Lexicon Pharmaceuticals from $15.00 to $3.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Stifel Nicolaus downgraded shares of Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating and decreased their price target for the company from $10.00 to $4.00 in a research note on Monday, July 29th. ValuEngine downgraded shares of Lexicon Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Zacks Investment Research downgraded shares of Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, July 3rd. Finally, Wedbush reaffirmed an “outperform” rating and set a $17.00 price target (down previously from $35.00) on shares of Lexicon Pharmaceuticals in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $6.70.

The company’s 50 day moving average price is $1.83 and its two-hundred day moving average price is $4.83. The stock has a market cap of $378.33 million, a P/E ratio of -3.06 and a beta of 0.75.



Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its quarterly earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.13). The firm had revenue of $9.68 million for the quarter, compared to analysts’ expectations of $28.52 million. During the same period in the previous year, the company earned ($0.33) earnings per share. The business’s quarterly revenue was down 29.9% on a year-over-year basis. On average, equities research analysts forecast that Lexicon Pharmaceuticals, Inc. will post 0.69 earnings per share for the current year.

In other Lexicon Pharmaceuticals news, Director Christopher J. Sobecki acquired 25,000 shares of Lexicon Pharmaceuticals stock in a transaction that occurred on Monday, September 16th. The stock was bought at an average price of $2.55 per share, with a total value of $63,750.00. Following the completion of the purchase, the director now directly owns 112,493 shares of the company’s stock, valued at approximately $286,857.15. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sam L. Barker acquired 24,000 shares of Lexicon Pharmaceuticals stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average cost of $1.18 per share, with a total value of $28,320.00. Following the purchase, the director now directly owns 40,187 shares of the company’s stock, valued at $47,420.66. The disclosure for this purchase can be found here. Insiders have bought 289,749 shares of company stock valued at $618,230 in the last ninety days. Insiders own 6.40% of the company’s stock.

Large investors have recently modified their holdings of the stock. GSA Capital Partners LLP raised its stake in Lexicon Pharmaceuticals by 217.5% in the second quarter. GSA Capital Partners LLP now owns 87,132 shares of the biopharmaceutical company’s stock worth $548,000 after buying an additional 59,685 shares in the last quarter. Clearbridge Investments LLC raised its stake in Lexicon Pharmaceuticals by 3.4% in the first quarter. Clearbridge Investments LLC now owns 1,292,130 shares of the biopharmaceutical company’s stock worth $7,184,000 after buying an additional 42,540 shares in the last quarter. Wedbush Securities Inc. raised its stake in Lexicon Pharmaceuticals by 33.0% in the second quarter. Wedbush Securities Inc. now owns 194,339 shares of the biopharmaceutical company’s stock worth $1,222,000 after buying an additional 48,182 shares in the last quarter. Pinnacle Associates Ltd. raised its stake in Lexicon Pharmaceuticals by 1.8% in the first quarter. Pinnacle Associates Ltd. now owns 550,549 shares of the biopharmaceutical company’s stock worth $3,061,000 after buying an additional 9,615 shares in the last quarter. Finally, Pictet Asset Management Ltd. raised its stake in Lexicon Pharmaceuticals by 13.4% in the second quarter. Pictet Asset Management Ltd. now owns 665,776 shares of the biopharmaceutical company’s stock worth $4,188,000 after buying an additional 78,926 shares in the last quarter. 98.87% of the stock is owned by institutional investors.

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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