Lexicon Pharmaceuticals (NASDAQ:LXRX) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded Lexicon Pharmaceuticals from “strong buy” to “hold.” Overall analyst sentiment is “hold,” with a consensus price target of $4.55.
• Shares rose 6.9% to open at $2.49, near the stock’s 52-week high of $2.68. Lexicon reported quarterly revenue of $21.1 million and EPS of approximately break-even, exceeding analyst expectations.
• Institutional investors have generally increased their positions, and hedge funds and other institutions own 74.7% of the company’s shares.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

Other equities analysts have also recently issued reports about the company. Weiss Ratings raised Lexicon Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, July 23rd. Citigroup boosted their price objective 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. Two research 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's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $4.55.

Lexicon Pharmaceuticals Trading Up 6.9%

NASDAQ:LXRX opened at $2.49 on Monday. The stock has a fifty day moving average price of $2.19 and a two-hundred day moving average price of $1.84. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -35.57 and a beta of 1.08. The company has a debt-to-equity ratio of 0.24, a quick ratio of 18.77 and a current ratio of 18.80. Lexicon Pharmaceuticals has a 1 year low of $1.02 and a 1 year high of $2.68.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.00) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.04. The company had revenue of $21.10 million for the quarter, compared to analyst estimates of $9.79 million. Lexicon Pharmaceuticals had a negative net margin of 37.46% and a negative return on equity of 18.64%. As a group, sell-side analysts anticipate that Lexicon Pharmaceuticals will post -0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of LXRX. Bank of New York Mellon Corp increased 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 last quarter. R Squared Ltd raised its stake in Lexicon Pharmaceuticals by 45.3% during the fourth quarter. R Squared Ltd now owns 46,579 shares of the biopharmaceutical company's stock worth $54,000 after purchasing an additional 14,530 shares during the period. CTC Alternative Strategies Ltd. acquired a new position in shares of Lexicon Pharmaceuticals in the 1st quarter valued at $27,000. Bank of America Corp DE boosted its holdings in shares of Lexicon Pharmaceuticals by 80.1% in the 3rd quarter. Bank of America Corp DE now owns 57,804 shares of the biopharmaceutical company's stock valued at $78,000 after purchasing an additional 25,707 shares during the last quarter. Finally, Security National Bank of Sioux City Iowa IA purchased a new stake in shares of Lexicon Pharmaceuticals during the 4th quarter valued at $31,000. 74.70% of the stock is currently owned by hedge funds and other institutional investors.

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.

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