Lexicon Pharmaceuticals (NASDAQ:LXRX) Sees Strong Trading Volume – What’s Next?

Shares of Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) saw unusually-high trading volume on Wednesday . Approximately 4,125,033 shares changed hands during mid-day trading, an increase of 144% from the previous session’s volume of 1,688,296 shares.The stock last traded at $1.5850 and had previously closed at $1.31.

Wall Street Analysts Forecast Growth

LXRX has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $3.23.

Lexicon Pharmaceuticals Price Performance

The firm has a market cap of $566.90 million, a price-to-earnings ratio of -8.21 and a beta of 0.71. The company has a current ratio of 5.64, a quick ratio of 5.63 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average is $1.29 and its 200-day moving average is $1.26.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its quarterly earnings results on Thursday, November 6th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.03. The company had revenue of $14.18 million for the quarter, compared to analyst estimates of $5.81 million. Lexicon Pharmaceuticals had a negative return on equity of 52.90% and a negative net margin of 96.77%. Equities research analysts predict that Lexicon Pharmaceuticals, Inc. will post -0.66 earnings per share for the current year.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

A number of hedge funds have recently modified their holdings of LXRX. Savant Capital LLC raised its position in shares of Lexicon Pharmaceuticals by 33.2% during the second quarter. Savant Capital LLC now owns 69,578 shares of the biopharmaceutical company’s stock worth $66,000 after acquiring an additional 17,348 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Lexicon Pharmaceuticals by 80.1% in the 3rd quarter. Bank of America Corp DE now owns 57,804 shares of the biopharmaceutical company’s stock valued at $78,000 after purchasing an additional 25,707 shares during the last quarter. Vermillion & White Wealth Management Group LLC increased its position in shares of Lexicon Pharmaceuticals by 400.0% during the third quarter. Vermillion & White Wealth Management Group LLC now owns 32,500 shares of the biopharmaceutical company’s stock worth $44,000 after buying an additional 26,000 shares during the period. Hudson Bay Capital Management LP bought a new stake in shares of Lexicon Pharmaceuticals during the 2nd quarter valued at about $26,000. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Lexicon Pharmaceuticals by 77.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 65,330 shares of the biopharmaceutical company’s stock worth $62,000 after buying an additional 28,594 shares in the last quarter. Institutional investors and hedge funds own 74.70% of the company’s stock.

Lexicon Pharmaceuticals Company Profile

Lexicon Pharmaceuticals, Inc is a biopharmaceutical company focused on the discovery and development of novel medicines through its proprietary genome biology platform. By leveraging large-scale gene knockout libraries, the company identifies potential therapeutic targets and advances them through preclinical and clinical development. Lexicon’s approach emphasizes the translation of genetic insights into targeted therapies for a range of human diseases.

The company’s most advanced product is telotristat ethyl (sold under the brand name XERMELO), an oral treatment approved for the management of carcinoid syndrome diarrhea in patients inadequately controlled by somatostatin analog therapy.