Lexicon Pharmaceuticals (NASDAQ:LXRX) Upgraded 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 Saturday morning, Zacks.com reports. They currently have $4.25 price objective 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 a number of other research reports. ValuEngine upgraded Lexicon Pharmaceuticals from a strong sell rating to a sell rating in a report on Wednesday, October 2nd. Citigroup cut Lexicon Pharmaceuticals from a buy rating to a neutral rating and upped their price target for the stock from $3.00 to $4.00 in a report on Friday. Wedbush restated a buy rating and issued a $17.00 price target on shares of Lexicon Pharmaceuticals in a report on Friday, October 4th. Stifel Nicolaus cut Lexicon Pharmaceuticals from a buy rating to a hold rating and lowered their price target for the stock from $10.00 to $4.00 in a report on Monday, July 29th. Finally, BidaskClub cut Lexicon Pharmaceuticals from a strong-buy rating to a buy rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $6.45.

Shares of Lexicon Pharmaceuticals stock traded down $0.36 on Friday, hitting $3.52. The stock had a trading volume of 1,316,800 shares, compared to its average volume of 1,292,482. The stock has a market cap of $419.77 million, a price-to-earnings ratio of -3.09 and a beta of 0.95. The company’s 50 day moving average price is $3.52 and its 200 day moving average price is $4.21. Lexicon Pharmaceuticals has a 52-week low of $1.13 and a 52-week high of $9.15.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported $2.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.80. The firm had revenue of $294.45 million during the quarter, compared to analyst estimates of $12.00 million. The business’s revenue was up 4124.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.26) EPS. As a group, research analysts predict that Lexicon Pharmaceuticals will post 0.69 EPS for the current fiscal year.

In related news, insider Lonnel Coats bought 40,000 shares of the stock in a transaction on Monday, August 19th. The shares were purchased at an average price of $1.35 per share, for a total transaction of $54,000.00. Following the acquisition, the insider now owns 87,695 shares in the company, valued at $118,388.25. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christopher J. Sobecki bought 25,000 shares of the stock in a transaction on Monday, September 16th. The shares were bought at an average price of $2.55 per share, for a total transaction of $63,750.00. Following the acquisition, the director now owns 112,493 shares in the company, valued at approximately $286,857.15. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 255,749 shares of company stock worth $578,510. 6.40% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in the business. Russell Investments Group Ltd. purchased a new position in shares of Lexicon Pharmaceuticals during the 3rd quarter worth $202,000. Commonwealth Equity Services LLC lifted its stake in shares of Lexicon Pharmaceuticals by 40.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 16,461 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 4,746 shares during the period. Wedbush Securities Inc. lifted its stake in shares of Lexicon Pharmaceuticals by 105.1% during the 3rd quarter. Wedbush Securities Inc. now owns 398,684 shares of the biopharmaceutical company’s stock worth $1,200,000 after purchasing an additional 204,345 shares during the period. First Manhattan Co. lifted its stake in shares of Lexicon Pharmaceuticals by 7.3% during the 2nd quarter. First Manhattan Co. now owns 2,949,979 shares of the biopharmaceutical company’s stock worth $18,555,000 after purchasing an additional 201,393 shares during the period. Finally, Voloridge Investment Management LLC purchased a new position in shares of Lexicon Pharmaceuticals during the 2nd quarter worth $105,000. Hedge funds and other institutional investors own 99.06% 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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