Lexicon Pharmaceuticals Inc. (LXRX) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX) from a hold rating to a buy rating in a research report report published on Wednesday. The brokerage currently has $20.00 price objective on the biopharmaceutical company’s stock.
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. “
LXRX has been the topic of a number of other reports. Wedbush reissued an outperform rating and set a $33.00 price objective on shares of Lexicon Pharmaceuticals in a research report on Tuesday, September 20th. Cowen and Company reissued a hold rating on shares of Lexicon Pharmaceuticals in a research report on Friday, September 9th. Needham & Company LLC reissued a buy rating on shares of Lexicon Pharmaceuticals in a research report on Thursday, August 11th. Citigroup Inc. started coverage on shares of Lexicon Pharmaceuticals in a research report on Tuesday, August 2nd. They set a buy rating and a $21.00 price objective on the stock. Finally, Stifel Nicolaus boosted their price objective on shares of Lexicon Pharmaceuticals from $25.00 to $26.00 and gave the company a buy rating in a research report on Friday, August 5th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $23.50.
Shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) traded up 0.43% on Wednesday, reaching $18.51. 152,254 shares of the company traded hands. The stock’s market capitalization is $1.92 billion. Lexicon Pharmaceuticals has a one year low of $7.65 and a one year high of $19.62. The stock’s 50 day moving average price is $16.77 and its 200-day moving average price is $14.73.
Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.41) by $0.04. The business had revenue of $20.10 million for the quarter, compared to the consensus estimate of $12.36 million. Lexicon Pharmaceuticals had a negative net margin of 13.42% and a negative return on equity of 9.03%. The company’s quarterly revenue was up 5186.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.27) EPS. Equities analysts forecast that Lexicon Pharmaceuticals will post ($1.54) earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. Pacad Investment Ltd. purchased a new position in shares of Lexicon Pharmaceuticals during the first quarter worth about $670,000. BlackRock Fund Advisors boosted its position in Lexicon Pharmaceuticals by 5.9% in the first quarter. BlackRock Fund Advisors now owns 2,322,113 shares of the biopharmaceutical company’s stock valued at $27,749,000 after buying an additional 129,969 shares in the last quarter. Acrospire Investment Management LLC bought a new position in Lexicon Pharmaceuticals during the first quarter valued at about $211,000. Royce & Associates LP boosted its position in Lexicon Pharmaceuticals by 31.2% in the first quarter. Royce & Associates LP now owns 340,589 shares of the biopharmaceutical company’s stock valued at $4,070,000 after buying an additional 81,000 shares in the last quarter. Finally, Hancock Holding Co. boosted its position in Lexicon Pharmaceuticals by 2.2% in the first quarter. Hancock Holding Co. now owns 661,745 shares of the biopharmaceutical company’s stock valued at $7,908,000 after buying an additional 14,350 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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