The Vanguard Group, Inc. 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 0.01% to 5.13 million shares with purchase of 522.0 shares. This fresh investment now brings its stake to 2.72% valued currently at $12.27 million. In addition, D. E. Shaw & Co. LP raised its holdings by 33996.0 to 3.08 million shares. And Pinnacle Associates Ltd. has lifted its position by 0.39% or 7447.0 shares – to 1.94 million shares.
With over 1.8 million Lexicon Pharmaceuticals Inc. (LXRX) shares trading Tuesday and a closing price of $3.06 on the day, the dollar volume was approximately $5.51 million. The shares have shown a positive half year performance of 37.84% and its price on 05/23/23 lost nearly -4.67%. Currently, there are 189.01M common shares owned by the public and among those 186.84M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for LXRX have a consensus price objective of $6.33. The analysts have set the share’s price value over the next 12 months at a high of $10.00 and a low of $3.00. The average price target is 51.66% above its recent price level and a downside to the estimated low will see the stock lose -2.0% over that period. But an upside of 69.4% will see the stock hit the forecast high price target while median target price for the stock is $6.00.
Insiders at the company have transacted a total of 37 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 28 of these insider trades were purchases, accounting for 21,276,068 shares. Insider sales of the common stock occurred on 9 occasions, with total insider shares sold totaling 178,167 shares.
The top 3 mutual fund holders in Lexicon Pharmaceuticals Inc. are Vanguard Total Stock Market ETF, Fidelity Growth Company Fund, and iShares Russell 2000 ETF. Vanguard Total Stock Market ETF owns 2.72 million shares of the company’s stock, all valued at over $6.5 million. Fidelity Growth Company Fund sold 23236.0 shares to see its total holdings shrink to 1.75 million shares valued at over $4.18 million and representing 0.93% of the shares outstanding. iShares Russell 2000 ETF sold 24640.0 shares to bring its total holdings to over 1.68 million shares at a value of $4.03 million. iShares Russell 2000 ETF now owns shares totaling to 0.89% of the shares outstanding.
Shares of Lexicon Pharmaceuticals Inc. (NASDAQ: LXRX) opened at $3.23, up $0.02 from a prior closing price of $3.21. However, the script later moved the day high at 3.3000, down -4.67%. The company’s stock has a 5-day price change of 4.44% and 29.66% over the past three months. LXRX shares are trading 60.21% year to date (YTD), with the 12-month market performance up to 72.88% higher. It has a 12-month low price of $1.31 and touched a high of $3.79 over the same period. LXRX has an average intraday trading volume of 750.23K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 7.42%, 19.37%, and 27.61% respectively.
Institutional ownership of Lexicon Pharmaceuticals Inc. (NASDAQ: LXRX) shares accounts for 82.30% of the company’s 189.01M shares outstanding. Mutual fund holders own 51.27%, while other institutional holders and individual stakeholders account for 66.94% and 10.12% respectively.
It has a market capitalization of $556.89M and a beta (3y monthly) value of 1.27. The earnings-per-share (ttm) stands at -$0.63. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.12% over the week and 8.48% over the month.
Analysts forecast that Lexicon Pharmaceuticals Inc. (LXRX) will achieve an EPS of -$0.18 for the current quarter, -$0.16 for the next quarter and -$0.44 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.19 while analysts give the company a high EPS estimate of -$0.17. Comparatively, EPS for the current quarter was -$0.16 a year ago. Earnings per share for the fiscal year are expected to decrease by -2.10%, and 32.30% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Lexicon Pharmaceuticals Inc. (LXRX) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 2 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
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