Lexicon Pharmaceuticals (NASDAQ:LXRX) Shares Up 9.7% - Here's Why

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX - Get Free Report) was up 9.7% during mid-day trading on Tuesday . The stock traded as high as $2.04 and last traded at $2.04. Approximately 3,281,414 shares were traded during mid-day trading, a decline of 3% from the average daily volume of 3,369,921 shares. The stock had previously closed at $1.86.

Analyst Ratings Changes

Several research analysts have issued reports on LXRX shares. HC Wainwright reaffirmed a "buy" rating and issued a $10.00 price target on shares of Lexicon Pharmaceuticals in a report on Wednesday, October 23rd. StockNews.com raised shares of Lexicon Pharmaceuticals to a "sell" rating in a research note on Tuesday, July 9th. Finally, Leerink Partners set a $6.00 target price on shares of Lexicon Pharmaceuticals and gave the company an "outperform" rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $8.00.

Lexicon Pharmaceuticals Stock Performance

The firm's fifty day moving average price is $1.73 and its 200 day moving average price is $1.77. The company has a current ratio of 11.51, a quick ratio of 11.49 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $499.86 million, a PE ratio of -2.45 and a beta of 1.28.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.01. Lexicon Pharmaceuticals had a negative net margin of 5,509.34% and a negative return on equity of 105.38%. The business had revenue of $1.65 million for the quarter, compared to analysts' expectations of $2.74 million. During the same period in the previous year, the company posted ($0.22) EPS. On average, research analysts anticipate that Lexicon Pharmaceuticals, Inc. will post -0.69 earnings per share for the current year.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Large investors have recently bought and sold shares of the business. CVI Holdings LLC bought a new stake in Lexicon Pharmaceuticals during the second quarter valued at about $34,000. Principal Financial Group Inc. boosted its holdings in Lexicon Pharmaceuticals by 116.1% during the second quarter. Principal Financial Group Inc. now owns 22,759 shares of the biopharmaceutical company's stock valued at $38,000 after acquiring an additional 12,225 shares during the period. Great Point Partners LLC acquired a new position in shares of Lexicon Pharmaceuticals during the second quarter valued at about $50,000. SG Americas Securities LLC raised its position in shares of Lexicon Pharmaceuticals by 107.6% during the third quarter. SG Americas Securities LLC now owns 46,090 shares of the biopharmaceutical company's stock valued at $72,000 after buying an additional 23,893 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Lexicon Pharmaceuticals by 44.5% during the second quarter. Victory Capital Management Inc. now owns 45,341 shares of the biopharmaceutical company's stock valued at $76,000 after buying an additional 13,972 shares during the last quarter. 74.70% of the stock is currently owned by 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.