Zacks Investment Research Downgrades Lexicon Pharmaceuticals Inc. (LXRX) to Hold
Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.
According to Zacks, “Lexicon Genetics Incorporated is a leader in defining the functions of genes for drug discovery using large-scale knockout mouse technology. Lexicon has invented high-throughput gene trapping technology to discover thousands of genes and expand its OmniBank library of tens of thousands of mouse clones. The Company uses an integrated platform of functional genomic technologies to accelerate large-scale analysis of mammalian gene function for drug discovery. “
A number of other equities analysts have also recently commented on the company. HC Wainwright began coverage on Lexicon Pharmaceuticals in a report on Friday, October 7th. They set a “buy” rating and a $26.00 target price for the company. Wedbush reaffirmed an “outperform” rating and issued a $33.00 price target on shares of Lexicon Pharmaceuticals in a research report on Tuesday, September 20th. Needham & Company LLC reaffirmed a “buy” rating and issued 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 company a “buy” rating in a research report on Monday, September 12th. Finally, Cowen and Company reaffirmed a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Friday, September 9th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $23.86.
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Lexicon Pharmaceuticals (NASDAQ:LXRX) traded down 1.97% during mid-day trading on Thursday, hitting $17.43. The company had a trading volume of 809,531 shares. Lexicon Pharmaceuticals has a 52-week low of $7.65 and a 52-week high of $19.62. The company’s market capitalization is $1.81 billion. The company has a 50-day moving average price of $17.29 and a 200 day moving average price of $14.97.
Lexicon Pharmaceuticals (NASDAQ:LXRX) last announced its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates 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 earned $20.10 million during the quarter, compared to analysts’ expectations of $12.36 million. During the same period last year, the business posted ($0.27) EPS. Lexicon Pharmaceuticals’s revenue for the quarter was up 5186.8% on a year-over-year basis. On average, analysts forecast that Lexicon Pharmaceuticals will post ($1.54) EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Fund Advisors increased its position in shares of Lexicon Pharmaceuticals by 5.9% in the first quarter. BlackRock Fund Advisors now owns 2,322,113 shares of the biopharmaceutical company’s stock worth $27,749,000 after buying an additional 129,969 shares in the last quarter. 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 in the last quarter. Pacad Investment Ltd. acquired a new position in shares of Lexicon Pharmaceuticals during the first quarter worth approximately $670,000. QS Investors LLC acquired a new position in shares of Lexicon Pharmaceuticals during the fourth quarter worth approximately $1,318,000. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Lexicon Pharmaceuticals by 3.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 149,093 shares of the biopharmaceutical company’s stock worth $1,985,000 after buying an additional 4,338 shares in the last quarter.
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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