Key Points
- CEO Michael Exton bought 30,064 shares at an average price of $1.66, spending about $49,906. The purchase increased his direct stake by 10.07% to 328,496 shares.
- Lexicon reported quarterly earnings per share of -$0.03, beating analyst expectations of -$0.06, and revenue of $11.25 million versus estimates of $4.14 million.
- Analyst views are mixed: the stock has a consensus “Hold” rating and an average price target of $5.80, while institutional investors and hedge funds own 74.7% of shares.
Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX - Get Free Report) CEO Michael Exton purchased 30,064 shares of the stock in a transaction dated Friday, November 6th. The shares were acquired at an average cost of $1.66 per share, with a total value of $49,906.24. Following the acquisition, the chief executive officer directly owned 328,496 shares in the company, valued at $545,303.36. This represents a 10.07% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Lexicon Pharmaceuticals Stock Performance
Lexicon Pharmaceuticals stock opened at $1.82 on Tuesday. Lexicon Pharmaceuticals, Inc. has a 12-month low of $1.10 and a 12-month high of $2.68. The company has a quick ratio of 13.29, a current ratio of 13.37 and a debt-to-equity ratio of 0.29. The business's 50-day moving average price is $1.80 and its two-hundred day moving average price is $1.89. The stock has a market cap of $809.83 million, a PE ratio of -13.00 and a beta of 1.10.
Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.06) by $0.03. The business had revenue of $11.25 million during the quarter, compared to analysts' expectations of $4.14 million. Lexicon Pharmaceuticals had a negative net margin of 147.38% and a negative return on equity of 37.53%. As a group, analysts expect that Lexicon Pharmaceuticals, Inc. will post -0.16 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several research firms have commented on LXRX. Weiss Ratings reiterated a "sell (d-)" rating on shares of Lexicon Pharmaceuticals in a research report on Wednesday, October 21st. Cantor Fitzgerald started coverage on Lexicon Pharmaceuticals in a research note on Monday, September 28th. They set an "overweight" rating and a $8.00 price target on the stock. Wall Street Zen upgraded Lexicon Pharmaceuticals from a "strong sell" rating to a "hold" rating in a report on Sunday. Zacks Research downgraded Lexicon Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 3rd. Finally, Citigroup raised their price objective on shares of Lexicon Pharmaceuticals from $3.10 to $3.40 and gave the company a "buy" rating in a report on Monday. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Lexicon Pharmaceuticals has a consensus rating of "Hold" and an average price target of $5.80.
Check Out Our Latest Stock Analysis on LXRX
Hedge Funds Weigh In On Lexicon Pharmaceuticals
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Siren L.L.C. raised its holdings in Lexicon Pharmaceuticals by 13.8% during the 1st quarter. Siren L.L.C. now owns 44,303,518 shares of the biopharmaceutical company's stock worth $69,113,000 after purchasing an additional 5,384,615 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Lexicon Pharmaceuticals by 508.0% during the first quarter. Renaissance Technologies LLC now owns 1,600,500 shares of the biopharmaceutical company's stock worth $2,497,000 after buying an additional 1,337,246 shares during the period. Bank of New York Mellon Corp bought a new position in Lexicon Pharmaceuticals during the second quarter worth $1,365,000. ADAR1 Capital Management LLC bought a new position in Lexicon Pharmaceuticals during the first quarter worth $1,170,000. Finally, Bank of America Corp DE raised its stake in Lexicon Pharmaceuticals by 415.3% during the first quarter. Bank of America Corp DE now owns 526,103 shares of the biopharmaceutical company's stock worth $821,000 after buying an additional 424,006 shares during the last quarter. 74.70% of the stock is owned by institutional investors and hedge funds.
About Lexicon Pharmaceuticals
(
Get Free Report)
Lexicon Pharmaceuticals, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for serious and chronic diseases. The company uses its drug discovery platform to identify small-molecule treatments designed to target specific biological pathways, with an emphasis on metabolic, cardiovascular and neurological conditions.
Lexicon's commercial products include INPEFA (sotagliflozin), an oral medicine approved in the United States to reduce the risk of cardiovascular death, hospitalization for heart failure and urgent heart-failure visits in certain adults with heart failure or type 2 diabetes and chronic kidney disease.
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