Lexicon Pharmaceuticals (NASDAQ:LXRX) Stock Price Down 6.3% - Time to Sell?

Key Points

• Lexicon Pharmaceuticals' stock price fell by 6.3% to $1.43, with a trading volume significantly lower than its average.
• Analysts have mixed views on the stock, with Citigroup upgrading its price target to $1.90, while Weiss Ratings maintains a "sell" rating.
• The company reported a positive EPS of $0.01 for the last quarter, surpassing expectations, with revenues far exceeding analyst estimates.

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX - Get Free Report) shares traded down 6.3% during trading on Wednesday . The stock traded as low as $1.45 and last traded at $1.43. 693,577 shares traded hands during trading, a decline of 91% from the average session volume of 7,499,779 shares. The stock had previously closed at $1.52.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Citigroup boosted their price target on Lexicon Pharmaceuticals from $1.20 to $1.90 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Lexicon Pharmaceuticals in a research report on Wednesday. HC Wainwright reiterated a "buy" rating and set a $4.00 price target on shares of Lexicon Pharmaceuticals in a research report on Tuesday, September 2nd. Finally, Wall Street Zen upgraded Lexicon Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $3.23.

Lexicon Pharmaceuticals Trading Down 3.6%

The company has a 50 day moving average price of $1.18 and a 200 day moving average price of $0.88. The firm has a market cap of $532.38 million, a price-to-earnings ratio of -4.44 and a beta of 1.23. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.16 and a current ratio of 4.16.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.09. Lexicon Pharmaceuticals had a negative return on equity of 83.63% and a negative net margin of 206.43%.The business had revenue of $28.87 million for the quarter, compared to analyst estimates of $4.87 million. On average, research analysts expect that Lexicon Pharmaceuticals, Inc. will post -0.66 earnings per share for the current year.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Several large investors have recently modified their holdings of LXRX. Bank of America Corp DE lifted its stake in shares of Lexicon Pharmaceuticals by 27.4% in the 4th quarter. Bank of America Corp DE now owns 136,407 shares of the biopharmaceutical company's stock valued at $101,000 after purchasing an additional 29,319 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Lexicon Pharmaceuticals by 193.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 353,508 shares of the biopharmaceutical company's stock worth $261,000 after acquiring an additional 233,121 shares in the last quarter. California State Teachers Retirement System lifted its stake in Lexicon Pharmaceuticals by 29.9% during the 4th quarter. California State Teachers Retirement System now owns 195,215 shares of the biopharmaceutical company's stock worth $144,000 after acquiring an additional 44,915 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in Lexicon Pharmaceuticals during the 1st quarter worth about $32,000. Finally, Straight Path Wealth Management acquired a new position in Lexicon Pharmaceuticals during the 1st quarter worth about $29,000. Institutional investors and hedge funds own 74.70% of the company's stock.

About Lexicon Pharmaceuticals

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.

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