Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a research report issued on Sunday. They currently have a $21.00 price target on the biopharmaceutical company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 69.77% from the company’s previous close.

A number of other analysts also recently commented on the company. Zacks Investment Research upgraded Lexicon Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. BidaskClub downgraded Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. ValuEngine upgraded Lexicon Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Cowen and Company reiterated a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Tuesday, August 1st. Finally, Wedbush reiterated an “ourperform” rating and set a $39.00 target price on shares of Lexicon Pharmaceuticals in a research report on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $27.00.

Lexicon Pharmaceuticals (LXRX) opened at 12.37 on Friday. The company has a 50-day moving average price of $14.62 and a 200 day moving average price of $15.32. Lexicon Pharmaceuticals has a 1-year low of $11.80 and a 1-year high of $19.62. The firm’s market capitalization is $1.31 billion.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.33) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.45) by $0.12. The company had revenue of $12.00 million for the quarter, compared to the consensus estimate of $18.34 million. Lexicon Pharmaceuticals had a negative return on equity of 94.87% and a negative net margin of 170.63%. Lexicon Pharmaceuticals’s quarterly revenue was down 40.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.37) earnings per share. Analysts expect that Lexicon Pharmaceuticals will post ($1.45) earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in LXRX. USS Investment Management Ltd acquired a new position in shares of Lexicon Pharmaceuticals in the second quarter worth $57,705,000. Pinnacle Associates Ltd. acquired a new position in shares of Lexicon Pharmaceuticals in the second quarter worth $11,759,000. Vanguard Group Inc. raised its holdings in shares of Lexicon Pharmaceuticals by 16.3% in the first quarter. Vanguard Group Inc. now owns 4,168,301 shares of the biopharmaceutical company’s stock worth $59,773,000 after acquiring an additional 585,222 shares during the last quarter. Highbridge Capital Management LLC acquired a new position in shares of Lexicon Pharmaceuticals in the first quarter worth $7,813,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of Lexicon Pharmaceuticals in the first quarter worth $5,485,000.

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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