Lexicon Pharmaceuticals, Inc. (LXRX) Given Outperform Rating at Wedbush
Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)‘s stock had its “outperform” rating reaffirmed by analysts at Wedbush in a report released on Thursday.
LXRX has been the subject of a number of other reports. BidaskClub downgraded Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. Needham & Company LLC reiterated a “buy” rating and set a $21.00 price objective on shares of Lexicon Pharmaceuticals in a research note on Sunday, September 17th. ValuEngine upgraded Lexicon Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Cowen and Company reiterated a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Tuesday, August 1st. Finally, Zacks Investment Research downgraded Lexicon Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Lexicon Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $28.75.
Shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) traded down 2.04% during midday trading on Thursday, hitting $12.03. 423,835 shares of the stock were exchanged. The stock’s market cap is $1.27 billion. The firm’s 50 day moving average price is $13.53 and its 200-day moving average price is $15.00. Lexicon Pharmaceuticals has a 52-week low of $11.62 and a 52-week high of $19.50.
Lexicon Pharmaceuticals (NASDAQ:LXRX) last announced its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.45) by $0.12. The company had revenue of $12.00 million during 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%. The firm’s revenue was down 40.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.37) EPS. On average, equities research analysts expect that Lexicon Pharmaceuticals will post ($1.46) earnings per share for the current fiscal year.
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In other Lexicon Pharmaceuticals news, insider Lonnel Coats purchased 30,000 shares of the company’s stock in a transaction on Friday, September 15th. The stock was acquired at an average cost of $12.54 per share, for a total transaction of $376,200.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 5.77% of the company’s stock.
A number of hedge funds have recently bought and sold shares of LXRX. USS Investment Management Ltd bought a new position in Lexicon Pharmaceuticals in the 2nd quarter worth approximately $57,705,000. Pinnacle Associates Ltd. bought a new position in Lexicon Pharmaceuticals in the 2nd quarter worth approximately $11,759,000. Vanguard Group Inc. boosted its stake in Lexicon Pharmaceuticals by 16.3% in the 1st quarter. Vanguard Group Inc. now owns 4,168,301 shares of the biopharmaceutical company’s stock worth $59,773,000 after purchasing an additional 585,222 shares during the period. Highbridge Capital Management LLC bought a new position in Lexicon Pharmaceuticals in the 1st quarter worth approximately $7,813,000. Finally, Point72 Asset Management L.P. bought a new position in Lexicon Pharmaceuticals in the 1st quarter worth approximately $5,485,000.
Lexicon Pharmaceuticals Company Profile
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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