Lexicon Pharmaceuticals (NASDAQ:LXRX) Stock Price Down 10.5%

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)’s share price dropped 10.5% during trading on Monday . The company traded as low as $2.51 and last traded at $3.16, approximately 3,108,631 shares changed hands during mid-day trading. An increase of 140% from the average daily volume of 1,293,999 shares. The stock had previously closed at $3.53.

LXRX has been the topic of a number of recent analyst reports. ValuEngine raised Lexicon Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Gabelli raised Lexicon Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.00 price objective on the stock in a research note on Wednesday, September 11th. G.Research raised Lexicon Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. BidaskClub lowered Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, November 27th. Finally, Citigroup lowered Lexicon Pharmaceuticals from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $3.00 to $4.00 in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $6.45.

The stock has a 50 day moving average of $3.63 and a 200 day moving average of $3.88. The company has a quick ratio of 8.01, a current ratio of 8.11 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $400.65 million, a price-to-earnings ratio of -3.31 and a beta of 1.00.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported $2.11 EPS for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.80. The company had revenue of $294.45 million for the quarter, compared to analyst estimates of $12.00 million. Lexicon Pharmaceuticals had a return on equity of 2,372.40% and a net margin of 49.78%. The firm’s quarterly revenue was up 4124.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.26) earnings per share. As a group, sell-side analysts anticipate that Lexicon Pharmaceuticals, Inc. will post 0.93 EPS for the current fiscal year.

In other Lexicon Pharmaceuticals news, Director Christopher J. Sobecki bought 99,249 shares of the stock in a transaction on Friday, September 13th. The stock was acquired at an average cost of $2.41 per share, for a total transaction of $239,190.09. Following the completion of the acquisition, the director now owns 13,645 shares in the company, valued at approximately $32,884.45. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher J. Sobecki bought 25,000 shares of the stock in a transaction on Monday, September 16th. The stock was acquired at an average price of $2.55 per share, with a total value of $63,750.00. Following the completion of the acquisition, the director now owns 112,493 shares of the company’s stock, valued at approximately $286,857.15. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 178,749 shares of company stock valued at $474,560. 6.40% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Lexicon Pharmaceuticals by 8.1% in the second quarter. Vanguard Group Inc. now owns 4,240,111 shares of the biopharmaceutical company’s stock worth $26,670,000 after purchasing an additional 319,382 shares in the last quarter. First Manhattan Co. increased its holdings in Lexicon Pharmaceuticals by 7.3% in the second quarter. First Manhattan Co. now owns 2,949,979 shares of the biopharmaceutical company’s stock worth $18,555,000 after purchasing an additional 201,393 shares in the last quarter. Millennium Management LLC increased its holdings in Lexicon Pharmaceuticals by 4.5% in the third quarter. Millennium Management LLC now owns 1,220,629 shares of the biopharmaceutical company’s stock worth $3,674,000 after purchasing an additional 53,092 shares in the last quarter. State Street Corp increased its holdings in Lexicon Pharmaceuticals by 1.5% in the third quarter. State Street Corp now owns 952,606 shares of the biopharmaceutical company’s stock worth $2,867,000 after purchasing an additional 13,654 shares in the last quarter. Finally, Pictet Asset Management Ltd. increased its holdings in Lexicon Pharmaceuticals by 9.6% in the third quarter. Pictet Asset Management Ltd. now owns 729,876 shares of the biopharmaceutical company’s stock worth $2,197,000 after purchasing an additional 64,100 shares in the last quarter. Institutional investors and hedge funds own 96.27% of the company’s stock.

Lexicon Pharmaceuticals Company Profile (NASDAQ:LXRX)

Lexicon Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of pharmaceutical products. The company offers XERMELO, an orally-delivered small molecule drug candidate for the treatment of carcinoid syndrome diarrhea in combination with somatostatin analog therapy in adults.

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