What is HC Wainwright's Forecast for LXRX FY2024 Earnings?

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX - Free Report) - Analysts at HC Wainwright cut their FY2024 earnings per share estimates for Lexicon Pharmaceuticals in a note issued to investors on Wednesday, November 13th. HC Wainwright analyst J. Pantginis now anticipates that the biopharmaceutical company will post earnings of ($0.76) per share for the year, down from their previous estimate of ($0.73). HC Wainwright currently has a "Buy" rating and a $6.00 price target on the stock. The consensus estimate for Lexicon Pharmaceuticals' current full-year earnings is ($0.69) per share. HC Wainwright also issued estimates for Lexicon Pharmaceuticals' Q4 2024 earnings at ($0.15) EPS, FY2025 earnings at ($0.60) EPS and FY2026 earnings at ($0.47) EPS.

Other equities research analysts have also recently issued reports about the company. Leerink Partners set a $6.00 price target on Lexicon Pharmaceuticals and gave the company an "outperform" rating in a research note on Friday, October 18th. Needham & Company LLC reiterated a "hold" rating on shares of Lexicon Pharmaceuticals in a research note on Wednesday. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $6.00.

Lexicon Pharmaceuticals Price Performance

Shares of LXRX stock traded down $0.08 during trading on Friday, hitting $0.98. The company had a trading volume of 5,393,061 shares, compared to its average volume of 3,481,984. The company has a debt-to-equity ratio of 0.41, a quick ratio of 11.49 and a current ratio of 11.51. The firm has a market capitalization of $240.13 million, a P/E ratio of -1.36 and a beta of 1.24. The stock's 50-day moving average price is $1.63 and its 200 day moving average price is $1.74. Lexicon Pharmaceuticals has a one year low of $0.97 and a one year high of $3.73.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Compagnie Lombard Odier SCmA raised its position in Lexicon Pharmaceuticals by 6.4% during the third quarter. Compagnie Lombard Odier SCmA now owns 100,000 shares of the biopharmaceutical company's stock valued at $157,000 after purchasing an additional 6,000 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Lexicon Pharmaceuticals by 116.1% in the second quarter. Principal Financial Group Inc. now owns 22,759 shares of the biopharmaceutical company's stock valued at $38,000 after purchasing an additional 12,225 shares during the period. BNP Paribas Financial Markets increased its holdings in Lexicon Pharmaceuticals by 71.2% in the third quarter. BNP Paribas Financial Markets now owns 31,853 shares of the biopharmaceutical company's stock valued at $50,000 after purchasing an additional 13,246 shares during the period. Victory Capital Management Inc. increased its holdings in Lexicon Pharmaceuticals by 44.5% in the second quarter. Victory Capital Management Inc. now owns 45,341 shares of the biopharmaceutical company's stock valued at $76,000 after purchasing an additional 13,972 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Lexicon Pharmaceuticals by 40.5% in the second quarter. The Manufacturers Life Insurance Company now owns 49,957 shares of the biopharmaceutical company's stock valued at $84,000 after purchasing an additional 14,411 shares during the period. 74.70% of the stock is currently owned by institutional investors and hedge funds.

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.