Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) Expected to Post Quarterly Sales of $13.62 Million

Wall Street analysts forecast that Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) will post $13.62 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Lexicon Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $8.32 million and the highest estimate coming in at $19.38 million. Lexicon Pharmaceuticals reported sales of $17.07 million in the same quarter last year, which would suggest a negative year over year growth rate of 20.2%. The business is expected to report its next earnings report on Wednesday, March 11th.

According to Zacks, analysts expect that Lexicon Pharmaceuticals will report full-year sales of $45.86 million for the current financial year, with estimates ranging from $35.25 million to $56.46 million. For the next financial year, analysts expect that the business will post sales of $97.66 million, with estimates ranging from $63.46 million to $134.46 million. Zacks’ sales averages are an average based on a survey of analysts that follow Lexicon Pharmaceuticals.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its earnings results on Thursday, November 7th. The biopharmaceutical company reported $2.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.80. The company had revenue of $294.45 million during the quarter, compared to analyst estimates of $12.00 million. During the same quarter last year, the firm posted ($0.26) earnings per share. The firm’s revenue for the quarter was up 4124.5% compared to the same quarter last year.

LXRX has been the topic of a number of recent analyst reports. Citigroup lowered Lexicon Pharmaceuticals from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $3.00 to $4.00 in a research note on Friday. Gabelli raised Lexicon Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.00 price objective on the stock in a research note on Wednesday, September 11th. ValuEngine raised Lexicon Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus lowered Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $10.00 to $4.00 in a research note on Monday, July 29th. Finally, G.Research raised Lexicon Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. Lexicon Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $6.45.

In other news, Director Christopher J. Sobecki purchased 25,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were acquired at an average price of $2.55 per share, with a total value of $63,750.00. Following the completion of the purchase, the director now directly owns 112,493 shares of the company’s stock, valued at approximately $286,857.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lonnel Coats purchased 40,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were purchased at an average cost of $1.35 per share, for a total transaction of $54,000.00. Following the purchase, the insider now directly owns 87,695 shares of the company’s stock, valued at $118,388.25. The disclosure for this purchase can be found here. In the last three months, insiders acquired 255,749 shares of company stock worth $578,510. Insiders own 6.40% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Commonwealth Equity Services LLC lifted its stake in shares of Lexicon Pharmaceuticals by 40.5% during the third quarter. Commonwealth Equity Services LLC now owns 16,461 shares of the biopharmaceutical company’s stock valued at $49,000 after acquiring an additional 4,746 shares during the period. Quantitative Systematic Strategies LLC lifted its stake in shares of Lexicon Pharmaceuticals by 67.2% during the second quarter. Quantitative Systematic Strategies LLC now owns 20,648 shares of the biopharmaceutical company’s stock valued at $130,000 after acquiring an additional 8,302 shares during the period. Swiss National Bank lifted its stake in shares of Lexicon Pharmaceuticals by 18.3% during the second quarter. Swiss National Bank now owns 88,614 shares of the biopharmaceutical company’s stock valued at $557,000 after acquiring an additional 13,700 shares during the period. Trexquant Investment LP acquired a new position in shares of Lexicon Pharmaceuticals during the second quarter valued at $92,000. Finally, Voloridge Investment Management LLC acquired a new position in shares of Lexicon Pharmaceuticals during the second quarter valued at $105,000. 99.06% of the stock is currently owned by institutional investors and hedge funds.

LXRX traded down $0.36 on Wednesday, hitting $3.52. The company had a trading volume of 1,316,800 shares, compared to its average volume of 1,292,482. The company’s fifty day moving average price is $3.52 and its 200 day moving average price is $4.21. Lexicon Pharmaceuticals has a 1-year low of $1.13 and a 1-year high of $9.15. The stock has a market cap of $419.77 million, a price-to-earnings ratio of -3.09 and a beta of 0.95.

Lexicon Pharmaceuticals Company Profile

Lexicon Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of pharmaceutical products. The company offers XERMELO, an orally-delivered small molecule drug candidate for the treatment of carcinoid syndrome diarrhea in combination with somatostatin analog therapy in adults.

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