Lexicon Pharmaceuticals (NASDAQ:LXRX) Stock Rating Lowered by Zacks Research

Lexicon Pharmaceuticals (NASDAQ:LXRX) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other brokerages have also recently issued reports on LXRX. Weiss Ratings upgraded Lexicon Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 23rd. Citigroup raised their target price on shares of Lexicon Pharmaceuticals from $2.30 to $3.10 and gave the company a “buy” rating in a report on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $4.55.

Lexicon Pharmaceuticals Stock Performance

NASDAQ:LXRX opened at $2.49 on Monday. Lexicon Pharmaceuticals has a 52 week low of $1.02 and a 52 week high of $2.68. The company has a fifty day simple moving average of $2.19 and a two-hundred day simple moving average of $1.84. The company has a quick ratio of 18.77, a current ratio of 18.80 and a debt-to-equity ratio of 0.24. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -35.57 and a beta of 1.08.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.00) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.04. Lexicon Pharmaceuticals had a negative return on equity of 18.64% and a negative net margin of 37.46%.The firm had revenue of $21.10 million during the quarter, compared to analyst estimates of $9.79 million. As a group, equities analysts anticipate that Lexicon Pharmaceuticals will post -0.17 earnings per share for the current fiscal year.

Institutional Trading of Lexicon Pharmaceuticals

A number of institutional investors have recently bought and sold shares of LXRX. Bank of America Corp DE boosted its position in shares of Lexicon Pharmaceuticals by 27.4% during the 4th quarter. Bank of America Corp DE now owns 136,407 shares of the biopharmaceutical company’s stock worth $101,000 after acquiring an additional 29,319 shares in the last quarter. Invesco Ltd. raised its position in shares of Lexicon Pharmaceuticals by 173.5% during the 1st quarter. Invesco Ltd. now owns 285,759 shares of the biopharmaceutical company’s stock worth $132,000 after acquiring an additional 181,265 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of Lexicon Pharmaceuticals during the 1st quarter worth about $541,000. Acadian Asset Management LLC purchased a new stake in Lexicon Pharmaceuticals during the first quarter worth approximately $263,000. Finally, XTX Topco Ltd lifted its stake in Lexicon Pharmaceuticals by 431.4% during the second quarter. XTX Topco Ltd now owns 66,276 shares of the biopharmaceutical company’s stock worth $63,000 after purchasing an additional 53,805 shares during the last quarter. 74.70% of the stock is owned by hedge funds and other institutional investors.

About Lexicon Pharmaceuticals

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.