Lexicon Pharmaceuticals, Inc. (LXRX) Expected to Announce Quarterly Sales of $17.98 Million
Equities analysts expect that Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) will report $17.98 million in sales for the current quarter, Zacks reports. Four analysts have provided estimates for Lexicon Pharmaceuticals’ earnings, with estimates ranging from $15.58 million to $19.7 million. Lexicon Pharmaceuticals reported sales of $20.09 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 10.5%. The firm is expected to report its next quarterly earnings results on Thursday, August 3rd.
On average, analysts expect that Lexicon Pharmaceuticals will report full year sales of $17.98 million for the current year, with estimates ranging from $81.69 million to $106.35 million. For the next fiscal year, analysts expect that the company will post sales of $151.52 million per share, with estimates ranging from $75.85 million to $228.78 million. Zacks’ sales averages are a mean average based on a survey of research firms that cover Lexicon Pharmaceuticals.
Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its quarterly earnings results on Friday, March 3rd. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.51) by $0.20. Lexicon Pharmaceuticals had a negative net margin of 11.87% and a negative return on equity of 9.46%. The company had revenue of $23 million during the quarter, compared to the consensus estimate of $15.56 million. During the same quarter in the prior year, the firm posted $0.76 EPS. The firm’s quarterly revenue was down 81.9% on a year-over-year basis.
Several equities research analysts have issued reports on LXRX shares. Zacks Investment Research lowered shares of Lexicon Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, January 17th. Needham & Company LLC reissued a “buy” rating on shares of Lexicon Pharmaceuticals in a research note on Friday, January 27th. Wedbush reissued an “outperform” rating and set a $33.00 price target on shares of Lexicon Pharmaceuticals in a research note on Wednesday, February 8th. HC Wainwright reissued a “buy” rating and set a $27.00 price target (up from $26.00) on shares of Lexicon Pharmaceuticals in a research note on Wednesday, March 1st. Finally, Citigroup Inc lifted their price target on shares of Lexicon Pharmaceuticals from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, March 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $26.67.
Several hedge funds and other institutional investors have recently modified their holdings of LXRX. Bank of New York Mellon Corp increased its position in shares of Lexicon Pharmaceuticals by 24.1% in the third quarter. Bank of New York Mellon Corp now owns 240,922 shares of the biopharmaceutical company’s stock valued at $4,353,000 after buying an additional 46,756 shares during the last quarter. Prudential Financial Inc. purchased a new position in shares of Lexicon Pharmaceuticals during the third quarter valued at approximately $895,000. BlackRock Advisors LLC increased its position in shares of Lexicon Pharmaceuticals by 484.2% in the third quarter. BlackRock Advisors LLC now owns 121,822 shares of the biopharmaceutical company’s stock valued at $2,201,000 after buying an additional 100,969 shares during the last quarter. BlackRock Inc. increased its position in shares of Lexicon Pharmaceuticals by 478.8% in the third quarter. BlackRock Inc. now owns 18,932 shares of the biopharmaceutical company’s stock valued at $342,000 after buying an additional 15,661 shares during the last quarter. Finally, BlackRock Fund Advisors increased its position in shares of Lexicon Pharmaceuticals by 5.3% in the third quarter. BlackRock Fund Advisors now owns 2,468,459 shares of the biopharmaceutical company’s stock valued at $44,605,000 after buying an additional 124,460 shares during the last quarter.
Shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) traded up 0.50% during mid-day trading on Friday, hitting $15.99. 210,592 shares of the stock were exchanged. The stock’s 50-day moving average is $14.91 and its 200-day moving average is $15.15. Lexicon Pharmaceuticals has a 52 week low of $11.52 and a 52 week high of $19.62. The stock’s market capitalization is $1.68 billion.
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About Lexicon Pharmaceuticals
Lexicon Pharmaceuticals, Inc is a biopharmaceutical company. The Company focuses on the development and commercialization of breakthrough treatments for human disease. Its drug programs include XERMELO (telotristat ethyl), sotagliflozin, LX2761 and LX9211. It also has a number of additional compounds into various stages of clinical and preclinical development.
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