Lexicon Pharmaceuticals, Inc. (LXRX) Given “Outperform” Rating at Wedbush
Other research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Lexicon Pharmaceuticals from a hold rating to a sell rating in a research report on Wednesday, July 5th. Cowen and Company reissued a hold rating on shares of Lexicon Pharmaceuticals in a research report on Tuesday, August 1st. Needham & Company LLC reissued a buy rating and issued a $21.00 target price on shares of Lexicon Pharmaceuticals in a research report on Sunday, September 17th. BidaskClub downgraded shares of Lexicon Pharmaceuticals from a sell rating to a strong sell rating in a research report on Thursday, August 10th. Finally, ValuEngine raised shares of Lexicon Pharmaceuticals from a sell rating to a hold rating in a research report on Thursday, June 15th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $28.75.
Lexicon Pharmaceuticals (NASDAQ:LXRX) opened at 11.74 on Thursday. The stock’s market cap is $1.24 billion. The company’s 50 day moving average is $13.38 and its 200 day moving average is $14.96. Lexicon Pharmaceuticals has a 52 week low of $11.62 and a 52 week high of $19.50.
Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.12. The business had revenue of $12.00 million for the quarter, compared to the consensus estimate of $18.34 million. Lexicon Pharmaceuticals had a negative net margin of 170.63% and a negative return on equity of 94.87%. The firm’s quarterly revenue was down 40.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.37) earnings per share. Equities analysts predict that Lexicon Pharmaceuticals will post ($1.47) earnings per share for the current year.
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In related news, insider Lonnel Coats purchased 30,000 shares of the firm’s stock in a transaction that occurred 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.77% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. State of Wisconsin Investment Board acquired a new stake in shares of Lexicon Pharmaceuticals during the second quarter worth approximately $510,000. Highbridge Capital Management LLC acquired a new stake in shares of Lexicon Pharmaceuticals during the first quarter worth approximately $7,813,000. Pictet Asset Management Ltd. boosted its holdings in shares of Lexicon Pharmaceuticals by 10.4% during the second quarter. Pictet Asset Management Ltd. now owns 67,950 shares of the biopharmaceutical company’s stock worth $941,000 after purchasing an additional 6,400 shares during the period. First Mercantile Trust Co. boosted its holdings in shares of Lexicon Pharmaceuticals by 11.2% during the second quarter. First Mercantile Trust Co. now owns 12,212 shares of the biopharmaceutical company’s stock worth $201,000 after purchasing an additional 1,227 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Lexicon Pharmaceuticals by 11.1% during the first quarter. Wellington Management Group LLP now owns 279,874 shares of the biopharmaceutical company’s stock worth $4,013,000 after purchasing an additional 27,964 shares during the period.
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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