Lexicon Pharmaceuticals (NASDAQ:LXRX) CEO Michael Exton Buys 30,064 Shares of Company Stock

Key Points

• CEO Michael Exton bought 30,064 Lexicon shares at an average price of $1.66, spending about $49,906 and increasing his stake by 10.07% to 328,496 shares.
• Lexicon reported a quarterly loss of $0.03 per share, better than the $0.06 loss analysts expected, and revenue of $11.25 million versus a $4.14 million consensus estimate.
• Analysts’ consensus rating is Hold, with an average price target of $5.70; ratings include three Buys, one Hold, and one Sell.

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX - Get Free Report) CEO Michael Exton bought 30,064 shares of the stock in a transaction that occurred on Friday, November 6th. The shares were acquired at an average cost of $1.66 per share, with a total value of $49,906.24. Following the completion of the purchase, the chief executive officer owned 328,496 shares in the company, valued at $545,303.36. This represents a 10.07% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Lexicon Pharmaceuticals Price Performance

LXRX stock opened at $1.78 on Monday. Lexicon Pharmaceuticals, Inc. has a twelve month low of $1.10 and a twelve month high of $2.68. The company has a quick ratio of 10.56, a current ratio of 10.62 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average price of $1.81 and a two-hundred day moving average price of $1.89. The company has a market cap of $792.02 million, a price-to-earnings ratio of -12.71 and a beta of 1.10.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last issued its earnings results on Thursday, November 5th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, topping analysts' consensus estimates of ($0.06) by $0.03. The business had revenue of $11.25 million for the quarter, compared to the consensus estimate of $4.14 million. Lexicon Pharmaceuticals had a negative net margin of 161.80% and a negative return on equity of 35.76%. Analysts anticipate that Lexicon Pharmaceuticals, Inc. will post -0.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Siren L.L.C. lifted its position in shares of Lexicon Pharmaceuticals by 13.8% during the 1st quarter. Siren L.L.C. now owns 44,303,518 shares of the biopharmaceutical company's stock valued at $69,113,000 after acquiring an additional 5,384,615 shares during the period. Renaissance Technologies LLC increased its holdings in 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 purchasing an additional 1,337,246 shares in the last quarter. ADAR1 Capital Management LLC bought a new stake in Lexicon Pharmaceuticals during the first quarter worth $1,170,000. Bank of New York Mellon Corp purchased a new stake in shares of Lexicon Pharmaceuticals in the second quarter valued at about $1,365,000. Finally, Bank of America Corp DE boosted its holdings in Lexicon Pharmaceuticals by 415.3% during the first quarter. Bank of America Corp DE now owns 526,103 shares of the biopharmaceutical company's stock worth $821,000 after purchasing an additional 424,006 shares during the last quarter. 74.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Cantor Fitzgerald started coverage on shares of Lexicon Pharmaceuticals in a report on Monday, September 28th. They issued an "overweight" rating and a $8.00 price target on the stock. Zacks Research downgraded Lexicon Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 3rd. Wall Street Zen upgraded Lexicon Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research note on Sunday. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Lexicon Pharmaceuticals in a report on Wednesday, October 21st. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Lexicon Pharmaceuticals has a consensus rating of "Hold" and an average price target of $5.70.

About Lexicon Pharmaceuticals

Lexicon Pharmaceuticals, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for serious and chronic diseases. The company uses its drug discovery platform to identify small-molecule treatments designed to target specific biological pathways, with an emphasis on metabolic, cardiovascular and neurological conditions.

Lexicon's commercial products include INPEFA (sotagliflozin), an oral medicine approved in the United States to reduce the risk of cardiovascular death, hospitalization for heart failure and urgent heart-failure visits in certain adults with heart failure or type 2 diabetes and chronic kidney disease.

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