Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX – Get Free Report) shares were up 9.7% during mid-day trading on Tuesday . The stock traded as high as $2.04 and last traded at $2.04. Approximately 3,281,414 shares were traded during mid-day trading, a decline of 3% from the average daily volume of 3,369,921 shares. The stock had previously closed at $1.86.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on LXRX shares. Leerink Partners set a $6.00 price objective on Lexicon Pharmaceuticals and gave the company an “outperform” rating in a research report on Friday, October 18th. StockNews.com upgraded Lexicon Pharmaceuticals to a “sell” rating in a research report on Tuesday, July 9th. HC Wainwright reiterated a “buy” rating and issued a $10.00 price objective on shares of Lexicon Pharmaceuticals in a research report on Wednesday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Wednesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Lexicon Pharmaceuticals currently has an average rating of “Hold” and an average price target of $8.00.
Check Out Our Latest Research Report on LXRX
Lexicon Pharmaceuticals Stock Performance
Lexicon Pharmaceuticals (NASDAQ:LXRX – Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. The business had revenue of $1.65 million during the quarter, compared to the consensus estimate of $2.74 million. Lexicon Pharmaceuticals had a negative return on equity of 105.38% and a negative net margin of 5,509.34%. During the same quarter in the prior year, the company earned ($0.22) earnings per share. On average, equities analysts predict that Lexicon Pharmaceuticals, Inc. will post -0.69 EPS for the current year.
Hedge Funds Weigh In On Lexicon Pharmaceuticals
A number of institutional investors have recently added to or reduced their stakes in LXRX. CVI Holdings LLC purchased a new stake in shares of Lexicon Pharmaceuticals in the second quarter worth $34,000. Principal Financial Group Inc. grew its stake in shares of Lexicon Pharmaceuticals by 116.1% in the second quarter. Principal Financial Group Inc. now owns 22,759 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 12,225 shares during the last quarter. Great Point Partners LLC purchased a new stake in shares of Lexicon Pharmaceuticals in the second quarter worth $50,000. SG Americas Securities LLC boosted its position in shares of Lexicon Pharmaceuticals by 107.6% during the third quarter. SG Americas Securities LLC now owns 46,090 shares of the biopharmaceutical company’s stock valued at $72,000 after buying an additional 23,893 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Lexicon Pharmaceuticals by 44.5% during the second quarter. Victory Capital Management Inc. now owns 45,341 shares of the biopharmaceutical company’s stock valued at $76,000 after buying an additional 13,972 shares during the last quarter. Institutional investors own 74.70% of the company’s stock.
Lexicon Pharmaceuticals Company Profile
Lexicon Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of pharmaceutical products. Its orally-delivered small molecule drug candidates under development comprise Sotagliflozin that completed Phase III clinical trials for the for the treatment of heart failure and type 1 diabetes; and LX9211, which is in Phase II clinical development for the treatment of neuropathic pain and LX2761, which is in Phase I clinical development for gastrointestinal tract.
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