Research Analysts Issue Forecasts for LXRX FY2024 Earnings

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) – Equities researchers at HC Wainwright cut their FY2024 earnings per share (EPS) estimates for Lexicon Pharmaceuticals in a report issued on Wednesday, November 13th. HC Wainwright analyst J. Pantginis now forecasts that the biopharmaceutical company will post earnings of ($0.76) per share for the year, down from their prior forecast of ($0.73). HC Wainwright currently has a “Buy” rating and a $6.00 target price on the stock. The consensus estimate for Lexicon Pharmaceuticals’ current full-year earnings is ($0.69) per share. HC Wainwright also issued estimates for Lexicon Pharmaceuticals’ Q4 2024 earnings at ($0.15) EPS, FY2025 earnings at ($0.60) EPS and FY2026 earnings at ($0.47) EPS.

LXRX has been the subject of a number of other reports. Leerink Partners set a $6.00 target price on shares of Lexicon Pharmaceuticals and gave the company an “outperform” rating in a research report on Friday, October 18th. Needham & Company LLC reissued a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Wednesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lexicon Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $6.00.

Lexicon Pharmaceuticals Trading Down 8.0 %

Shares of LXRX stock opened at $0.98 on Friday. Lexicon Pharmaceuticals has a fifty-two week low of $0.97 and a fifty-two week high of $3.73. The company has a debt-to-equity ratio of 0.41, a quick ratio of 11.49 and a current ratio of 11.51. The stock’s fifty day moving average is $1.63 and its two-hundred day moving average is $1.74. The firm has a market capitalization of $240.13 million, a P/E ratio of -1.36 and a beta of 1.24.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. FMR LLC lifted its stake in shares of Lexicon Pharmaceuticals by 28.9% in the 3rd quarter. FMR LLC now owns 49,867,042 shares of the biopharmaceutical company’s stock valued at $78,291,000 after purchasing an additional 11,179,919 shares during the last quarter. Vanguard Group Inc. boosted its stake in Lexicon Pharmaceuticals by 7.0% during the first quarter. Vanguard Group Inc. now owns 6,401,225 shares of the biopharmaceutical company’s stock worth $15,363,000 after buying an additional 420,854 shares during the period. Point72 Asset Management L.P. increased its position in shares of Lexicon Pharmaceuticals by 605.2% during the second quarter. Point72 Asset Management L.P. now owns 4,121,191 shares of the biopharmaceutical company’s stock valued at $6,924,000 after acquiring an additional 3,536,805 shares during the last quarter. State Street Corp raised its stake in shares of Lexicon Pharmaceuticals by 6.8% in the 3rd quarter. State Street Corp now owns 2,471,215 shares of the biopharmaceutical company’s stock valued at $3,880,000 after acquiring an additional 157,738 shares during the period. Finally, Nantahala Capital Management LLC acquired a new position in shares of Lexicon Pharmaceuticals in the 2nd quarter worth approximately $3,871,000. 74.70% of the stock is currently owned by institutional investors and hedge funds.

Lexicon Pharmaceuticals Company Profile

Lexicon Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of pharmaceutical products. Its orally-delivered small molecule drug candidates under development comprise Sotagliflozin that completed Phase III clinical trials for the for the treatment of heart failure and type 1 diabetes; and LX9211, which is in Phase II clinical development for the treatment of neuropathic pain and LX2761, which is in Phase I clinical development for gastrointestinal tract.