Lexicon Pharmaceuticals (NASDAQ:LXRX) Trading Down 9.2%

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Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) was down 9.2% during mid-day trading on Thursday . The stock traded as low as $3.32 and last traded at $3.45, approximately 5,358,948 shares were traded during mid-day trading. An increase of 334% from the average daily volume of 1,234,574 shares. The stock had previously closed at $3.80.

A number of equities research analysts have recently commented on LXRX shares. Zacks Investment Research cut shares of Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, July 3rd. Citigroup reduced their target price on shares of Lexicon Pharmaceuticals from $15.00 to $3.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. G.Research raised shares of Lexicon Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Gabelli raised shares of Lexicon Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.00 target price for the company in a report on Wednesday, September 11th. Finally, Stifel Nicolaus cut shares of Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating and reduced their target price for the company from $10.00 to $4.00 in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $6.70.

The firm’s fifty day moving average is $1.62 and its 200-day moving average is $4.91.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.13). The business had revenue of $9.68 million for the quarter, compared to the consensus estimate of $28.52 million. During the same period in the previous year, the business posted ($0.33) earnings per share. The company’s quarterly revenue was down 29.9% compared to the same quarter last year. As a group, analysts anticipate that Lexicon Pharmaceuticals, Inc. will post 0.69 EPS for the current fiscal year.

In related news, CEO Lonnel Coats bought 50,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was bought at an average cost of $3.13 per share, with a total value of $156,500.00. Following the completion of the acquisition, the chief executive officer now owns 127,639 shares in the company, valued at approximately $399,510.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sam L. Barker bought 24,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was bought at an average cost of $1.18 per share, with a total value of $28,320.00. Following the completion of the acquisition, the director now owns 40,187 shares of the company’s stock, valued at approximately $47,420.66. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 289,749 shares of company stock valued at $618,230. 6.40% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in LXRX. BNP Paribas Arbitrage SA grew its position in shares of Lexicon Pharmaceuticals by 940.2% in the first quarter. BNP Paribas Arbitrage SA now owns 9,934 shares of the biopharmaceutical company’s stock valued at $55,000 after purchasing an additional 8,979 shares during the last quarter. Trexquant Investment LP bought a new position in Lexicon Pharmaceuticals during the second quarter worth $92,000. Voloridge Investment Management LLC bought a new position in Lexicon Pharmaceuticals during the second quarter worth $105,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Lexicon Pharmaceuticals during the first quarter worth $119,000. Finally, Quantitative Systematic Strategies LLC lifted its holdings in shares of Lexicon Pharmaceuticals by 67.2% during the second quarter. Quantitative Systematic Strategies LLC now owns 20,648 shares of the biopharmaceutical company’s stock worth $130,000 after buying an additional 8,302 shares in the last quarter. Institutional investors and hedge funds own 98.87% of the company’s stock.

Lexicon Pharmaceuticals Company Profile (NASDAQ:LXRX)

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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