Lexicon Pharmaceuticals (NASDAQ:LXRX) Trading 8.2% Higher – Time to Buy?

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)’s stock price was up 8.2% during trading on Friday . The company traded as high as $1.3891 and last traded at $1.3850. Approximately 2,286,314 shares changed hands during trading, an increase of 54% from the average daily volume of 1,484,874 shares. The stock had previously closed at $1.28.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Wall Street Zen cut Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $3.23.

Lexicon Pharmaceuticals Price Performance

The firm has a market capitalization of $497.86 million, a P/E ratio of -7.21 and a beta of 0.71. The stock’s fifty day simple moving average is $1.30 and its 200 day simple moving average is $1.24. The company has a debt-to-equity ratio of 0.47, a current ratio of 5.64 and a quick ratio of 5.63.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its quarterly earnings data on Thursday, November 6th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. The firm had revenue of $14.18 million during the quarter, compared to analysts’ expectations of $5.81 million. Lexicon Pharmaceuticals had a negative return on equity of 52.90% and a negative net margin of 96.77%. On average, equities research analysts predict that Lexicon Pharmaceuticals, Inc. will post -0.66 EPS for the current year.

Institutional Trading of Lexicon Pharmaceuticals

Large investors have recently made changes to their positions in the business. Savant Capital LLC increased its stake in shares of Lexicon Pharmaceuticals by 33.2% in the second quarter. Savant Capital LLC now owns 69,578 shares of the biopharmaceutical company’s stock worth $66,000 after acquiring an additional 17,348 shares during the period. Bank of America Corp DE boosted its holdings in Lexicon Pharmaceuticals by 80.1% in the third 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. Vermillion & White Wealth Management Group LLC grew its position in Lexicon Pharmaceuticals by 400.0% during the 3rd quarter. Vermillion & White Wealth Management Group LLC now owns 32,500 shares of the biopharmaceutical company’s stock worth $44,000 after purchasing an additional 26,000 shares during the period. Hudson Bay Capital Management LP purchased a new position in shares of Lexicon Pharmaceuticals during the 2nd quarter valued at about $26,000. Finally, Vanguard Personalized Indexing Management LLC raised its stake in shares of Lexicon Pharmaceuticals by 77.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 65,330 shares of the biopharmaceutical company’s stock valued at $62,000 after buying an additional 28,594 shares during the last quarter. 74.70% of the stock is 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.