Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX – Get Free Report)’s share price shot up 9.7% on Tuesday . The stock traded as high as $2.04 and last traded at $2.04. 3,281,414 shares were traded during mid-day trading, a decline of 3% from the average session volume of 3,369,921 shares. The stock had previously closed at $1.86.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on LXRX. StockNews.com raised shares of Lexicon Pharmaceuticals to a “sell” rating in a research note on Tuesday, July 9th. Leerink Partners set a $6.00 price target on shares of Lexicon Pharmaceuticals and gave the company an “outperform” rating in a research note on Friday, October 18th. Finally, HC Wainwright reissued a “buy” rating and issued a $10.00 price target on shares of Lexicon Pharmaceuticals in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Lexicon Pharmaceuticals has an average rating of “Hold” and an average target price of $8.00.
Check Out Our Latest Research Report on Lexicon Pharmaceuticals
Lexicon Pharmaceuticals Price Performance
Lexicon Pharmaceuticals (NASDAQ:LXRX – Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.01. Lexicon Pharmaceuticals had a negative net margin of 5,509.34% and a negative return on equity of 105.38%. The company had revenue of $1.65 million during the quarter, compared to analysts’ expectations of $2.74 million. During the same quarter last year, the company posted ($0.22) EPS. On average, sell-side analysts predict that Lexicon Pharmaceuticals, Inc. will post -0.69 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Lexicon Pharmaceuticals
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LXRX. BNP Paribas Financial Markets raised its holdings in shares of Lexicon Pharmaceuticals by 82.6% in the 1st quarter. BNP Paribas Financial Markets now owns 59,378 shares of the biopharmaceutical company’s stock valued at $143,000 after purchasing an additional 26,859 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Lexicon Pharmaceuticals by 7.0% in the 1st quarter. Vanguard Group Inc. now owns 6,401,225 shares of the biopharmaceutical company’s stock valued at $15,363,000 after purchasing an additional 420,854 shares in the last quarter. Boulder Hill Capital Management LP acquired a new stake in shares of Lexicon Pharmaceuticals in the 1st quarter valued at $615,000. Virtu Financial LLC acquired a new stake in shares of Lexicon Pharmaceuticals in the 1st quarter valued at $105,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Lexicon Pharmaceuticals in the 2nd quarter valued at $912,000. Hedge funds and other institutional investors own 74.70% of the company’s stock.
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.
See Also
- Five stocks we like better than Lexicon Pharmaceuticals
- Are Penny Stocks a Good Fit for Your Portfolio?
- Is McDonald’s Stock a Smart Buy After Sell-Off and Earnings?
- Best Aerospace Stocks Investing
- QuantumScape: Solid State EV Batteries Nearing Commercialization
- 3 Warren Buffett Stocks to Buy Now
- MicroStrategy: Is This Bitcoin-Powered Stock a Buy or a Gamble?
Receive News & Ratings for Lexicon Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lexicon Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.