Lexicon Pharmaceuticals (NASDAQ:LXRX) Stock Falls 5.2% - What's Next?

Key Points

• Lexicon Pharmaceuticals shares fell 5.2% to $1.7250 in mid-day trading, with volume about 53% below the average session level.
• Analyst sentiment is mixed: Cantor Fitzgerald initiated coverage with an “overweight” rating and an $8 price target, while other firms issued downgrades. The stock has an overall “Hold” rating and an average price target of $5.70.
• The company recently missed quarterly expectations, reporting a $0.06 per-share loss versus the $0.05 consensus loss and revenue of $0.69 million against $3.99 million expected. Lexicon remains unprofitable, with a negative net margin of 147.38%.

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX - Get Free Report) dropped 5.2% during mid-day trading on Monday. The company traded as low as $1.72 and last traded at $1.7250. Approximately 1,402,888 shares changed hands during trading, a decline of 53% from the average session volume of 2,991,611 shares. The stock had previously closed at $1.82.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Cantor Fitzgerald began coverage on shares of Lexicon Pharmaceuticals in a research report on Monday, September 28th. They set an "overweight" rating and a $8.00 price objective on the stock. Weiss Ratings raised shares of Lexicon Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, July 23rd. Wall Street Zen lowered shares of Lexicon Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Finally, Zacks Research lowered Lexicon Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Monday, August 3rd. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $5.70.

Lexicon Pharmaceuticals Stock Down 5.2%

The company has a debt-to-equity ratio of 0.29, a current ratio of 13.37 and a quick ratio of 13.29. The firm has a market capitalization of $767.56 million, a P/E ratio of -11.50 and a beta of 1.07. The company's 50-day simple moving average is $2.20 and its two-hundred day simple moving average is $2.06.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.01). Lexicon Pharmaceuticals had a negative net margin of 147.38% and a negative return on equity of 37.53%. The business had revenue of $0.69 million for the quarter, compared to the consensus estimate of $3.99 million. As a group, research analysts expect that Lexicon Pharmaceuticals, Inc. will post -0.17 earnings per share for the current year.

Institutional Trading of Lexicon Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of LXRX. Siren L.L.C. increased its holdings in Lexicon Pharmaceuticals by 13.8% in the 1st quarter. Siren L.L.C. now owns 44,303,518 shares of the biopharmaceutical company's stock worth $69,113,000 after acquiring an additional 5,384,615 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Lexicon Pharmaceuticals by 508.0% during the first quarter. Renaissance Technologies LLC now owns 1,600,500 shares of the biopharmaceutical company's stock valued at $2,497,000 after purchasing an additional 1,337,246 shares in the last quarter. Ishara Investments LP bought a new position in shares of Lexicon Pharmaceuticals in the fourth quarter worth approximately $1,012,000. ADAR1 Capital Management LLC purchased a new stake in shares of Lexicon Pharmaceuticals in the first quarter worth $1,170,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Lexicon Pharmaceuticals in the second quarter worth $1,365,000. Hedge funds and other institutional investors own 74.70% of the company's stock.

Lexicon Pharmaceuticals Company Profile

Lexicon Pharmaceuticals, Inc is a biopharmaceutical company focused on discovering and developing medicines for diseases with significant unmet medical needs. The company uses its expertise in human genetics and gene biology to identify novel drug targets and develop small-molecule therapies.

Lexicon's marketed products include XERMELO (telotristat ethyl), an oral treatment for carcinoid syndrome diarrhea in adults whose symptoms are inadequately controlled by short-acting somatostatin analog therapy.

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