Insider Buying: Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) Director Acquires $63,750.00 in Stock

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Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) Director Christopher J. Sobecki acquired 25,000 shares of the stock in a transaction dated Monday, September 16th. The stock was bought at an average price of $2.55 per share, for a total transaction of $63,750.00. Following the purchase, the director now owns 112,493 shares of the company’s stock, valued at approximately $286,857.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Shares of Lexicon Pharmaceuticals stock opened at $3.45 on Friday. The company’s fifty day simple moving average is $1.58 and its 200-day simple moving average is $4.92. The company has a market cap of $312.44 million, a price-to-earnings ratio of -3.03 and a beta of 0.75. Lexicon Pharmaceuticals, Inc. has a 1 year low of $1.13 and a 1 year high of $11.51.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last announced its quarterly earnings data on Wednesday, July 31st. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.13). The firm had revenue of $9.68 million for the quarter, compared to analyst estimates of $28.52 million. During the same quarter last year, the firm posted ($0.33) EPS. The company’s revenue was down 29.9% compared to the same quarter last year. On average, analysts anticipate that Lexicon Pharmaceuticals, Inc. will post 0.69 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Lexicon Pharmaceuticals by 8.1% during the second quarter. Vanguard Group Inc. now owns 4,240,111 shares of the biopharmaceutical company’s stock worth $26,670,000 after buying an additional 319,382 shares in the last quarter. First Manhattan Co. boosted its stake in Lexicon Pharmaceuticals by 7.3% during the second quarter. First Manhattan Co. now owns 2,949,979 shares of the biopharmaceutical company’s stock worth $18,555,000 after buying an additional 201,393 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Lexicon Pharmaceuticals by 3.4% during the first quarter. Clearbridge Investments LLC now owns 1,292,130 shares of the biopharmaceutical company’s stock worth $7,184,000 after buying an additional 42,540 shares in the last quarter. Pictet Asset Management Ltd. boosted its stake in Lexicon Pharmaceuticals by 13.4% during the second quarter. Pictet Asset Management Ltd. now owns 665,776 shares of the biopharmaceutical company’s stock worth $4,188,000 after buying an additional 78,926 shares in the last quarter. Finally, Pinnacle Associates Ltd. boosted its stake in Lexicon Pharmaceuticals by 1.8% during the first quarter. Pinnacle Associates Ltd. now owns 550,549 shares of the biopharmaceutical company’s stock worth $3,061,000 after buying an additional 9,615 shares in the last quarter. Hedge funds and other institutional investors own 98.87% of the company’s stock.

LXRX has been the topic of several research analyst reports. G.Research upgraded shares of Lexicon Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Citigroup lowered their price objective on shares of Lexicon Pharmaceuticals from $15.00 to $3.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. ValuEngine downgraded shares of Lexicon Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday. Stifel Nicolaus downgraded shares of Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $10.00 to $4.00 in a research note on Monday, July 29th. Finally, Zacks Investment Research downgraded shares of Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $6.70.

About Lexicon Pharmaceuticals

Lexicon Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of pharmaceutical products. The company offers XERMELO, an orally-delivered small molecule drug candidate for the treatment of carcinoid syndrome diarrhea in combination with somatostatin analog therapy in adults.

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