Lexicon Pharmaceuticals (NASDAQ:LXRX) Stock Price Up 4.1%

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) rose 4.1% during trading on Wednesday . The stock traded as high as $2.33 and last traded at $2.31. Approximately 1,299,089 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 3,642,725 shares. The stock had previously closed at $2.22.

Wall Street Analysts Forecast Growth

LXRX has been the subject of several analyst reports. SVB Leerink initiated coverage on Lexicon Pharmaceuticals in a research note on Tuesday, April 30th. They issued an “outperform” rating and a $5.00 target price for the company. Needham & Company LLC restated a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Friday, May 3rd. Leerink Partnrs reiterated an “outperform” rating on shares of Lexicon Pharmaceuticals in a research report on Tuesday, April 30th. StockNews.com upgraded Lexicon Pharmaceuticals to a “sell” rating in a research report on Tuesday, July 9th. Finally, HC Wainwright reiterated a “buy” rating and set a $10.00 price target on shares of Lexicon Pharmaceuticals in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $6.67.

Lexicon Pharmaceuticals Trading Down 2.3 %

The stock has a market cap of $534.34 million, a P/E ratio of -2.57 and a beta of 1.35. The company has a debt-to-equity ratio of 0.35, a quick ratio of 15.56 and a current ratio of 15.58. The stock has a 50-day moving average price of $1.80 and a 200-day moving average price of $1.97.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.02). The firm had revenue of $1.13 million during the quarter, compared to the consensus estimate of $1.17 million. Lexicon Pharmaceuticals had a negative return on equity of 108.54% and a negative net margin of 8,311.12%. On average, equities research analysts expect that Lexicon Pharmaceuticals, Inc. will post -0.7 EPS for the current year.

Institutional Trading of Lexicon Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the company. BVF Inc. IL lifted its position in Lexicon Pharmaceuticals by 22.2% in the 4th quarter. BVF Inc. IL now owns 24,435,632 shares of the biopharmaceutical company’s stock worth $37,387,000 after buying an additional 4,440,300 shares during the last quarter. Vanguard Group Inc. lifted its position in Lexicon Pharmaceuticals by 7.0% in the 1st quarter. Vanguard Group Inc. now owns 6,401,225 shares of the biopharmaceutical company’s stock worth $15,363,000 after buying an additional 420,854 shares during the last quarter. Pinnacle Associates Ltd. lifted its position in Lexicon Pharmaceuticals by 1.0% in the 1st quarter. Pinnacle Associates Ltd. now owns 1,747,830 shares of the biopharmaceutical company’s stock worth $4,195,000 after buying an additional 17,009 shares during the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in Lexicon Pharmaceuticals in the 2nd quarter worth approximately $912,000. Finally, Boulder Hill Capital Management LP bought a new stake in Lexicon Pharmaceuticals in the 1st quarter worth approximately $615,000. Institutional investors own 74.70% of the company’s stock.

Lexicon Pharmaceuticals Company Profile

Lexicon Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of pharmaceutical products. Its orally-delivered small molecule drug candidates under development comprise Sotagliflozin that completed Phase III clinical trials for the for the treatment of heart failure and type 1 diabetes; and LX9211, which is in Phase II clinical development for the treatment of neuropathic pain and LX2761, which is in Phase I clinical development for gastrointestinal tract.