Lexicon Pharmaceuticals (NASDAQ:LXRX) Shares Gap Down – What’s Next?

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) shares gapped down before the market opened on Thursday . The stock had previously closed at $2.21, but opened at $2.11. Lexicon Pharmaceuticals shares last traded at $2.2180, with a volume of 144,516 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on LXRX shares. Weiss Ratings restated a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a research report on Thursday, January 22nd. HC Wainwright restated a “buy” rating and set a $6.00 price target on shares of Lexicon Pharmaceuticals in a research report on Monday, March 23rd. Finally, Citigroup increased their price target on shares of Lexicon Pharmaceuticals from $2.30 to $3.10 and gave the company a “buy” rating in a research report on Monday, May 11th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $4.55.

Lexicon Pharmaceuticals Price Performance

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 stock has a market cap of $983.90 million, a P/E ratio of -31.50 and a beta of 0.97. The business’s 50-day simple moving average is $1.78 and its two-hundred day simple moving average is $1.51.

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

Insider Activity

In related news, Director Raymond Debbane bought 100,000 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were purchased at an average price of $1.47 per share, for a total transaction of $147,000.00. Following the completion of the transaction, the director directly owned 1,904,186 shares in the company, valued at approximately $2,799,153.42. The trade was a 5.54% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders acquired a total of 202,000 shares of company stock worth $297,980 in the last quarter. Corporate insiders own 14.00% of the company’s stock.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Several institutional investors have recently made changes to their positions in the stock. Siren L.L.C. lifted its position in shares of Lexicon Pharmaceuticals by 13.8% during the first quarter. Siren L.L.C. now owns 44,303,518 shares of the biopharmaceutical company’s stock worth $69,113,000 after acquiring an additional 5,384,615 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Lexicon Pharmaceuticals by 7.6% in the third quarter. Vanguard Group Inc. now owns 9,521,874 shares of the biopharmaceutical company’s stock worth $12,855,000 after buying an additional 670,838 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Lexicon Pharmaceuticals by 25.9% in the fourth quarter. Millennium Management LLC now owns 4,821,733 shares of the biopharmaceutical company’s stock worth $5,545,000 after buying an additional 991,073 shares in the last quarter. UBS Group AG lifted its holdings in shares of Lexicon Pharmaceuticals by 752.1% in the fourth quarter. UBS Group AG now owns 3,007,237 shares of the biopharmaceutical company’s stock worth $3,458,000 after buying an additional 2,654,315 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Lexicon Pharmaceuticals by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 2,500,022 shares of the biopharmaceutical company’s stock worth $2,876,000 after buying an additional 102,099 shares in the last quarter. Hedge funds and other institutional investors own 74.70% of the company’s stock.

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.