Lexicon Pharmaceuticals’ (LXRX) “Buy” Rating Reaffirmed at HC Wainwright
HC Wainwright restated their buy rating on shares of Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX) in a research note released on Tuesday morning. HC Wainwright currently has a $26.00 price objective on the biopharmaceutical company’s stock.
A number of other brokerages have also weighed in on LXRX. Wedbush restated an outperform rating and issued a $33.00 price objective on shares of Lexicon Pharmaceuticals in a report on Tuesday, September 20th. Zacks Investment Research upgraded shares of Lexicon Pharmaceuticals from a hold rating to a buy rating and set a $20.00 price target for the company in a report on Wednesday, October 5th. Needham & Company LLC reiterated a buy rating and set a $21.00 price target on shares of Lexicon Pharmaceuticals in a report on Monday, September 12th. Citigroup Inc. upped their price target on shares of Lexicon Pharmaceuticals from $21.00 to $25.00 and gave the company a buy rating in a report on Monday, September 12th. Finally, Stifel Nicolaus upped their price target on shares of Lexicon Pharmaceuticals from $25.00 to $26.00 and gave the company a buy rating in a report on Friday, August 5th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $23.86.
Lexicon Pharmaceuticals (NASDAQ:LXRX) traded down 2.39% during midday trading on Tuesday, reaching $16.37. 33,284 shares of the company’s stock were exchanged. The company’s market cap is $1.70 billion. The firm has a 50-day moving average price of $17.50 and a 200 day moving average price of $15.11. Lexicon Pharmaceuticals has a 12-month low of $7.65 and a 12-month high of $19.62.
Lexicon Pharmaceuticals (NASDAQ:LXRX) last announced its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.41) by $0.04. The firm earned $20.10 million during the quarter, compared to analyst estimates of $12.36 million. Lexicon Pharmaceuticals had a negative net margin of 13.42% and a negative return on equity of 9.03%. The business’s quarterly revenue was up 5186.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.27) EPS. On average, analysts expect that Lexicon Pharmaceuticals will post ($1.54) EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the company. Paradigm Asset Management Co. LLC acquired a new stake in Lexicon Pharmaceuticals during the second quarter worth $115,000. First Mercantile Trust Co. increased its stake 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 worth $154,000 after buying an additional 900 shares in the last quarter. Alambic Investment Management L.P. acquired a new stake in Lexicon Pharmaceuticals during the second quarter worth $165,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in Lexicon Pharmaceuticals during the second quarter worth $195,000. Finally, Quantbot Technologies LP increased its stake in Lexicon Pharmaceuticals by 12.3% in the second quarter. Quantbot Technologies LP now owns 13,999 shares of the biopharmaceutical company’s stock worth $200,000 after buying an additional 1,529 shares in the last quarter.
Lexicon Pharmaceuticals Company Profile
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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