Lexicon Pharmaceuticals (NASDAQ:LXRX) Issues Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) issued its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.02, Zacks reports. Lexicon Pharmaceuticals had a negative net margin of 4,109.41% and a negative return on equity of 107.38%. The company had revenue of $26.55 million for the quarter, compared to the consensus estimate of $6.48 million.

Lexicon Pharmaceuticals Price Performance

Shares of NASDAQ:LXRX traded up $0.02 during midday trading on Friday, reaching $0.39. 13,534,445 shares of the company's stock traded hands, compared to its average volume of 4,048,527. Lexicon Pharmaceuticals has a 1 year low of $0.28 and a 1 year high of $2.83. The company has a market cap of $96.48 million, a P/E ratio of -0.52 and a beta of 1.04. The company has a debt-to-equity ratio of 0.56, a quick ratio of 7.43 and a current ratio of 7.45. The company has a fifty day simple moving average of $0.73 and a two-hundred day simple moving average of $1.14.

Wall Street Analyst Weigh In

LXRX has been the topic of several recent research reports. Leerink Partners restated a "market perform" rating and issued a $1.00 price objective (down previously from $2.00) on shares of Lexicon Pharmaceuticals in a research report on Tuesday. Needham & Company LLC restated a "hold" rating on shares of Lexicon Pharmaceuticals in a research report on Monday, March 3rd. Leerink Partnrs lowered Lexicon Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. Piper Sandler lowered their price objective on Lexicon Pharmaceuticals from $10.00 to $6.00 and set an "overweight" rating on the stock in a research report on Friday. Finally, HC Wainwright restated a "buy" rating and issued a $4.00 price objective on shares of Lexicon Pharmaceuticals in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $3.67.

Remove Ads

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Lexicon Pharmaceuticals stock. Bank of America Corp DE increased its holdings in shares of Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX - Free Report) by 27.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,407 shares of the biopharmaceutical company's stock after buying an additional 29,319 shares during the period. Bank of America Corp DE owned about 0.06% of Lexicon Pharmaceuticals worth $101,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 74.70% of the stock is currently owned by hedge funds and other institutional investors.

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.