Lexicon Pharmaceuticals (NASDAQ:LXRX) Posts Quarterly Earnings Results, Hits Estimates

Lexicon Pharmaceuticals (NASDAQ:LXRXGet Rating) posted its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, meeting the consensus estimate of ($0.16), MarketWatch Earnings reports. Lexicon Pharmaceuticals had a negative net margin of 29,448.99% and a negative return on equity of 65.01%. During the same quarter last year, the business posted ($0.15) earnings per share.

Shares of LXRX traded down $0.05 during midday trading on Friday, hitting $1.80. The stock had a trading volume of 481,469 shares, compared to its average volume of 468,615. Lexicon Pharmaceuticals has a fifty-two week low of $1.77 and a fifty-two week high of $6.33. The business has a 50-day simple moving average of $2.14 and a two-hundred day simple moving average of $3.36. The firm has a market cap of $269.26 million, a P/E ratio of -2.90 and a beta of 1.53.

Institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SA boosted its holdings in shares of Lexicon Pharmaceuticals by 452.8% in the third quarter. BNP Paribas Arbitrage SA now owns 15,241 shares of the biopharmaceutical company’s stock worth $73,000 after buying an additional 12,484 shares during the period. Citigroup Inc. boosted its holdings in shares of Lexicon Pharmaceuticals by 164.2% in the fourth quarter. Citigroup Inc. now owns 23,607 shares of the biopharmaceutical company’s stock worth $93,000 after buying an additional 14,672 shares during the period. Invesco Ltd. boosted its holdings in shares of Lexicon Pharmaceuticals by 85.9% in the second quarter. Invesco Ltd. now owns 23,185 shares of the biopharmaceutical company’s stock worth $106,000 after buying an additional 10,714 shares during the period. Squarepoint Ops LLC boosted its holdings in shares of Lexicon Pharmaceuticals by 214.8% in the fourth quarter. Squarepoint Ops LLC now owns 38,765 shares of the biopharmaceutical company’s stock worth $153,000 after buying an additional 26,451 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Lexicon Pharmaceuticals in the third quarter worth about $215,000. Institutional investors own 90.91% of the company’s stock.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Lexicon Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.00 price objective for the company in a research report on Saturday, April 9th. StockNews.com began coverage on shares of Lexicon Pharmaceuticals in a research report on Thursday, March 31st. They set a “sell” rating for the company.

Lexicon Pharmaceuticals Company Profile (Get Rating)

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.

Further Reading

Earnings History for Lexicon Pharmaceuticals (NASDAQ:LXRX)

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