Lexicon Pharmaceuticals (NASDAQ:LXRX) Reaches New 1-Year High – Should You Buy?

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $1.84 and last traded at $1.76, with a volume of 3947808 shares traded. The stock had previously closed at $1.67.

Wall Street Analysts Forecast Growth

LXRX has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a report on Thursday, January 22nd. Citigroup increased their price target on shares of Lexicon Pharmaceuticals from $2.10 to $2.30 and gave the stock a “buy” rating in a report on Tuesday, March 10th. Finally, HC Wainwright reissued a “buy” rating and issued a $6.00 price target on shares of Lexicon Pharmaceuticals in a report on Monday, March 23rd. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.15.

Lexicon Pharmaceuticals Stock Performance

The company has a quick ratio of 4.87, a current ratio of 4.88 and a debt-to-equity ratio of 0.46. The company’s 50-day moving average is $1.53 and its two-hundred day moving average is $1.42. The company has a market capitalization of $728.73 million, a P/E ratio of -12.28 and a beta of 0.94.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its quarterly earnings data on Thursday, March 5th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.03. The company had revenue of $5.49 million for the quarter, compared to analysts’ expectations of $3.14 million. Lexicon Pharmaceuticals had a negative net margin of 101.08% and a negative return on equity of 41.94%. Equities analysts anticipate that Lexicon Pharmaceuticals, Inc. will post -0.66 earnings per share for the current fiscal year.

Insider Activity at Lexicon Pharmaceuticals

In related news, Director Invus Global Management, Llc acquired 1,538,462 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were bought at an average cost of $1.30 per share, for a total transaction of $2,000,000.60. Following the completion of the transaction, the director owned 1,538,462 shares in the company, valued at approximately $2,000,000.60. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Raymond Debbane acquired 100,000 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The stock was bought at an average price of $1.47 per share, for a total transaction of $147,000.00. Following the completion of the transaction, the director owned 1,904,186 shares of the company’s stock, valued at $2,799,153.42. The trade was a 5.54% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders purchased 1,790,462 shares of company stock worth $2,369,981. 14.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. UBS Group AG grew its position in Lexicon Pharmaceuticals by 752.1% during the fourth quarter. UBS Group AG now owns 3,007,237 shares of the biopharmaceutical company’s stock valued at $3,458,000 after acquiring an additional 2,654,315 shares during the last quarter. CIBC Bancorp USA Inc. bought a new position in Lexicon Pharmaceuticals during the third quarter valued at approximately $3,240,000. Millennium Management LLC grew its position in Lexicon Pharmaceuticals by 133.1% during the third quarter. Millennium Management LLC now owns 3,830,660 shares of the biopharmaceutical company’s stock valued at $5,171,000 after acquiring an additional 2,187,396 shares during the last quarter. Marshall Wace LLP bought a new position in Lexicon Pharmaceuticals during the fourth quarter valued at approximately $1,452,000. Finally, AQR Capital Management LLC bought a new position in Lexicon Pharmaceuticals during the first quarter valued at approximately $541,000. 74.70% of the stock is currently owned by institutional investors.

About Lexicon Pharmaceuticals

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.