HC Wainwright Reiterates “Buy” Rating for Lexicon Pharmaceuticals Inc. (LXRX)
Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research report issued to clients and investors on Tuesday. They presently have a $26.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s target price points to a potential upside of 57.48% from the company’s previous close.
LXRX has been the topic 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. Citigroup Inc. assumed coverage on Lexicon Pharmaceuticals in a research note on Tuesday, August 2nd. They issued a “buy” rating and a $21.00 price objective on the stock. Zacks Investment Research downgraded Lexicon Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, August 11th. Needham & Company LLC restated a “buy” rating and set a $21.00 target price on shares of Lexicon Pharmaceuticals in a research report on Monday, September 12th. Finally, Wedbush restated an “outperform” rating and set a $33.00 target price on shares of Lexicon Pharmaceuticals in a research report on Tuesday, September 20th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Lexicon Pharmaceuticals presently has an average rating of “Buy” and an average price target of $23.86.
Lexicon Pharmaceuticals (NASDAQ:LXRX) traded up 1.0896% during trading on Tuesday, reaching $16.6899. The company’s stock had a trading volume of 497,766 shares. The stock’s 50 day moving average is $17.42 and its 200 day moving average is $15.08. The company’s market cap is $1.73 billion. Lexicon Pharmaceuticals has a 12 month low of $7.65 and a 12 month high of $19.62.
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Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its quarterly earnings data 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 business 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. Lexicon Pharmaceuticals’s revenue for the quarter was up 5186.8% on a year-over-year basis. On average, equities analysts expect that Lexicon Pharmaceuticals will post ($1.54) EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Paradigm Asset Management Co. LLC purchased a new position in Lexicon Pharmaceuticals during the second quarter valued at $115,000. First Mercantile Trust Co. boosted 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 valued at $154,000 after buying an additional 900 shares during the last quarter. Alambic Investment Management L.P. purchased a new position in Lexicon Pharmaceuticals during the second quarter valued at $165,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in Lexicon Pharmaceuticals during the second quarter valued at $195,000. Finally, Quantbot Technologies LP boosted its position in Lexicon Pharmaceuticals by 12.3% in the second quarter. Quantbot Technologies LP now owns 13,999 shares of the biopharmaceutical company’s stock valued at $200,000 after buying an additional 1,529 shares during 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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