Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors 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. “
Several other equities research analysts have also recently issued reports on LXRX. Stifel Nicolaus lifted their target price on shares of Lexicon Pharmaceuticals from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. Wedbush reaffirmed a “buy” rating and set a $33.00 target price on shares of Lexicon Pharmaceuticals in a research note on Sunday, September 11th. Citigroup Inc. lifted their target price on shares of Lexicon Pharmaceuticals from $21.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, September 12th. HC Wainwright began coverage on shares of Lexicon Pharmaceuticals in a research note on Friday, October 7th. They set a “buy” rating and a $26.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Lexicon Pharmaceuticals in a research note on Thursday, August 11th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Lexicon Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $23.86.
Lexicon Pharmaceuticals (NASDAQ:LXRX) traded down 1.97% during trading on Thursday, hitting $17.43. 809,531 shares of the company’s stock were exchanged. The firm’s market cap is $1.81 billion. Lexicon Pharmaceuticals has a 12-month low of $7.65 and a 12-month high of $19.62. The company’s 50-day moving average price is $17.29 and its 200 day moving average price is $14.97.
Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 last year, the company earned ($0.27) EPS. The firm’s revenue for the quarter was up 5186.8% compared to the same quarter last year. Equities analysts forecast that Lexicon Pharmaceuticals will post ($1.54) earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of LXRX. Paradigm Asset Management Co. LLC acquired a new stake in shares of Lexicon Pharmaceuticals during the second quarter worth about $115,000. First Mercantile Trust Co. raised its stake in shares of 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. acquired a new stake in shares of Lexicon Pharmaceuticals during the second quarter worth about $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 shares of Lexicon Pharmaceuticals during the second quarter worth about $195,000. Finally, Quantbot Technologies LP raised its stake in shares of 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.
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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