Is Lexicon Pharmaceuticals Inc (NASDAQ: LXRX) Stock Ready For A Higher Run In Its Share Price?

In the last trading session, 1.42 million Lexicon Pharmaceuticals Inc (NASDAQ:LXRX) shares changed hands as the company’s beta touched 1.07. With the company’s per share price at $1.12 changed hands at $0.06 or 5.66% during last session, the market valuation stood at $274.32M. LXRX’s last price was a discount, traded about -238.39% off its 52-week high of $3.79. The share price had its 52-week low at $0.92, which suggests the last value was 17.86% up since then. When we look at Lexicon Pharmaceuticals Inc’s average trading volume, we note the 10-day average is 2.9 million shares, with the 3-month average coming to 2.38 million.

Analysts gave the Lexicon Pharmaceuticals Inc (LXRX) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.33. If we narrow down to specifics, the data shows that 0 out of 3 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 2 recommended LXRX as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. Lexicon Pharmaceuticals Inc’s EPS for the current quarter is expected to be -$0.2.

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Lexicon Pharmaceuticals Inc (NASDAQ:LXRX) trade information

Instantly LXRX was in green as seen at the end of in last trading. With action 10.89%, the performance over the past five days has been green. The jump to weekly highs of 1.2500 on Friday, 11/17/23 added 5.66% to the stock’s daily price. The company’s shares are showing year-to-date downside of -41.36%, with the 5-day performance at 10.89% in the green. However, in the 30-day time frame, Lexicon Pharmaceuticals Inc (NASDAQ:LXRX) is -3.03% down. Looking at the short shares, we see there were 21.98 million shares sold at short interest cover period of 6.92 days.

The consensus price target for the stock as assigned by Wall Street analysts is $5.73, meaning bulls need an upside of 80.45% from its current market value. According to analyst projections, LXRX’s forecast low is $1.45 with $10.00 as the target high. To hit the forecast high, the stock’s price needs a -792.86% plunge from its current level, while the stock would need to soar -29.46% for it to hit the projected low.

Lexicon Pharmaceuticals Inc (LXRX) estimates and forecasts

Data shows that the Lexicon Pharmaceuticals Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -62.79% over the past 6 months, a -30.65% in annual growth rate that is considerably lower than the industry average of 14.90%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Lexicon Pharmaceuticals Inc will fall -25.00%, while the growth in revenue is estimated to hit -23.50% for the next quarter. Year-over-year growth is forecast to reach 3,705.80% up from the last financial year.

Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of $4.79 million. 2 analysts are of the opinion that Lexicon Pharmaceuticals Inc’s revenue for the quarter ending Mar 2024 will be $6.33 million. The company’s revenue for the corresponding quarters a year ago was $28k and $24k respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 17,007.10%. The estimates for the next quarter sales put growth at 26,275.00%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 12.05%. The 2023 estimates are for Lexicon Pharmaceuticals Inc earnings to decrease by -29.03%.

LXRX Dividends

Lexicon Pharmaceuticals Inc is expected to release its next quarterly earnings report on November 08.

Lexicon Pharmaceuticals Inc (NASDAQ:LXRX)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.96% of Lexicon Pharmaceuticals Inc shares while 73.69% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 74.41%. There are 73.69% institutions holding the Lexicon Pharmaceuticals Inc stock share, with Artal Group S.A. the top institutional holder. As of Jun 29, 2023, the company held 48.00% of the shares, roughly 117.55 million LXRX shares worth $269.2 million.

BVF Inc. holds the second largest percentage of outstanding shares, with 8.16% or 20.0 million shares worth $45.79 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Fidelity Growth Company Fund. With 3.7 million shares estimated at $8.48 million under it, the former controlled 1.51% of total outstanding shares. On the other hand, Fidelity Growth Company Fund held about 1.03% of the shares, roughly 2.53 million shares worth around $4.35 million.

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