Lexicon Pharmaceuticals’ (LXRX) Outperform Rating Reaffirmed at Leerink Partnrs

Lexicon Pharmaceuticals (NASDAQ:LXRX)‘s stock had its “outperform” rating reaffirmed by research analysts at Leerink Partnrs in a note issued to investors on Tuesday, Zacks.com reports. Leerink Partnrs also issued estimates for Lexicon Pharmaceuticals’ Q1 2024 earnings at ($0.13) EPS, 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.

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

Lexicon Pharmaceuticals Trading Up 7.1 %

Shares of Lexicon Pharmaceuticals stock opened at $1.65 on Tuesday. The company has a quick ratio of 5.58, a current ratio of 5.60 and a debt-to-equity ratio of 1.07. Lexicon Pharmaceuticals has a fifty-two week low of $0.92 and a fifty-two week high of $3.79. The firm has a market cap of $406.30 million, a price-to-earnings ratio of -2.06 and a beta of 1.38. The business has a fifty day simple moving average of $2.13 and a 200-day simple moving average of $1.74.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.03. The company had revenue of $0.70 million during the quarter, compared to analyst estimates of $0.68 million. Lexicon Pharmaceuticals had a negative return on equity of 138.54% and a negative net margin of 14,573.20%. On average, equities analysts forecast that Lexicon Pharmaceuticals will post -0.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Cantor Fitzgerald L. P. acquired a new stake in Lexicon Pharmaceuticals in the 4th quarter worth approximately $25,000. Principal Securities Inc. acquired a new stake in shares of Lexicon Pharmaceuticals in the fourth quarter worth $33,000. TIAA Trust National Association bought a new stake in shares of Lexicon Pharmaceuticals during the 3rd quarter worth $29,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Lexicon Pharmaceuticals by 350.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 28,329 shares of the biopharmaceutical company’s stock worth $43,000 after buying an additional 22,043 shares during the period. Finally, RPO LLC acquired a new position in Lexicon Pharmaceuticals in the 4th quarter valued at $49,000. Institutional investors and hedge funds 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.