ValuEngine downgraded shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) from a sell rating to a strong sell rating in a research report sent to investors on Sunday morning.
A number of other analysts have also commented on LXRX. Needham & Company LLC restated a buy rating and issued a $21.00 price target on shares of Lexicon Pharmaceuticals in a report on Sunday, September 17th. Wedbush restated an outperform rating on shares of Lexicon Pharmaceuticals in a report on Thursday, October 5th. Finally, Zacks Investment Research lowered Lexicon Pharmaceuticals from a hold rating to a sell rating in a report on Tuesday, October 17th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Lexicon Pharmaceuticals currently has an average rating of Hold and an average price target of $28.50.
Lexicon Pharmaceuticals (NASDAQ:LXRX) opened at $9.88 on Friday. Lexicon Pharmaceuticals has a 52 week low of $8.07 and a 52 week high of $18.00. The company has a quick ratio of 1.65, a current ratio of 1.66 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $1,043.21, a PE ratio of -7.84 and a beta of 0.10.
Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.29) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.07. The company had revenue of $26.94 million for the quarter, compared to analyst estimates of $27.97 million. Lexicon Pharmaceuticals had a negative return on equity of 111.68% and a negative net margin of 165.69%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.35) earnings per share. equities research analysts predict that Lexicon Pharmaceuticals will post -1.38 EPS for the current year.
In other news, CEO Lonnel Coats purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were bought at an average cost of $9.91 per share, for a total transaction of $99,100.00. Following the completion of the acquisition, the chief executive officer now directly owns 42,985 shares in the company, valued at approximately $425,981.35. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Public Equities L.P. Invus bought 180,727 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The shares were bought at an average price of $10.11 per share, for a total transaction of $1,827,149.97. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 914,353 shares of company stock worth $8,916,253. Corporate insiders own 5.77% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in LXRX. Kornitzer Capital Management Inc. KS bought a new stake in Lexicon Pharmaceuticals during the third quarter worth about $9,420,000. State Street Corp raised its holdings in Lexicon Pharmaceuticals by 19.9% during the second quarter. State Street Corp now owns 1,967,255 shares of the biopharmaceutical company’s stock worth $32,363,000 after acquiring an additional 326,088 shares in the last quarter. Pinnacle Associates Ltd. raised its holdings in Lexicon Pharmaceuticals by 25.5% during the third quarter. Pinnacle Associates Ltd. now owns 897,045 shares of the biopharmaceutical company’s stock worth $11,025,000 after acquiring an additional 182,215 shares in the last quarter. Voya Investment Management LLC raised its holdings in Lexicon Pharmaceuticals by 21.7% during the second quarter. Voya Investment Management LLC now owns 875,577 shares of the biopharmaceutical company’s stock worth $14,403,000 after acquiring an additional 156,345 shares in the last quarter. Finally, Quantitative Investment Management LLC bought a new stake in Lexicon Pharmaceuticals during the second quarter worth about $2,304,000.
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About Lexicon Pharmaceuticals
Lexicon Pharmaceuticals, Inc is a biopharmaceutical company. The Company focuses on the development and commercialization of breakthrough treatments for human disease. Its drug programs include XERMELO (telotristat ethyl), sotagliflozin, LX2761 and LX9211. It also has a number of additional compounds into various stages of clinical and preclinical development.
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