Lexicon Pharmaceuticals (NASDAQ:LXRX) Trading Down 7.5% - What's Next?

Key Points

• Lexicon Pharmaceuticals fell 7.5% to approximately $1.91, with trading volume 37% below its average. The stock remains below its 50-day moving average of $2.26.
• Analyst sentiment is mixed but leans cautious: the consensus rating is Hold, with a $4.55 target price, while recent research actions included downgrades to Hold and Sell.
• The company missed quarterly expectations, reporting a $0.06 loss per share versus a projected $0.05 loss and revenue of $0.69 million versus $3.99 million expected. Institutional investors own 74.7% of the outstanding shares.

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX - Get Free Report) dropped 7.5% during trading on Thursday . The company traded as low as $1.90 and last traded at $1.9050. 1,846,471 shares traded hands during trading, a decline of 37% from the average session volume of 2,953,198 shares. The stock had previously closed at $2.06.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Weiss Ratings raised Lexicon Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, July 23rd. Zacks Research cut Lexicon Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 3rd. Finally, Wall Street Zen downgraded shares of Lexicon Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Two equities 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, Lexicon Pharmaceuticals has a consensus rating of "Hold" and a consensus target price of $4.55.

Lexicon Pharmaceuticals Trading Down 5.1%

The company has a market cap of $869.89 million, a price-to-earnings ratio of -12.97 and a beta of 1.02. 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's fifty day moving average price is $2.26 and its 200-day moving average price is $2.05.

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

Institutional Investors Weigh In On Lexicon Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the business. WINTON GROUP Ltd boosted its position in shares of Lexicon Pharmaceuticals by 69.4% during the second quarter. WINTON GROUP Ltd now owns 43,200 shares of the biopharmaceutical company's stock worth $104,000 after buying an additional 17,700 shares during the period. Squarepoint Ops LLC bought a new stake in Lexicon Pharmaceuticals during the 2nd quarter valued at $28,000. AXQ Capital LP raised its stake in Lexicon Pharmaceuticals by 126.9% during the 2nd quarter. AXQ Capital LP now owns 45,727 shares of the biopharmaceutical company's stock valued at $110,000 after acquiring an additional 25,577 shares in the last quarter. Wellington Management Group LLP acquired a new position in Lexicon Pharmaceuticals during the 2nd quarter worth $431,000. Finally, Bank of New York Mellon Corp acquired a new position in Lexicon Pharmaceuticals during the 2nd quarter worth $1,365,000. Institutional investors own 74.70% of the company's stock.

Lexicon Pharmaceuticals Company Profile

Lexicon Pharmaceuticals, Inc is a biopharmaceutical company that discovers and develops medicines for human disease. Founded in 1995 and headquartered in The Woodlands, Texas, the company uses its drug-discovery platform and expertise in biology to identify potential treatments for conditions with significant unmet medical needs.

Lexicon's marketed products include XERMELO (telotristat ethyl), an oral medicine used to treat carcinoid syndrome diarrhea in adults whose symptoms are not adequately controlled by somatostatin analog therapy.

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