Lexicon Pharmaceuticals (NASDAQ:LXRX) Given Outperform Rating at Leerink Partnrs

Lexicon Pharmaceuticals (NASDAQ:LXRX)‘s stock had its “outperform” rating reaffirmed by investment analysts at Leerink Partnrs in a report issued on Tuesday, Zacks.com reports. Leerink Partnrs also issued estimates for Lexicon Pharmaceuticals’ Q1 2024 earnings at ($0.13) EPS, Q2 2024 earnings at ($0.13) EPS, Q3 2024 earnings at ($0.13) EPS, Q4 2024 earnings at ($0.16) EPS, FY2024 earnings at ($0.55) EPS, FY2025 earnings at ($0.50) EPS, FY2026 earnings at ($0.24) EPS and FY2027 earnings at $0.07 EPS.

A number of other research firms also recently issued reports on LXRX. Needham & Company LLC reaffirmed a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Tuesday, April 23rd. StockNews.com raised shares of Lexicon Pharmaceuticals to a “sell” rating in a research report on Wednesday. Finally, SVB Leerink began coverage on shares of Lexicon Pharmaceuticals in a research report on Tuesday. They issued an “outperform” rating and a $5.00 price objective for the company.

Lexicon Pharmaceuticals Trading Up 7.1 %

NASDAQ:LXRX opened at $1.65 on Tuesday. The company has a market cap of $406.30 million, a P/E ratio of -2.06 and a beta of 1.38. Lexicon Pharmaceuticals has a twelve month low of $0.92 and a twelve month high of $3.79. The business has a 50 day moving average price of $2.13 and a two-hundred day moving average price of $1.74. The company has a quick ratio of 5.58, a current ratio of 5.60 and a debt-to-equity ratio of 1.07.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last announced its earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.03. Lexicon Pharmaceuticals had a negative net margin of 14,573.20% and a negative return on equity of 138.54%. The business had revenue of $0.70 million during the quarter, compared to analysts’ expectations of $0.68 million. As a group, analysts expect that Lexicon Pharmaceuticals will post -0.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LXRX. SG Americas Securities LLC acquired a new position in shares of Lexicon Pharmaceuticals in the third quarter valued at approximately $64,000. Commonwealth Equity Services LLC grew its holdings in Lexicon Pharmaceuticals by 160.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 39,569 shares of the biopharmaceutical company’s stock valued at $43,000 after buying an additional 24,400 shares in the last quarter. TIAA Trust National Association bought a new position in Lexicon Pharmaceuticals during the 3rd quarter worth $29,000. Swiss National Bank increased its position in Lexicon Pharmaceuticals by 4.4% during the 3rd quarter. Swiss National Bank now owns 242,300 shares of the biopharmaceutical company’s stock worth $264,000 after buying an additional 10,300 shares during the period. Finally, KWB Wealth bought a new stake in shares of Lexicon Pharmaceuticals in the fourth quarter valued at about $62,000. 74.70% of the stock is owned by institutional investors.

About Lexicon Pharmaceuticals

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.