Lexicon Pharmaceuticals (NASDAQ:LXRX) Rating Reiterated by Leerink Partnrs

Leerink Partnrs reiterated their outperform rating on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a research report report published 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.

Several other research firms also recently weighed in on LXRX. Needham & Company LLC reiterated a hold rating on shares of Lexicon Pharmaceuticals in a research note on Tuesday, April 23rd. SVB Leerink assumed coverage on shares of Lexicon Pharmaceuticals in a research note on Tuesday. They issued an outperform rating and a $5.00 price objective for the company. Finally, StockNews.com upgraded Lexicon Pharmaceuticals to a sell rating in a research report on Wednesday.

Lexicon Pharmaceuticals Price Performance

Lexicon Pharmaceuticals stock opened at $1.74 on Tuesday. The business’s 50 day simple moving average is $2.12 and its 200 day simple moving average is $1.74. Lexicon Pharmaceuticals has a 12 month low of $0.92 and a 12 month high of $3.79. The company has a market cap of $428.46 million, a price-to-earnings ratio of -2.17 and a beta of 1.38. 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 (NASDAQ:LXRX) last issued its quarterly earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.03. The firm had revenue of $0.70 million for the quarter, compared to analysts’ expectations of $0.68 million. Lexicon Pharmaceuticals had a negative return on equity of 138.54% and a negative net margin of 14,573.20%. Sell-side analysts forecast that Lexicon Pharmaceuticals will post -0.66 EPS for the current year.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its holdings in Lexicon Pharmaceuticals by 82.6% in the 1st 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. China Universal Asset Management Co. Ltd. raised its position in shares of Lexicon Pharmaceuticals by 65.7% in the first quarter. China Universal Asset Management Co. Ltd. now owns 46,930 shares of the biopharmaceutical company’s stock worth $113,000 after buying an additional 18,601 shares in the last quarter. Pinnacle Associates Ltd. boosted its stake in Lexicon Pharmaceuticals by 1.0% during the first quarter. Pinnacle Associates Ltd. now owns 1,747,830 shares of the biopharmaceutical company’s stock valued at $4,195,000 after buying an additional 17,009 shares during the period. BVF Inc. IL grew its position in Lexicon Pharmaceuticals by 22.2% during the fourth quarter. BVF Inc. IL now owns 24,435,632 shares of the biopharmaceutical company’s stock worth $37,387,000 after buying an additional 4,440,300 shares in the last quarter. Finally, Cantor Fitzgerald L. P. bought a new position in Lexicon Pharmaceuticals in the 4th quarter worth about $25,000. Hedge funds and other 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.