Lexicon Pharmaceuticals’ (LXRX) “Outperform” Rating Reiterated at Wedbush
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.
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.
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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.
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