Lexicon Pharmaceuticals (NASDAQ:LXRX) Reaches New 1-Year High – Still a Buy?

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $1.77 and last traded at $1.6850, with a volume of 2786539 shares. The stock had previously closed at $1.56.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wall Street Zen lowered shares of 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 report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Lexicon Pharmaceuticals has an average rating of “Hold” and a consensus target price of $3.23.

Lexicon Pharmaceuticals Stock Up 8.7%

The firm’s fifty day moving average price is $1.30 and its 200-day moving average price is $1.26. The company has a debt-to-equity ratio of 0.47, a current ratio of 5.64 and a quick ratio of 5.63. The firm has a market capitalization of $615.96 million, a P/E ratio of -8.92 and a beta of 0.71.

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

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Savant Capital LLC raised its holdings in shares of Lexicon Pharmaceuticals by 33.2% in the 2nd quarter. Savant Capital LLC now owns 69,578 shares of the biopharmaceutical company’s stock worth $66,000 after purchasing an additional 17,348 shares in the last quarter. Bank of America Corp DE boosted its holdings in Lexicon Pharmaceuticals by 80.1% during the third quarter. Bank of America Corp DE now owns 57,804 shares of the biopharmaceutical company’s stock worth $78,000 after buying an additional 25,707 shares in the last quarter. Vermillion & White Wealth Management Group LLC grew its position in Lexicon Pharmaceuticals by 400.0% in the third quarter. Vermillion & White Wealth Management Group LLC now owns 32,500 shares of the biopharmaceutical company’s stock worth $44,000 after buying an additional 26,000 shares during the last quarter. Hudson Bay Capital Management LP acquired a new position in Lexicon Pharmaceuticals in the second quarter worth approximately $26,000. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in shares of Lexicon Pharmaceuticals by 77.8% in the second 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 in the last quarter. Institutional investors and hedge funds own 74.70% of the company’s stock.

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.