Wedbush Reaffirms Ourperform Rating for Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)
Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)‘s stock had its “ourperform” rating reissued by Wedbush in a research report issued to clients and investors on Monday. They presently have a $39.00 price target on the biopharmaceutical company’s stock. Wedbush’s price target indicates a potential upside of 148.57% from the company’s current price.
Several other equities analysts also recently issued reports on the stock. BidaskClub downgraded shares of Lexicon Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Cowen and Company reissued a “hold” rating on shares of Lexicon Pharmaceuticals in a report on Tuesday, August 1st. Zacks Investment Research raised shares of Lexicon Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. ValuEngine raised shares of Lexicon Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Finally, HC Wainwright set a $27.00 price target on shares of Lexicon Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, May 3rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Lexicon Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $27.00.
Lexicon Pharmaceuticals (NASDAQ:LXRX) traded down 0.89% on Monday, reaching $15.55. 151,692 shares of the company’s stock traded hands. The firm’s 50-day moving average is $16.60 and its 200 day moving average is $15.38. The stock’s market capitalization is $1.64 billion. Lexicon Pharmaceuticals has a 52-week low of $13.41 and a 52-week high of $19.62.
Lexicon Pharmaceuticals (NASDAQ:LXRX) last announced its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.12. Lexicon Pharmaceuticals had a negative net margin of 170.63% and a negative return on equity of 94.87%. The firm had revenue of $12 million during the quarter, compared to the consensus estimate of $18.34 million. During the same period last year, the firm posted ($0.37) EPS. The firm’s quarterly revenue was down 40.3% on a year-over-year basis. Analysts forecast that Lexicon Pharmaceuticals will post ($1.49) EPS for the current year.
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Institutional investors have recently made changes to their positions in the company. First Mercantile Trust Co. increased its position in shares of Lexicon Pharmaceuticals by 9.2% in the second quarter. First Mercantile Trust Co. now owns 10,700 shares of the biopharmaceutical company’s stock worth $154,000 after buying an additional 900 shares in the last quarter. Alambic Investment Management L.P. bought a new position in shares of Lexicon Pharmaceuticals during the second quarter worth $165,000. C WorldWide Group Holding A S increased its position in shares of Lexicon Pharmaceuticals by 2.5% in the first quarter. C WorldWide Group Holding A S now owns 11,677 shares of the biopharmaceutical company’s stock worth $167,000 after buying an additional 280 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. Finally, A.R.T. Advisors LLC bought a new position in shares of Lexicon Pharmaceuticals during the first quarter worth $174,000.
About Lexicon Pharmaceuticals
Lexicon Pharmaceuticals, Inc is a biopharmaceutical company. The Company focuses on the development and commercialization of breakthrough treatments for human disease. Its drug programs include XERMELO (telotristat ethyl), sotagliflozin, LX2761 and LX9211. It also has a number of additional compounds into various stages of clinical and preclinical development.
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