Lexicon Pharmaceuticals Inc. (LXRX) Research Coverage Started at HC Wainwright
Investment analysts at HC Wainwright initiated coverage on shares of Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX) in a report issued on Friday. The brokerage set a “buy” rating and a $26.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s target price would suggest a potential upside of 40.54% from the company’s current price.
Several other equities analysts also recently commented on the company. Zacks Investment Research raised Lexicon Pharmaceuticals from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Wednesday. Wedbush reissued an “outperform” rating and set a $33.00 price target on shares of Lexicon Pharmaceuticals in a research report on Tuesday, September 20th. Needham & Company LLC reissued a “buy” rating and set a $21.00 price target on shares of Lexicon Pharmaceuticals in a research report on Monday, September 12th. Citigroup Inc. increased their price target on Lexicon Pharmaceuticals from $21.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, September 12th. Finally, Cowen and Company reissued a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Friday, September 9th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Lexicon Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $23.86.
Shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) traded up 1.73% during trading on Friday, reaching $18.82. The company’s stock had a trading volume of 183,016 shares. The company’s market cap is $1.95 billion. The firm’s 50-day moving average is $16.86 and its 200 day moving average is $14.76. Lexicon Pharmaceuticals has a 52-week low of $7.65 and a 52-week high of $19.62.
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Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.04. Lexicon Pharmaceuticals had a negative return on equity of 9.03% and a negative net margin of 13.42%. The company had revenue of $20.10 million for the quarter, compared to the consensus estimate of $12.36 million. During the same quarter in the prior year, the business earned ($0.27) earnings per share. The firm’s revenue for the quarter was up 5186.8% on a year-over-year basis. On average, equities research analysts predict that Lexicon Pharmaceuticals will post ($1.54) EPS for the current fiscal year.
Several large investors have recently modified their holdings of LXRX. Vanguard Group Inc. increased its stake in shares of Lexicon Pharmaceuticals by 9.9% in the second quarter. Vanguard Group Inc. now owns 3,366,813 shares of the biopharmaceutical company’s stock worth $48,314,000 after buying an additional 302,929 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of Lexicon Pharmaceuticals by 0.9% in the second quarter. BlackRock Fund Advisors now owns 2,343,999 shares of the biopharmaceutical company’s stock worth $33,636,000 after buying an additional 21,886 shares in the last quarter. Eagle Asset Management Inc. increased its stake in shares of Lexicon Pharmaceuticals by 13.3% in the second quarter. Eagle Asset Management Inc. now owns 1,678,732 shares of the biopharmaceutical company’s stock worth $24,089,000 after buying an additional 196,759 shares in the last quarter. State Street Corp increased its stake in shares of Lexicon Pharmaceuticals by 6.1% in the second quarter. State Street Corp now owns 1,282,614 shares of the biopharmaceutical company’s stock worth $18,406,000 after buying an additional 73,235 shares in the last quarter. Finally, Bridger Management LLC acquired a new stake in shares of Lexicon Pharmaceuticals during the first quarter worth $12,308,000.
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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