Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.
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. “
Other research analysts have also recently issued research reports about the stock. Citigroup Inc. started coverage on shares of Lexicon Pharmaceuticals in a research report on Tuesday, August 2nd. They issued a “buy” rating and a $21.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating on shares of Lexicon Pharmaceuticals in a research report on Thursday, August 11th. Stifel Nicolaus upped their target price 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. HC Wainwright started coverage on shares of Lexicon Pharmaceuticals in a research report on Friday, October 7th. They issued a “buy” rating and a $26.00 target price on the stock. Finally, Wedbush reaffirmed a “buy” rating and issued a $33.00 target price on shares of Lexicon Pharmaceuticals in a research report on Sunday, September 11th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $23.86.
Lexicon Pharmaceuticals (NASDAQ:LXRX) opened at 16.70 on Thursday. Lexicon Pharmaceuticals has a 12 month low of $7.65 and a 12 month high of $19.62. The stock has a 50 day moving average of $17.35 and a 200-day moving average of $15.00. The stock’s market cap is $1.73 billion.
Lexicon Pharmaceuticals (NASDAQ:LXRX) last announced its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.04. Lexicon Pharmaceuticals had a negative net margin of 13.42% and a negative return on equity of 9.03%. The firm had revenue of $20.10 million for the quarter, compared to analysts’ expectations of $12.36 million. During the same quarter in the previous year, the company posted ($0.27) EPS. The company’s revenue was up 5186.8% compared to the same quarter last year. On average, equities analysts forecast that Lexicon Pharmaceuticals will post ($1.54) EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the company. Paradigm Asset Management Co. LLC purchased a new stake in Lexicon Pharmaceuticals during the second quarter worth $115,000. First Mercantile Trust Co. raised 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 during the last quarter. Alambic Investment Management L.P. purchased 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 purchased a new stake in Lexicon Pharmaceuticals during the second quarter worth $195,000. Finally, Quantbot Technologies LP raised 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 during 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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