Leerink Partnrs Reiterates Outperform Rating for Lexicon Pharmaceuticals (NASDAQ:LXRX)

Lexicon Pharmaceuticals (NASDAQ:LXRX)‘s stock had its “outperform” rating reissued by equities research analysts at Leerink Partnrs in a report released 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.

Other research analysts also recently issued reports about the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Tuesday, April 23rd. SVB Leerink initiated coverage on Lexicon Pharmaceuticals in a research note on Tuesday. They set an “outperform” rating and a $5.00 target price for the company. Finally, StockNews.com raised Lexicon Pharmaceuticals to a “sell” rating in a research note on Wednesday.

Lexicon Pharmaceuticals Trading Up 7.1 %

Shares of LXRX stock opened at $1.65 on Tuesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 5.60 and a quick ratio of 5.58. The company has a market cap of $406.30 million, a price-to-earnings ratio of -2.06 and a beta of 1.38. The stock has a 50 day simple moving average of $2.13 and a 200-day simple moving average of $1.74. Lexicon Pharmaceuticals has a 1-year low of $0.92 and a 1-year high of $3.79.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its stake in Lexicon Pharmaceuticals by 22.0% in the 4th quarter. Victory Capital Management Inc. now owns 32,187 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 5,813 shares during the last quarter. Swiss National Bank grew its holdings in Lexicon Pharmaceuticals by 4.4% in the 3rd quarter. Swiss National Bank now owns 242,300 shares of the biopharmaceutical company’s stock valued at $264,000 after buying an additional 10,300 shares in the last quarter. Cantor Fitzgerald L. P. purchased a new stake in Lexicon Pharmaceuticals in the 4th quarter valued at $25,000. Pinnacle Associates Ltd. grew its holdings in Lexicon Pharmaceuticals by 1.0% in the 1st quarter. Pinnacle Associates Ltd. now owns 1,747,830 shares of the biopharmaceutical company’s stock valued at $4,195,000 after buying an additional 17,009 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its holdings in Lexicon Pharmaceuticals by 65.7% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 46,930 shares of the biopharmaceutical company’s stock valued at $113,000 after buying an additional 18,601 shares in the last quarter. 74.70% of the stock is owned by institutional investors and hedge funds.

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.