Published On: Sun, Sep 11th, 2016

Lexicon Pharmaceuticals Inc. (LXRX) Given “Buy” Rating at Wedbush

Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX)‘s stock had its “buy” rating reissued by Wedbush in a research note issued to investors on Sunday. They currently have a $33.00 price objective on the biopharmaceutical company’s stock. Wedbush’s price target suggests a potential upside of 84.87% from the company’s current price.
Other research analysts have also recently issued research reports about the company. Zacks Investment Research cut Lexicon Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, July 6th. Needham & Company LLC reiterated a “buy” rating on shares of Lexicon Pharmaceuticals in a research report on Thursday, August 11th. Citigroup Inc. began coverage on Lexicon Pharmaceuticals in a research report on Tuesday, August 2nd. They set a “buy” rating and a $21.00 price objective on the stock. Stifel Nicolaus increased their price objective on 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 reiterated a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Friday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $20.36.
Lexicon Pharmaceuticals (NASDAQ:LXRX) opened at 17.85 on Friday. The firm’s market cap is $1.85 billion. Lexicon Pharmaceuticals has a 12 month low of $7.65 and a 12 month high of $19.19. The company’s 50-day moving average is $15.54 and its 200 day moving average is $13.70.

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Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.04. Lexicon Pharmaceuticals had a negative return on equity of 9.03% and a negative net margin of 13.42%. The business had revenue of $20.10 million for the quarter, compared to analysts’ expectations of $12.36 million. During the same quarter in the prior year, the business earned ($0.27) EPS. The firm’s revenue for the quarter was up 5186.8% on a year-over-year basis. Equities research analysts expect that Lexicon Pharmaceuticals will post ($1.54) EPS for the current fiscal year.
Several hedge funds and institutional investors recently modified their holdings of LXRX. Capital Fund Management S.A. bought a new position in shares of Lexicon Pharmaceuticals during the second quarter worth approximately $283,000. American Century Companies Inc. bought a new position in shares of Lexicon Pharmaceuticals during the second quarter worth approximately $2,194,000. Falcon Point Capital LLC boosted its position in shares of Lexicon Pharmaceuticals by 3.5% in the second quarter. Falcon Point Capital LLC now owns 287,809 shares of the biopharmaceutical company’s stock worth $4,130,000 after buying an additional 9,816 shares during the last quarter. Old Mutual Global Investors UK Ltd. bought a new position in shares of Lexicon Pharmaceuticals during the second quarter worth approximately $257,000. Finally, Acadian Asset Management LLC bought a new position in shares of Lexicon Pharmaceuticals during the second quarter worth approximately $863,000.
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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