Lexicon Pharmaceuticals Inc. (LXRX) Reaches New 1-Year High at $19.62
Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $19.62 and last traded at $18.63, with a volume of 354,289 shares changing hands. The stock had previously closed at $19.24.
LXRX has been the topic of several recent research reports. Needham & Company LLC reiterated a “buy” rating on shares of Lexicon Pharmaceuticals in a report on Thursday, August 11th. Zacks Investment Research upgraded Lexicon Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 3rd. Citigroup Inc. assumed coverage on Lexicon Pharmaceuticals in a report on Tuesday, August 2nd. They set a “buy” rating and a $21.00 target price on the stock. Wedbush raised their target price on Lexicon Pharmaceuticals from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Tuesday, May 31st. Finally, Stifel Nicolaus raised their target price on Lexicon Pharmaceuticals from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. Lexicon Pharmaceuticals has an average rating of “Hold” and a consensus price target of $20.93.
The firm’s market cap is $1.93 billion. The company has a 50 day moving average price of $16.06 and a 200-day moving average price of $14.20.
Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.04. Lexicon Pharmaceuticals had a negative return on equity of 9.03% and a negative net margin of 13.42%. The business earned $20.10 million during the quarter, compared to analysts’ expectations of $12.36 million. During the same quarter in the prior year, the firm earned ($0.27) EPS. The business’s revenue for the quarter was up 5186.8% compared to the same quarter last year. On average, equities research analysts forecast that Lexicon Pharmaceuticals Inc. will post ($1.54) EPS for the current year.
A number of institutional investors have recently modified their holdings of LXRX. Paradigm Asset Management Co. LLC purchased a new position in shares of Lexicon Pharmaceuticals during the second quarter worth about $115,000. First Mercantile Trust Co. boosted its position in shares of Lexicon Pharmaceuticals by 9.2% in the second quarter. First Mercantile Trust Co. now owns 10,700 shares of the biopharmaceutical company’s stock worth $154,000 after buying an additional 900 shares during the last quarter. Alambic Investment Management L.P. purchased a new position in shares of Lexicon Pharmaceuticals during the second quarter worth about $165,000. BlackRock Group LTD boosted its position in shares of Lexicon Pharmaceuticals by 56.9% in the first quarter. BlackRock Group LTD now owns 14,217 shares of the biopharmaceutical company’s stock worth $170,000 after buying an additional 5,158 shares during the last quarter. Finally, A.R.T. Advisors LLC purchased a new position in shares of Lexicon Pharmaceuticals during the first quarter worth about $174,000.
About Lexicon Pharmaceuticals
Lexicon Pharmaceuticals, Inc (Lexicon) is a biopharmaceutical company. The Company focuses on the development of treatments for human disease. The Company is engaged in the development of two drug candidates: telotristat etiprate (LX1032) and sotagliflozin (LX4211). The Company’s telotristat etiprate, is an orally delivered small molecule drug candidate, as a treatment for carcinoid syndrome.
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