Lexicon Pharmaceuticals (NASDAQ:LXRX) Reaches New 52-Week High – Should You Buy?

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) shares hit a new 52-week high during trading on Saturday . The stock traded as high as $2.55 and last traded at $2.55, with a volume of 39453795 shares. The stock had previously closed at $2.29.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $6.00 price objective on shares of Lexicon Pharmaceuticals in a report on Monday, March 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a research report on Thursday, June 18th. Finally, Citigroup lifted their price target on shares of Lexicon Pharmaceuticals from $2.30 to $3.10 and gave the stock a “buy” rating in a research note on Monday, May 11th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.55.

Lexicon Pharmaceuticals Stock Up 11.4%

The stock has a market cap of $1.13 billion, a PE ratio of -36.42 and a beta of 1.07. The business has a fifty day moving average of $2.00 and a 200-day moving average of $1.63. The company has a debt-to-equity ratio of 0.24, a current ratio of 18.80 and a quick ratio of 18.77.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.00) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.04. The business had revenue of $21.10 million during the quarter, compared to analyst estimates of $9.79 million. Lexicon Pharmaceuticals had a negative net margin of 37.46% and a negative return on equity of 18.64%. Equities research analysts anticipate that Lexicon Pharmaceuticals, Inc. will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. Hudson Bay Capital Management LP acquired a new position in Lexicon Pharmaceuticals during the second quarter worth $26,000. CTC Alternative Strategies Ltd. acquired a new stake in shares of Lexicon Pharmaceuticals in the first quarter valued at $27,000. Security National Bank of Sioux City Iowa IA acquired a new stake in shares of Lexicon Pharmaceuticals in the fourth quarter valued at $31,000. Leonteq Securities AG purchased a new stake in shares of Lexicon Pharmaceuticals in the 4th quarter valued at $34,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Lexicon Pharmaceuticals in the 4th quarter valued at $39,000. 74.70% of the stock is currently owned by institutional investors and hedge funds.

Lexicon Pharmaceuticals Company Profile

Lexicon Pharmaceuticals, Inc is a biopharmaceutical company focused on the discovery and development of novel medicines through its proprietary genome biology platform. By leveraging large-scale gene knockout libraries, the company identifies potential therapeutic targets and advances them through preclinical and clinical development. Lexicon’s approach emphasizes the translation of genetic insights into targeted therapies for a range of human diseases.

The company’s most advanced product is telotristat ethyl (sold under the brand name XERMELO), an oral treatment approved for the management of carcinoid syndrome diarrhea in patients inadequately controlled by somatostatin analog therapy.