BlackRock Fund Advisors recently announced the acquisition of new stake in Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX). The institutional investor has increased its shareholding in the Healthcare company by 4.83% to 3.89 million shares with purchase of 0.18 million shares. This fresh investment now brings its stake to 3.63% valued currently at $7.55 million. In addition, Morgan Stanley & Co. LLC raised its holdings by 1.86 million to 2.01 million shares. And Renaissance Technologies LLC has lifted its position by 12.82% or 0.21 million shares – to 1.88 million shares.
With over 1.1 million Lexicon Pharmaceuticals Inc. (LXRX) shares trading Tuesday and a closing price of $1.75 on the day, the dollar volume was approximately $1.92 million. The shares have shown a negative weekly performance of -2.78% and its price on 09/01/20 lost nearly 0.00%. Currently, there are 107.07M common shares owned by the public and among those 101.51M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for LXRX have a consensus price objective of $2.70. The analysts have set the share’s price value over the next 12 months at a high of $3.00 and a low of $2.10 should the stock experience a downside. Incidentally, analysts’ outlook for the Lexicon Pharmaceuticals Inc. stock is 2.60 for the next 12 months. The average price target is 35.19% above its last price level and an upside to the estimated low will see the stock gain 16.67% over that period. But an upside of 41.67% will see the stock hit the forecast high price target while mean target price for the stock is $3.00.
Insiders at the company have transacted a total of 173 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 159 of these insider trades were purchases, accounting for 1,043,354 shares. Insider sales of the common stock occurred on 14 occasions, with total insider shares sold totaling 156,000 shares.
The top 3 mutual fund holders in Lexicon Pharmaceuticals Inc. are Fidelity Growth Company Fund, Vanguard Total Stock Market Index, and iShares NASDAQ Biotechnology ETF. Fidelity Growth Company Fund owns 4.86 million shares of the company’s stock, all valued at over $9.43 million. The company sold -0.15 million shares recently to bring their total holdings to about 4.54% of the shares outstanding. Vanguard Total Stock Market Index bought 0.58 million shares to see its total holdings expand to 2.07 million shares valued at over $4.01 million and representing 1.93% of the shares outstanding. iShares NASDAQ Biotechnology ETF sold 8657.0 shares to bring its total holdings to over 1.12 million shares at a value of $2.18 million. iShares NASDAQ Biotechnology ETF now owns shares totaling to 1.05% of the shares outstanding.
Shares of Lexicon Pharmaceuticals Inc. (NASDAQ: LXRX) opened at $1.73, down -$0.02 from a prior closing price of $1.75. However, the script later closed the day at $1.75, down 0.00%. The company’s stock has a 5-day price change of -2.78% and -7.41% over the past three months. LXRX shares are trading -57.83% year to date (YTD), with the 12-month market performance up to 35.66% higher. It has a 12-month low price of $1.22 and touched a high of $5.33 over the same period. Currently, 1.1 million shares have been traded, compared to an average intraday trading volume of 1.72 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -4.32%, -7.73%, and -32.90% respectively.
Institutional ownership of Lexicon Pharmaceuticals Inc. (NASDAQ: LXRX) 107.07M shares outstanding. Mutual fund holders own 65.76%, while other institutional holders and individual stakeholders account for 81.63% and 17.82% respectively.
It has a market capitalization of $189.58M and a beta (3y monthly) value of 1.35. The stock’s trailing 12-month PE ratio is 9.36, while the earnings-per-share (ttm) stands at $0.19. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.62% over the week and 4.07% over the month.
Analysts forecast that Lexicon Pharmaceuticals Inc. (LXRX) will achieve an EPS of $0.04 for the current quarter, -$0.4 for the next quarter and -$1.13 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.49 while analysts give the company a high EPS estimate of $0.97. Comparatively, EPS for the current quarter was $1.95 a year ago. Earnings per share for the fiscal year are expected to increase by 197.90%, and 35.80% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate Lexicon Pharmaceuticals Inc. (LXRX) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 4 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the LXRX, a number of firms have released research notes about the stock. Gabelli & Co stated their Hold rating for the stock in a research note on December 11, 2019, with the firm’s price target at. Citigroup coverage for the Lexicon Pharmaceuticals Inc. (LXRX) stock in a research note released on November 08, 2019 offered a Neutral rating with a price target of $4. Gabelli & Co was of a view on September 11, 2019 that the stock is Buy, while Stifel gave the stock Hold rating on July 29, 2019, issuing a price target of $10- $4. Gabelli & Co on their part issued Hold rating on March 25, 2019.