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.

WARNING: This story was first posted by American Banking News and is the sole property of of American Banking News. If you are viewing this story on another site, it was illegally copied and reposted in violation of U.S. and international copyright laws. The correct version of this story can be viewed at https://www.americanbankingnews.com/2017/05/12/lexicon-pharmaceuticals-inc-lxrx-expected-to-announce-quarterly-sales-of-17-98-million.html.

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.

5 Day Chart for NASDAQ:LXRX

Get a free copy of the Zacks research report on Lexicon Pharmaceuticals (LXRX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Lexicon Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lexicon Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.