Lexicon Pharmaceuticals (NASDAQ:LXRX) Trading 8% Higher - What's Next?

Key Points

• Lexicon Pharmaceuticals' stock increased by 8%, trading at $1.55, with a significant decrease in trading volume compared to its average.
• Analysts are divided on Lexicon Pharmaceuticals, with three ratings as "Buy", three as "Hold", and one as "Sell"; the consensus target price is $3.23.
• The company reported a profit of $0.01 per share in its last earnings report, exceeding expectations, and generated revenue significantly higher than estimates at $28.87 million.

Shares of Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX - Get Free Report) traded up 8% on Thursday . The company traded as high as $1.54 and last traded at $1.55. 959,423 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 7,478,285 shares. The stock had previously closed at $1.43.

Analyst Upgrades and Downgrades

LXRX has been the subject of several research reports. Wall Street Zen upgraded Lexicon Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday, October 4th. Weiss Ratings reissued a "sell (d-)" rating on shares of Lexicon Pharmaceuticals in a report on Wednesday. HC Wainwright restated a "buy" rating and issued a $4.00 price objective on shares of Lexicon Pharmaceuticals in a research report on Tuesday, September 2nd. Finally, Citigroup lifted their price objective on Lexicon Pharmaceuticals from $1.20 to $1.90 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Lexicon Pharmaceuticals currently has a consensus rating of "Hold" and a consensus target price of $3.23.

Lexicon Pharmaceuticals Trading Up 14.7%

The business has a 50 day simple moving average of $1.20 and a 200-day simple moving average of $0.90. The company has a current ratio of 4.16, a quick ratio of 4.16 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $595.98 million, a price-to-earnings ratio of -4.97 and a beta of 1.23.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $28.87 million for the quarter, compared to analyst estimates of $4.87 million. On average, equities analysts predict that Lexicon Pharmaceuticals, Inc. will post -0.66 earnings per share for the current year.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Several hedge funds and other institutional 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Lexicon Pharmaceuticals by 193.6% in 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 valued at $261,000 after purchasing an additional 233,121 shares in the last quarter. California State Teachers Retirement System lifted its stake in shares of Lexicon Pharmaceuticals by 29.9% in the 4th quarter. California State Teachers Retirement System now owns 195,215 shares of the biopharmaceutical company's stock valued at $144,000 after purchasing 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 approximately $32,000. Finally, Straight Path Wealth Management acquired a new position in Lexicon Pharmaceuticals during the 1st quarter worth approximately $29,000. 74.70% of the stock is owned by institutional investors and hedge funds.

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.

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