Wedbush reissued their outperform rating on shares of Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) in a research note published on Thursday.

Other research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Lexicon Pharmaceuticals from a hold rating to a sell rating in a research report on Wednesday, July 5th. Cowen and Company reiterated a hold rating on shares of Lexicon Pharmaceuticals in a research report on Tuesday, August 1st. Needham & Company LLC reiterated a buy rating and set a $21.00 price objective on shares of Lexicon Pharmaceuticals in a research report on Sunday, September 17th. BidaskClub cut shares of Lexicon Pharmaceuticals from a sell rating to a strong sell rating in a research report on Thursday, August 10th. Finally, ValuEngine upgraded shares of Lexicon Pharmaceuticals from a sell rating to a hold rating in a research report on Thursday, June 15th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $28.75.

Shares of Lexicon Pharmaceuticals (LXRX) traded down 2.41% during midday trading on Thursday, hitting $11.74. 585,828 shares of the stock were exchanged. Lexicon Pharmaceuticals has a 1-year low of $11.62 and a 1-year high of $19.50. The company’s market capitalization is $1.24 billion. The firm has a 50-day moving average of $13.46 and a 200-day moving average of $14.98.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last announced its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.12. Lexicon Pharmaceuticals had a negative net margin of 170.63% and a negative return on equity of 94.87%. The company had revenue of $12.00 million for the quarter, compared to analysts’ expectations of $18.34 million. During the same quarter in the previous year, the business posted ($0.37) earnings per share. Lexicon Pharmaceuticals’s quarterly revenue was down 40.3% on a year-over-year basis. On average, equities analysts expect that Lexicon Pharmaceuticals will post ($1.47) EPS for the current year.

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In other news, insider Lonnel Coats acquired 30,000 shares of the business’s stock in a transaction on Friday, September 15th. The shares were acquired at an average price of $12.54 per share, for a total transaction of $376,200.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.77% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of LXRX. USS Investment Management Ltd purchased a new stake in shares of Lexicon Pharmaceuticals during the second quarter valued at $57,705,000. Pinnacle Associates Ltd. purchased a new stake in shares of Lexicon Pharmaceuticals during the second quarter valued at $11,759,000. Vanguard Group Inc. boosted its stake in shares of Lexicon Pharmaceuticals by 16.3% during the first quarter. Vanguard Group Inc. now owns 4,168,301 shares of the biopharmaceutical company’s stock valued at $59,773,000 after purchasing an additional 585,222 shares during the period. Highbridge Capital Management LLC purchased a new stake in shares of Lexicon Pharmaceuticals during the first quarter valued at $7,813,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Lexicon Pharmaceuticals during the first quarter valued at $5,485,000.

Lexicon Pharmaceuticals Company Profile

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.

Analyst Recommendations for Lexicon Pharmaceuticals (NASDAQ:LXRX)

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