Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX)‘s stock had its “outperform” rating reaffirmed by equities researchers at Wedbush in a note issued to investors on Tuesday. They currently have a $33.00 price target on the biopharmaceutical company’s stock. Wedbush’s price objective points to a potential upside of 74.51% from the company’s previous close.

A number of other research firms have also recently weighed in on LXRX. Stifel Nicolaus upped their price objective on shares of Lexicon Pharmaceuticals from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. Citigroup Inc. upped their price objective on shares of Lexicon Pharmaceuticals from $21.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, September 12th. Zacks Investment Research upgraded shares of Lexicon Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 3rd. Needham & Company LLC restated a “buy” rating on shares of Lexicon Pharmaceuticals in a research report on Thursday, August 11th. Finally, Cowen and Company restated a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Friday, September 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $20.93.

Analyst Recommendations for Lexicon Pharmaceuticals (NASDAQ:LXRX)

Lexicon Pharmaceuticals (NASDAQ:LXRX) traded up 0.42% during trading on Tuesday, hitting $18.99. 111,265 shares of the company were exchanged. The company’s market capitalization is $1.97 billion. Lexicon Pharmaceuticals has a 12 month low of $7.65 and a 12 month high of $19.46. The stock’s 50-day moving average is $15.99 and its 200-day moving average is $14.14.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/lexicon-pharmaceuticals-lxrx-outperform-rating-reiterated-at-wedbush.html

Lexicon Pharmaceuticals (NASDAQ:LXRX) last announced its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.41) by $0.04. Lexicon Pharmaceuticals had a negative net margin of 13.42% and a negative return on equity of 9.03%. The firm had revenue of $20.10 million for the quarter, compared to the consensus estimate of $12.36 million. During the same period in the prior year, the firm posted ($0.27) earnings per share. The firm’s quarterly revenue was up 5186.8% compared to the same quarter last year. Equities research analysts anticipate that Lexicon Pharmaceuticals will post ($1.54) earnings per share for the current year.

Large investors have recently modified their holdings of the stock. Paradigm Asset Management Co. LLC purchased a new stake in Lexicon Pharmaceuticals during the second quarter valued at about $115,000. First Mercantile Trust Co. boosted its stake 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 valued at $154,000 after buying an additional 900 shares during the last quarter. Alambic Investment Management L.P. purchased a new stake in Lexicon Pharmaceuticals during the second quarter valued at about $165,000. BlackRock Group LTD boosted its stake in Lexicon Pharmaceuticals by 56.9% in the first quarter. BlackRock Group LTD now owns 14,217 shares of the biopharmaceutical company’s stock valued at $170,000 after buying an additional 5,158 shares during the last quarter. Finally, A.R.T. Advisors LLC purchased a new stake in Lexicon Pharmaceuticals during the first quarter valued at about $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.

5 Day Chart for NASDAQ:LXRX

Receive News & Ratings for Lexicon Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lexicon Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.