Zacks Investment Research upgraded shares of Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. Zacks Investment Research currently has $20.00 price objective on the biopharmaceutical company’s stock.
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. “
A number of other brokerages have also recently weighed in on LXRX. Wedbush reiterated an outperform rating and set a $33.00 price target on shares of Lexicon Pharmaceuticals in a research note on Tuesday, September 20th. Needham & Company LLC reiterated a buy rating and set a $21.00 price target on shares of Lexicon Pharmaceuticals in a research note on Monday, September 12th. Citigroup Inc. upped their price objective on shares of Lexicon Pharmaceuticals from $21.00 to $25.00 and gave the stock a buy rating in a research report on Monday, September 12th. Stifel Nicolaus upped their price objective on shares of Lexicon Pharmaceuticals from $25.00 to $26.00 and gave the stock a buy rating in a research report on Friday, August 5th. Finally, Cowen and Company restated a hold rating on shares of Lexicon Pharmaceuticals in a research report on Friday, September 9th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $23.86.
Shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) traded up 2.06% during mid-day trading on Wednesday, hitting $19.34. 77,773 shares of the stock traded hands. The firm’s 50 day moving average price is $16.95 and its 200 day moving average price is $14.81. Lexicon Pharmaceuticals has a 12-month low of $7.65 and a 12-month high of $19.62. The firm’s market cap is $2.01 billion.
Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its quarterly earnings results 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 analysts’ expectations 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 quarterly revenue was up 5186.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.27) EPS. On average, equities research analysts predict that Lexicon Pharmaceuticals will post ($1.54) EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in the stock. Paradigm Asset Management Co. LLC bought a new position in shares of Lexicon Pharmaceuticals during the second quarter worth about $115,000. First Mercantile Trust Co. increased its position 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 in the last quarter. Alambic Investment Management L.P. acquired a new position in Lexicon Pharmaceuticals during the second quarter valued at $165,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in Lexicon Pharmaceuticals during the second quarter valued at $195,000. Finally, Quantbot Technologies LP increased its position in Lexicon Pharmaceuticals by 12.3% in the second quarter. Quantbot Technologies LP now owns 13,999 shares of the biopharmaceutical company’s stock valued at $200,000 after buying an additional 1,529 shares during the period.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Lexicon Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lexicon Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.