Lexicon Pharmaceuticals Rating Lowered to Underweight at Morgan Stanley (LXRX)
Lexicon Pharmaceuticals (NASDAQ: LXRX) was downgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a note issued to investors on Tuesday, Analyst Ratings Network reports. They currently have a $1.50 price objective on the stock, down from their previous price objective of $2.00. Morgan Stanley’s price target would suggest a potential downside of 36.71% from the stock’s previous close.
The analysts wrote, “…we are updating our assumptions for LX4211. We have sig. lowered LX4211 sales/royalties based on our analysis inside. Despite adding LX1032 to our model and decr. long-term spending, the updates combine for a lower DCF value, yielding our UW rating.”
Lexicon Pharmaceuticals (NASDAQ: LXRX) opened at 2.37 on Tuesday. Lexicon Pharmaceuticals has a 52-week low of $1.45 and a 52-week high of $3.28. The stock’s 50-day moving average is currently $2.15. The company’s market cap is $1.216 billion.
Separately, analysts at Jefferies Group initiated coverage on shares of Lexicon Pharmaceuticals in a research note to investors on Wednesday, May 29th. They set a “buy” rating and a $3.50 price target on the stock.
Lexicon Pharmaceuticals, Inc. (NASDAQ: LXRX) is a biopharmaceutical company focused on the discovery and development of treatments for human disease.
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