Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) Forecasted to Post Q1 2024 Earnings of ($0.13) Per Share

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) – Research analysts at Leerink Partnrs issued their Q1 2024 earnings per share estimates for shares of Lexicon Pharmaceuticals in a research report issued on Tuesday, April 30th. Leerink Partnrs analyst R. Ruiz anticipates that the biopharmaceutical company will post earnings per share of ($0.13) for the quarter. Leerink Partnrs has a “Outperform” rating on the stock. The consensus estimate for Lexicon Pharmaceuticals’ current full-year earnings is ($0.71) per share. Leerink Partnrs also issued estimates for Lexicon Pharmaceuticals’ Q2 2024 earnings at ($0.13) EPS, Q3 2024 earnings at ($0.13) EPS, Q4 2024 earnings at ($0.16) EPS, FY2024 earnings at ($0.55) EPS, FY2025 earnings at ($0.50) EPS, FY2026 earnings at ($0.24) EPS and FY2027 earnings at $0.07 EPS.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its quarterly earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.03. Lexicon Pharmaceuticals had a negative return on equity of 138.54% and a negative net margin of 14,573.20%. The business had revenue of $0.70 million during the quarter, compared to analysts’ expectations of $0.68 million.

A number of other research analysts have also issued reports on LXRX. StockNews.com upgraded Lexicon Pharmaceuticals to a “sell” rating in a report on Wednesday. SVB Leerink started coverage on shares of Lexicon Pharmaceuticals in a research note on Tuesday. They set an “outperform” rating and a $5.00 target price on the stock. Finally, Needham & Company LLC reissued a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Tuesday, April 23rd.

Lexicon Pharmaceuticals Stock Up 7.1 %

Shares of LXRX opened at $1.65 on Thursday. The company’s 50-day simple moving average is $2.13 and its 200-day simple moving average is $1.74. The company has a debt-to-equity ratio of 1.07, a quick ratio of 5.58 and a current ratio of 5.60. Lexicon Pharmaceuticals has a 1 year low of $0.92 and a 1 year high of $3.79. The stock has a market capitalization of $406.30 million, a PE ratio of -2.06 and a beta of 1.38.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LXRX. Victory Capital Management Inc. grew its holdings in shares of Lexicon Pharmaceuticals by 22.0% during the fourth quarter. Victory Capital Management Inc. now owns 32,187 shares of the biopharmaceutical company’s stock worth $49,000 after buying an additional 5,813 shares during the last quarter. Swiss National Bank increased its holdings in shares of Lexicon Pharmaceuticals by 4.4% in the third quarter. Swiss National Bank now owns 242,300 shares of the biopharmaceutical company’s stock valued at $264,000 after purchasing an additional 10,300 shares during the period. Cantor Fitzgerald L. P. purchased a new stake in shares of Lexicon Pharmaceuticals during the fourth quarter worth approximately $25,000. Pinnacle Associates Ltd. lifted its holdings in shares of Lexicon Pharmaceuticals by 1.0% during the first quarter. Pinnacle Associates Ltd. now owns 1,747,830 shares of the biopharmaceutical company’s stock worth $4,195,000 after purchasing an additional 17,009 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its stake in Lexicon Pharmaceuticals by 65.7% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 46,930 shares of the biopharmaceutical company’s stock valued at $113,000 after buying an additional 18,601 shares during the period. Hedge funds and other institutional investors own 74.70% of the company’s stock.

About Lexicon Pharmaceuticals

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.