Lexicon Pharmaceuticals (NASDAQ:LXRX) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning, Zacks.com reports. The brokerage currently has $3.75 target price 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. “

LXRX has been the topic of several other reports. Smith Barney Citigroup raised shares of Lexicon Pharmaceuticals from a neutral rating to a buy rating in a research report on Tuesday, December 8th. JPMorgan Chase & Co. initiated coverage on shares of Lexicon Pharmaceuticals in a research report on Wednesday, October 14th. They set an underweight rating on the stock. Gabelli raised shares of Lexicon Pharmaceuticals from a hold rating to a buy rating in a research report on Wednesday, November 18th. G.Research raised shares of Lexicon Pharmaceuticals from a hold rating to a buy rating in a research report on Wednesday, November 18th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised shares of Lexicon Pharmaceuticals from a neutral rating to a buy rating and increased their price objective for the company from $2.10 to $6.00 in a research report on Tuesday, December 8th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. Lexicon Pharmaceuticals has a consensus rating of Hold and an average price target of $3.71.

NASDAQ:LXRX opened at $3.42 on Wednesday. The firm’s 50-day moving average price is $2.39 and its 200-day moving average price is $1.85. The company has a market capitalization of $414.45 million, a PE ratio of -3.26 and a beta of 1.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.54 and a quick ratio of 1.55. Lexicon Pharmaceuticals has a 1-year low of $1.03 and a 1-year high of $4.47.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its earnings results on Thursday, October 29th. The biopharmaceutical company reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.26. Lexicon Pharmaceuticals had a negative net margin of 320.44% and a negative return on equity of 164.96%. The firm had revenue of $6.63 million for the quarter, compared to the consensus estimate of $119.16 million. Equities analysts anticipate that Lexicon Pharmaceuticals will post -1.11 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Lexicon Pharmaceuticals by 55.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 110,263 shares of the biopharmaceutical company’s stock valued at $159,000 after acquiring an additional 39,352 shares during the period. WINTON GROUP Ltd lifted its stake in shares of Lexicon Pharmaceuticals by 12.1% in the 3rd quarter. WINTON GROUP Ltd now owns 375,163 shares of the biopharmaceutical company’s stock worth $540,000 after purchasing an additional 40,452 shares during the period. Nuveen Asset Management LLC lifted its stake in shares of Lexicon Pharmaceuticals by 17.8% in the 2nd quarter. Nuveen Asset Management LLC now owns 200,884 shares of the biopharmaceutical company’s stock worth $401,000 after purchasing an additional 30,367 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Lexicon Pharmaceuticals by 6.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 283,894 shares of the biopharmaceutical company’s stock worth $567,000 after purchasing an additional 17,201 shares during the period. Finally, Bridgeway Capital Management Inc. lifted its stake in shares of Lexicon Pharmaceuticals by 35.7% in the 2nd quarter. Bridgeway Capital Management Inc. now owns 398,392 shares of the biopharmaceutical company’s stock worth $795,000 after purchasing an additional 104,792 shares during the period. Institutional investors and hedge funds own 90.14% of the company’s stock.

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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