Lexicon Pharmaceuticals (NASDAQ:LXRX) Shares Down 9%

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) shares dropped 9% during trading on Thursday . The stock traded as low as $1.29 and last traded at $1.32, approximately 784,400 shares traded hands during mid-day trading. A decline of 19% from the average daily volume of 973,658 shares. The stock had previously closed at $1.45.

LXRX has been the subject of several research analyst reports. Needham & Company LLC restated a “hold” rating on shares of Lexicon Pharmaceuticals in a report on Thursday, May 2nd. Stifel Nicolaus lowered shares of Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $10.00 to $4.00 in a report on Monday, July 29th. BidaskClub lowered shares of Lexicon Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, July 19th. Wedbush restated an “outperform” rating and issued a $17.00 price objective (down from $35.00) on shares of Lexicon Pharmaceuticals in a report on Thursday, August 1st. Finally, ValuEngine raised shares of Lexicon Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $7.63.

The stock’s 50 day simple moving average is $4.20 and its two-hundred day simple moving average is $5.51. The firm has a market cap of $145.59 million, a P/E ratio of -1.20 and a beta of 0.77.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last announced its earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.13). The business had revenue of $9.68 million for the quarter, compared to analyst estimates of $28.52 million. During the same period last year, the company earned ($0.33) earnings per share. The business’s quarterly revenue was down 29.9% on a year-over-year basis. On average, analysts forecast that Lexicon Pharmaceuticals, Inc. will post -0.8 EPS for the current year.

In other Lexicon Pharmaceuticals news, Director Sam L. Barker bought 24,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was acquired at an average price of $1.18 per share, with a total value of $28,320.00. Following the completion of the purchase, the director now owns 40,187 shares of the company’s stock, valued at $47,420.66. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 6.40% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in LXRX. BNP Paribas Arbitrage SA increased its position in shares of Lexicon Pharmaceuticals by 940.2% during the first quarter. BNP Paribas Arbitrage SA now owns 9,934 shares of the biopharmaceutical company’s stock valued at $55,000 after acquiring an additional 8,979 shares in the last quarter. Wealth & Pension Services Group Inc. bought a new stake in shares of Lexicon Pharmaceuticals during the first quarter valued at approximately $60,000. Trexquant Investment LP bought a new stake in shares of Lexicon Pharmaceuticals during the second quarter valued at approximately $92,000. Metropolitan Life Insurance Co. NY increased its position in shares of Lexicon Pharmaceuticals by 409.3% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 14,760 shares of the biopharmaceutical company’s stock valued at $98,000 after acquiring an additional 11,862 shares in the last quarter. Finally, Voloridge Investment Management LLC bought a new stake in shares of Lexicon Pharmaceuticals during the second quarter valued at approximately $105,000. 97.95% of the stock is owned by institutional investors.

Lexicon Pharmaceuticals Company Profile (NASDAQ:LXRX)

Lexicon Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of pharmaceutical products. The company offers XERMELO, an orally-delivered small molecule drug candidate for the treatment of carcinoid syndrome diarrhea in combination with somatostatin analog therapy in adults.

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