HC Wainwright Has Bearish Estimate for LXRX FY2024 Earnings

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) – Stock analysts at HC Wainwright cut their FY2024 earnings per share estimates for Lexicon Pharmaceuticals in a research report issued to clients and investors on Wednesday, November 13th. HC Wainwright analyst J. Pantginis now anticipates that the biopharmaceutical company will post earnings per share of ($0.76) for the year, down from their previous estimate of ($0.73). HC Wainwright currently has a “Buy” rating and a $6.00 price target 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.

Several other research firms have also recently weighed in on LXRX. Leerink Partners set a $6.00 target price on shares of Lexicon Pharmaceuticals and gave the company an “outperform” rating in a research note on Friday, October 18th. Needham & Company LLC restated a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.00.

Lexicon Pharmaceuticals Price Performance

Shares of LXRX opened at $1.06 on Friday. The company has a quick ratio of 11.49, a current ratio of 11.51 and a debt-to-equity ratio of 0.41. Lexicon Pharmaceuticals has a 1 year low of $1.01 and a 1 year high of $3.73. The company has a 50 day simple moving average of $1.64 and a two-hundred day simple moving average of $1.74.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Large investors have recently bought and sold shares of the business. FMR LLC lifted its position in Lexicon Pharmaceuticals by 28.9% during the third 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. Point72 Asset Management L.P. lifted its holdings in shares of Lexicon Pharmaceuticals by 605.2% in the 2nd 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. Nantahala Capital Management LLC purchased a new position in Lexicon Pharmaceuticals in the second quarter worth about $3,871,000. Marshall Wace LLP increased its stake in Lexicon Pharmaceuticals by 138.5% during the second quarter. Marshall Wace LLP now owns 1,190,448 shares of the biopharmaceutical company’s stock worth $2,000,000 after acquiring an additional 691,276 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. purchased a new stake in Lexicon Pharmaceuticals during the second quarter valued at approximately $912,000. Institutional investors own 74.70% of the company’s stock.

About Lexicon Pharmaceuticals

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.