Wall Street brokerages expect Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) to post sales of $13.06 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Lexicon Pharmaceuticals’ earnings, with the highest sales estimate coming in at $18.19 million and the lowest estimate coming in at $8.02 million. Lexicon Pharmaceuticals reported sales of $6.86 million during the same quarter last year, which indicates a positive year-over-year growth rate of 90.4%. The business is scheduled to issue its next quarterly earnings report on Thursday, November 7th.
According to Zacks, analysts expect that Lexicon Pharmaceuticals will report full-year sales of $52.18 million for the current year, with estimates ranging from $35.25 million to $72.00 million. For the next year, analysts anticipate that the firm will post sales of $113.99 million, with estimates ranging from $63.46 million to $154.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Lexicon Pharmaceuticals.
Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its quarterly earnings data on Wednesday, July 31st. The biopharmaceutical company reported ($0.22) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.13). The company had revenue of $9.68 million during the quarter, compared to analysts’ expectations of $28.52 million. Lexicon Pharmaceuticals’s revenue was down 29.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.33) EPS.
A number of analysts recently weighed in on LXRX shares. Needham & Company LLC reaffirmed 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 reduced their target price for the company from $10.00 to $4.00 in a research note on Monday, July 29th. Citigroup decreased their target price on shares of Lexicon Pharmaceuticals from $15.00 to $3.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. BidaskClub lowered shares of Lexicon Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, July 19th. Finally, ValuEngine raised Lexicon Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $7.63.
In related news, Director Sam L. Barker acquired 24,000 shares of Lexicon Pharmaceuticals stock in a transaction that occurred 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 acquisition, the director now directly owns 40,187 shares of the company’s stock, valued at approximately $47,420.66. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 6.40% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA lifted its position in Lexicon Pharmaceuticals by 940.2% in the first quarter. BNP Paribas Arbitrage SA now owns 9,934 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 8,979 shares during the period. Wealth & Pension Services Group Inc. bought a new stake in shares of Lexicon Pharmaceuticals in the 1st quarter worth $60,000. Trexquant Investment LP bought a new stake in shares of Lexicon Pharmaceuticals in the 2nd quarter worth $92,000. Metropolitan Life Insurance Co. NY lifted its holdings in shares of Lexicon Pharmaceuticals by 409.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 14,760 shares of the biopharmaceutical company’s stock valued at $98,000 after buying an additional 11,862 shares during the period. Finally, Quantitative Systematic Strategies LLC lifted its holdings in shares of Lexicon Pharmaceuticals by 67.2% in the second quarter. Quantitative Systematic Strategies LLC now owns 20,648 shares of the biopharmaceutical company’s stock valued at $130,000 after buying an additional 8,302 shares during the period. Institutional investors and hedge funds own 97.95% of the company’s stock.
Shares of LXRX traded up $0.01 during midday trading on Wednesday, hitting $1.47. 696,417 shares of the stock traded hands, compared to its average volume of 974,878. Lexicon Pharmaceuticals has a 1-year low of $1.13 and a 1-year high of $11.88. The company has a market capitalization of $158.34 million, a price-to-earnings ratio of -1.29 and a beta of 0.77. The company’s 50 day simple moving average is $4.38.
Lexicon Pharmaceuticals Company Profile
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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