Lexicon Pharmaceuticals (NASDAQ:LXRX) Upgraded to Buy at BidaskClub

BidaskClub upgraded shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) from a hold rating to a buy rating in a report issued on Saturday, BidAskClub reports.

A number of other research firms have also commented on LXRX. Gabelli raised Lexicon Pharmaceuticals from a hold rating to a buy rating and set a $3.00 price target on the stock in a research report on Wednesday, September 11th. Citigroup lowered Lexicon Pharmaceuticals from a buy rating to a neutral rating and boosted their price objective for the company from $3.00 to $4.00 in a research report on Friday, November 8th. Zacks Investment Research cut Lexicon Pharmaceuticals from a buy rating to a hold rating in a research note on Saturday, November 16th. G.Research raised Lexicon Pharmaceuticals from a hold rating to a buy rating in a research note on Wednesday, September 11th. Finally, ValuEngine upgraded shares of Lexicon Pharmaceuticals from a strong sell rating to a sell rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price of $6.45.

LXRX opened at $4.87 on Friday. The stock has a market cap of $449.53 million, a P/E ratio of 3.11 and a beta of 1.00. Lexicon Pharmaceuticals has a 12 month low of $1.13 and a 12 month high of $8.39. The company has a quick ratio of 8.01, a current ratio of 8.11 and a debt-to-equity ratio of 1.42. The company has a fifty day simple moving average of $3.68 and a 200 day simple moving average of $3.86.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its earnings results on Thursday, November 7th. The biopharmaceutical company reported $2.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.80. Lexicon Pharmaceuticals had a return on equity of 2,372.40% and a net margin of 49.78%. The firm had revenue of $294.45 million for the quarter, compared to analyst estimates of $12.00 million. During the same period in the previous year, the company posted ($0.26) earnings per share. The company’s revenue for the quarter was up 4124.5% on a year-over-year basis. On average, equities research analysts expect that Lexicon Pharmaceuticals will post 0.93 earnings per share for the current fiscal year.

In other news, Director Christopher J. Sobecki purchased 99,249 shares of Lexicon Pharmaceuticals stock in a transaction on Friday, September 13th. The stock was purchased at an average price of $2.41 per share, with a total value of $239,190.09. Following the transaction, the director now directly owns 13,645 shares in the company, valued at approximately $32,884.45. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Christopher J. Sobecki purchased 25,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were acquired at an average cost of $2.55 per share, with a total value of $63,750.00. Following the completion of the purchase, the director now directly owns 112,493 shares in the company, valued at $286,857.15. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 178,749 shares of company stock valued at $474,560. Company insiders own 6.40% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Quantitative Systematic Strategies LLC boosted its holdings in Lexicon Pharmaceuticals by 67.2% during the second quarter. Quantitative Systematic Strategies LLC now owns 20,648 shares of the biopharmaceutical company’s stock worth $130,000 after purchasing an additional 8,302 shares during the last quarter. Wedbush Securities Inc. lifted its position in Lexicon Pharmaceuticals by 33.0% during the 2nd quarter. Wedbush Securities Inc. now owns 194,339 shares of the biopharmaceutical company’s stock worth $1,222,000 after buying an additional 48,182 shares in the last quarter. Swiss National Bank lifted its position in Lexicon Pharmaceuticals by 18.3% during the 2nd quarter. Swiss National Bank now owns 88,614 shares of the biopharmaceutical company’s stock worth $557,000 after buying an additional 13,700 shares in the last quarter. GSA Capital Partners LLP boosted its stake in shares of Lexicon Pharmaceuticals by 217.5% during the 2nd quarter. GSA Capital Partners LLP now owns 87,132 shares of the biopharmaceutical company’s stock worth $548,000 after buying an additional 59,685 shares during the last quarter. Finally, Trexquant Investment LP acquired a new position in shares of Lexicon Pharmaceuticals during the 2nd quarter worth about $92,000. 96.27% of the stock is currently owned by institutional investors and hedge funds.

Lexicon Pharmaceuticals Company Profile

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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