Lexicon Pharmaceuticals (NASDAQ:LXRX) Stock Price Expected to Rise, HC Wainwright Analyst Says

Lexicon Pharmaceuticals (NASDAQ:LXRX) had its price objective raised by equities research analysts at HC Wainwright from $4.00 to $6.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price target suggests a potential upside of 253.98% from the company’s current price.

LXRX has been the topic of several other reports. Wall Street Zen lowered Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a research report on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $4.63.

Lexicon Pharmaceuticals Stock Performance

Shares of LXRX stock traded up $0.07 during trading hours on Thursday, reaching $1.70. The stock had a trading volume of 2,612,658 shares, compared to its average volume of 2,939,603. The company has a debt-to-equity ratio of 0.47, a current ratio of 5.64 and a quick ratio of 5.63. Lexicon Pharmaceuticals has a twelve month low of $0.32 and a twelve month high of $1.83. The firm has a 50-day simple moving average of $1.35 and a 200-day simple moving average of $1.32. The firm has a market capitalization of $616.08 million, a PE ratio of -8.92 and a beta of 0.94.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last announced its quarterly earnings data on Thursday, March 5th. The biopharmaceutical company reported ($0.04) earnings per share 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 business had revenue of $5.49 million during the quarter, compared to analyst estimates of $3.14 million. As a group, equities analysts forecast that Lexicon Pharmaceuticals will post -0.66 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Raymond Debbane acquired 100,000 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The stock was acquired at an average cost of $1.47 per share, with a total value of $147,000.00. Following the acquisition, the director owned 1,904,186 shares in the company, valued at approximately $2,799,153.42. This represents a 5.54% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Invus Global Management, Llc bought 1,538,462 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was purchased at an average price of $1.30 per share, for a total transaction of $2,000,000.60. Following the acquisition, the director directly owned 1,538,462 shares in the company, valued at approximately $2,000,000.60. This trade represents a ? increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 1,790,462 shares of company stock valued at $2,369,981 in the last ninety days. Company insiders own 13.90% of the company’s stock.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Hudson Bay Capital Management LP acquired a new position in shares of Lexicon Pharmaceuticals during the 2nd quarter worth about $26,000. Security National Bank of Sioux City Iowa IA bought a new position in Lexicon Pharmaceuticals in the 4th quarter worth approximately $31,000. Leonteq Securities AG acquired a new position in shares of Lexicon Pharmaceuticals during the fourth quarter worth approximately $34,000. EntryPoint Capital LLC bought a new stake in shares of Lexicon Pharmaceuticals in the fourth quarter valued at approximately $39,000. Finally, Virtu Financial LLC acquired a new stake in shares of Lexicon Pharmaceuticals in the fourth quarter worth $42,000. 74.70% of the stock is owned by institutional investors and hedge funds.

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.