Lexicon Pharmaceuticals (NASDAQ:LXRX) Trading 14.2% Higher

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Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)’s stock price traded up 14.2% on Wednesday . The company traded as high as $3.81 and last traded at $3.77, 1,995,400 shares changed hands during trading. An increase of 54% from the average session volume of 1,297,427 shares. The stock had previously closed at $3.30.

Several analysts have recently issued reports on the company. Gabelli raised Lexicon Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.00 target price on the stock in a report on Wednesday, September 11th. BidaskClub downgraded Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, November 27th. Citigroup cut shares of Lexicon Pharmaceuticals from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $3.00 to $4.00 in a research report on Friday, November 8th. Zacks Investment Research downgraded shares of Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, November 16th. Finally, G.Research raised shares of Lexicon Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Lexicon Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $6.45.

The firm’s 50-day simple moving average is $3.68 and its 200 day simple moving average is $3.86. The company has a debt-to-equity ratio of 1.42, a current ratio of 8.11 and a quick ratio of 8.01. The firm has a market capitalization of $449.53 million, a price-to-earnings ratio of -4.27 and a beta of 1.00.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its earnings results on Thursday, November 7th. The biopharmaceutical company reported $2.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.80. Lexicon Pharmaceuticals had a return on equity of 2,372.40% and a net margin of 49.78%. The firm had revenue of $294.45 million for the quarter, compared to the consensus estimate of $12.00 million. During the same quarter last year, the business posted ($0.26) EPS. The company’s revenue was up 4124.5% compared to the same quarter last year. As a group, research analysts predict that Lexicon Pharmaceuticals, Inc. will post 0.93 earnings per share for the current year.

In related news, CEO Lonnel Coats acquired 50,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was acquired at an average cost of $3.13 per share, for a total transaction of $156,500.00. Following the transaction, the chief executive officer now directly owns 127,639 shares in the company, valued at $399,510.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher J. Sobecki acquired 25,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were bought at an average price of $2.55 per share, with a total value of $63,750.00. Following the completion of the transaction, the director now owns 112,493 shares in the company, valued at $286,857.15. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 178,749 shares of company stock valued at $474,560. 6.40% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC grew its position in Lexicon Pharmaceuticals by 4.5% during the 3rd quarter. Millennium Management LLC now owns 1,220,629 shares of the biopharmaceutical company’s stock worth $3,674,000 after acquiring an additional 53,092 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Lexicon Pharmaceuticals during the third quarter valued at about $1,590,000. Pictet Asset Management Ltd. grew its holdings in shares of Lexicon Pharmaceuticals by 9.6% during the third quarter. Pictet Asset Management Ltd. now owns 729,876 shares of the biopharmaceutical company’s stock worth $2,197,000 after purchasing an additional 64,100 shares during the last quarter. State Street Corp grew its holdings in shares of Lexicon Pharmaceuticals by 1.5% during the third quarter. State Street Corp now owns 952,606 shares of the biopharmaceutical company’s stock worth $2,867,000 after purchasing an additional 13,654 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in shares of Lexicon Pharmaceuticals during the third quarter worth about $202,000. 96.27% of the stock is currently owned by institutional investors.

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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