Lexicon Pharmaceuticals Inc. (LXRX) Earns “Outperform” Rating from Wedbush
Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX)‘s stock had its “outperform” rating restated by stock analysts at Wedbush in a note issued to investors on Tuesday. They presently have a $33.00 price objective on the biopharmaceutical company’s stock. Wedbush’s price target would indicate a potential upside of 74.51% from the stock’s previous close.
LXRX has been the subject of several other research reports. Cowen and Company reiterated a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Friday, September 9th. Zacks Investment Research lowered shares of Lexicon Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, July 6th. Needham & Company LLC reiterated a “buy” rating on shares of Lexicon Pharmaceuticals in a research note on Thursday, August 11th. Citigroup Inc. assumed coverage on shares of Lexicon Pharmaceuticals in a research report on Tuesday, August 2nd. They issued a “buy” rating and a $21.00 price target for the company. Finally, Stifel Nicolaus lifted their price target on shares of Lexicon Pharmaceuticals from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $20.93.
Shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) traded up 0.42% during trading on Tuesday, hitting $18.99. 80,240 shares of the stock traded hands. The stock has a 50 day moving average price of $15.99 and a 200-day moving average price of $14.14. Lexicon Pharmaceuticals has a 1-year low of $7.65 and a 1-year high of $19.46. The stock’s market cap is $1.97 billion.
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Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.04. The company earned $20.10 million during the quarter, compared to analyst estimates of $12.36 million. Lexicon Pharmaceuticals had a negative net margin of 13.42% and a negative return on equity of 9.03%. Lexicon Pharmaceuticals’s revenue for the quarter was up 5186.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.27) EPS. Equities analysts forecast that Lexicon Pharmaceuticals will post ($1.54) EPS for the current year.
A number of institutional investors have recently bought and sold shares of the company. Paradigm Asset Management Co. LLC purchased a new position in Lexicon Pharmaceuticals during the second quarter worth about $115,000. First Mercantile Trust Co. increased its position in Lexicon Pharmaceuticals by 9.2% in the second quarter. First Mercantile Trust Co. now owns 10,700 shares of the biopharmaceutical company’s stock worth $154,000 after buying an additional 900 shares in the last quarter. Alambic Investment Management L.P. bought a new position in shares of Lexicon Pharmaceuticals during the second quarter worth $165,000. BlackRock Group LTD increased its position in shares of Lexicon Pharmaceuticals by 56.9% in the first quarter. BlackRock Group LTD now owns 14,217 shares of the biopharmaceutical company’s stock worth $170,000 after buying an additional 5,158 shares during the period. Finally, A.R.T. Advisors LLC bought a new position in shares of Lexicon Pharmaceuticals during the first quarter worth $174,000.
About Lexicon Pharmaceuticals
Lexicon Pharmaceuticals, Inc (Lexicon) is a biopharmaceutical company. The Company focuses on the development of treatments for human disease. The Company is engaged in the development of two drug candidates: telotristat etiprate (LX1032) and sotagliflozin (LX4211). The Company’s telotristat etiprate, is an orally delivered small molecule drug candidate, as a treatment for carcinoid syndrome.
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