Lexicon Pharmaceuticals (NASDAQ:LXRX) Receives Outperform Rating from Leerink Partnrs

Leerink Partnrs reissued their outperform rating on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a research note released on Tuesday morning, 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.

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

Lexicon Pharmaceuticals Stock Performance

LXRX stock opened at $1.74 on Tuesday. The stock’s 50 day simple moving average is $2.12 and its 200 day simple moving average is $1.74. The company has a current ratio of 5.60, a quick ratio of 5.58 and a debt-to-equity ratio of 1.07. Lexicon Pharmaceuticals has a 12-month low of $0.92 and a 12-month high of $3.79. The stock has a market capitalization of $428.46 million, a PE ratio of -2.17 and a beta of 1.38.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its quarterly earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $0.70 million during the quarter, compared to analysts’ expectations of $0.68 million. As a group, research analysts forecast that Lexicon Pharmaceuticals will post -0.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. BVF Inc. IL raised its position in Lexicon Pharmaceuticals by 22.2% in the fourth quarter. BVF Inc. IL now owns 24,435,632 shares of the biopharmaceutical company’s stock worth $37,387,000 after acquiring an additional 4,440,300 shares during the period. Pinnacle Associates Ltd. raised its holdings in Lexicon Pharmaceuticals by 1.0% in the 1st 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. Swiss National Bank lifted its position in Lexicon Pharmaceuticals by 4.4% during 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 in the last quarter. BNP Paribas Financial Markets grew its holdings in Lexicon Pharmaceuticals by 82.6% during the first quarter. BNP Paribas Financial Markets now owns 59,378 shares of the biopharmaceutical company’s stock valued at $143,000 after purchasing an additional 26,859 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Lexicon Pharmaceuticals in the third quarter worth about $64,000. 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.