Lexicon Pharmaceuticals (NASDAQ:LXRX – Get Free Report) was upgraded by stock analysts at StockNews.com to a “sell” rating in a note issued to investors on Monday.
Separately, Needham & Company LLC reiterated a “hold” rating on shares of Lexicon Pharmaceuticals in a report on Thursday, April 11th.
Check Out Our Latest Stock Analysis on Lexicon Pharmaceuticals
Lexicon Pharmaceuticals Stock Performance
Lexicon Pharmaceuticals (NASDAQ:LXRX – Get Free Report) last released its earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.03. Lexicon Pharmaceuticals had a negative net margin of 14,573.20% and a negative return on equity of 138.54%. The firm had revenue of $0.70 million during the quarter, compared to analyst estimates of $0.68 million. As a group, analysts expect that Lexicon Pharmaceuticals will post -0.71 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Lexicon Pharmaceuticals
Hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can purchased a new position in Lexicon Pharmaceuticals in the 1st quarter worth approximately $26,000. Kestra Advisory Services LLC purchased a new position in Lexicon Pharmaceuticals in the 2nd quarter worth approximately $33,000. ExodusPoint Capital Management LP purchased a new position in Lexicon Pharmaceuticals in the 1st quarter worth approximately $38,000. Cantor Fitzgerald L. P. purchased a new position in Lexicon Pharmaceuticals in the 4th quarter worth approximately $25,000. Finally, BNP Paribas Arbitrage SNC raised its holdings in Lexicon Pharmaceuticals by 125.1% in the 1st quarter. BNP Paribas Arbitrage SNC now owns 18,552 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 10,312 shares during the last quarter. 74.70% of the stock is currently owned by hedge funds and other institutional investors.
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.
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