Lexicon Pharmaceuticals (LXRX) Rating Increased to Hold at BidaskClub

Lexicon Pharmaceuticals (NASDAQ:LXRX) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Tuesday, May 7th, BidAskClub reports.

LXRX has been the topic of several other reports. Needham & Company LLC restated a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Thursday, May 2nd. Wedbush reiterated an “outperform” rating and set a $35.00 price objective (up previously from $34.00) on shares of Lexicon Pharmaceuticals in a research note on Monday, April 29th. ValuEngine upgraded Lexicon Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. Gabelli upgraded Lexicon Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, March 25th. Finally, Stifel Nicolaus decreased their price target on Lexicon Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, March 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $16.38.

Shares of NASDAQ LXRX traded down $0.16 during trading hours on Tuesday, reaching $5.66. 284,399 shares of the stock traded hands, compared to its average volume of 810,588. The stock has a market cap of $629.13 million, a price-to-earnings ratio of -4.96 and a beta of 0.72. Lexicon Pharmaceuticals has a 52-week low of $4.25 and a 52-week high of $13.97.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last announced its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.21) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.21). The business had revenue of $9.20 million for the quarter, compared to analysts’ expectations of $13.26 million. Lexicon Pharmaceuticals had a negative return on equity of 911.37% and a negative net margin of 214.93%. The business’s quarterly revenue was down 63.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.40) EPS. As a group, sell-side analysts anticipate that Lexicon Pharmaceuticals will post -0.47 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of LXRX. First Manhattan Co. purchased a new stake in Lexicon Pharmaceuticals during the first quarter valued at $15,282,000. Clearbridge Investments LLC increased its position in Lexicon Pharmaceuticals by 974,268.4% during the third quarter. Clearbridge Investments LLC now owns 1,295,910 shares of the biopharmaceutical company’s stock valued at $13,827,000 after acquiring an additional 1,295,777 shares during the last quarter. Macquarie Group Ltd. purchased a new stake in Lexicon Pharmaceuticals during the first quarter valued at $2,502,000. Pictet Asset Management Ltd. increased its position in Lexicon Pharmaceuticals by 42.6% during the first quarter. Pictet Asset Management Ltd. now owns 586,850 shares of the biopharmaceutical company’s stock valued at $3,263,000 after acquiring an additional 175,400 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its holdings in Lexicon Pharmaceuticals by 181.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 268,476 shares of the biopharmaceutical company’s stock valued at $1,783,000 after purchasing an additional 173,096 shares during the period. Institutional investors own 98.30% of the company’s stock.

About Lexicon Pharmaceuticals

Lexicon Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of pharmaceutical products. The company offers XERMELO, an orally-delivered small molecule drug candidate for the treatment of carcinoid syndrome diarrhea in combination with somatostatin analog therapy in adults.

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Analyst Recommendations for Lexicon Pharmaceuticals (NASDAQ:LXRX)

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