Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a note issued to investors on Tuesday. They currently have a $26.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s target price suggests a potential upside of 57.48% from the company’s current price.
Several other research analysts have also commented on LXRX. Zacks Investment Research lowered shares of Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, October 13th. Wedbush reissued an “outperform” rating and issued a $33.00 price objective on shares of Lexicon Pharmaceuticals in a research note on Tuesday, September 20th. Needham & Company LLC reissued a “buy” rating and issued a $21.00 price objective on shares of Lexicon Pharmaceuticals in a research note on Monday, September 12th. Citigroup Inc. raised their price objective on shares of Lexicon Pharmaceuticals from $21.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, September 12th. Finally, Cowen and Company reissued a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Friday, September 9th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Lexicon Pharmaceuticals presently has an average rating of “Buy” and an average price target of $23.86.
Lexicon Pharmaceuticals (NASDAQ:LXRX) traded up 1.181% on Tuesday, hitting $16.705. 488,931 shares of the company traded hands. The stock’s 50-day moving average is $17.42 and its 200 day moving average is $15.08. The firm’s market capitalization is $1.74 billion. 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 earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.41) by $0.04. The company 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%. Lexicon Pharmaceuticals’s revenue was up 5186.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.27) earnings per share. 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 stock. Paradigm Asset Management Co. LLC purchased a new stake in shares of Lexicon Pharmaceuticals during the second quarter valued at $115,000. First Mercantile Trust Co. boosted 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. bought 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 bought a new stake in Lexicon Pharmaceuticals during the second quarter worth $195,000. Finally, Quantbot Technologies LP boosted 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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