Analysts Offer Predictions for Lexicon Pharmaceuticals, Inc.’s Q1 2024 Earnings (NASDAQ:LXRX)

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) – Leerink Partnrs issued their Q1 2024 earnings estimates for shares of Lexicon Pharmaceuticals in a research note issued to investors on Tuesday, April 30th. Leerink Partnrs analyst R. Ruiz forecasts that the biopharmaceutical company will post earnings of ($0.13) per share for the quarter. Leerink Partnrs currently has a “Outperform” rating on the stock. The consensus estimate for Lexicon Pharmaceuticals’ current full-year earnings is ($0.66) per share. Leerink Partnrs also issued estimates for Lexicon Pharmaceuticals’ Q2 2024 earnings at ($0.13) EPS, Q3 2024 earnings at ($0.13) EPS, Q4 2024 earnings at ($0.16) EPS, FY2024 earnings at ($0.55) EPS, FY2025 earnings at ($0.50) EPS, FY2026 earnings at ($0.24) EPS and FY2027 earnings at $0.07 EPS.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its quarterly earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.03. The company had revenue of $0.70 million for the quarter, compared to analyst estimates of $0.68 million. Lexicon Pharmaceuticals had a negative return on equity of 138.54% and a negative net margin of 14,573.20%.

Other equities analysts also recently issued reports about the stock. SVB Leerink started coverage on shares of Lexicon Pharmaceuticals in a report on Tuesday. They set an “outperform” rating and a $5.00 price target on the stock. Needham & Company LLC restated a “hold” rating on shares of Lexicon Pharmaceuticals in a report on Friday. Finally, StockNews.com upgraded Lexicon Pharmaceuticals to a “sell” rating in a research note on Wednesday.

Lexicon Pharmaceuticals Trading Up 2.4 %

Shares of LXRX opened at $1.74 on Thursday. The company’s fifty day simple moving average is $2.12 and its 200-day simple moving average is $1.74. The company has a market cap of $428.46 million, a P/E ratio of -2.17 and a beta of 1.38. The company has a current ratio of 5.60, a quick ratio of 5.58 and a debt-to-equity ratio of 1.07. Lexicon Pharmaceuticals has a twelve month low of $0.92 and a twelve month high of $3.79.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of LXRX. Victory Capital Management Inc. grew its stake in shares of Lexicon Pharmaceuticals by 22.0% during the 4th quarter. Victory Capital Management Inc. now owns 32,187 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 5,813 shares during the period. Swiss National Bank lifted its position in Lexicon Pharmaceuticals by 4.4% during the third quarter. Swiss National Bank now owns 242,300 shares of the biopharmaceutical company’s stock worth $264,000 after buying an additional 10,300 shares in the last quarter. Cantor Fitzgerald L. P. acquired a new position in Lexicon Pharmaceuticals during the fourth quarter worth $25,000. Pinnacle Associates Ltd. grew its holdings in Lexicon Pharmaceuticals by 1.0% in the 1st quarter. Pinnacle Associates Ltd. now owns 1,747,830 shares of the biopharmaceutical company’s stock valued at $4,195,000 after buying an additional 17,009 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its stake in shares of Lexicon Pharmaceuticals by 65.7% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 46,930 shares of the biopharmaceutical company’s stock worth $113,000 after acquiring an additional 18,601 shares during the last quarter. 74.70% of the stock is owned by hedge funds and other institutional investors.

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.