Zacks Investment Research lowered shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) from a hold rating to a sell rating in a research note released on Wednesday morning.

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. “

Other research analysts also recently issued research reports about the stock. Wedbush restated an outperform rating and issued a $38.00 price target on shares of Lexicon Pharmaceuticals in a research report on Thursday, November 30th. BidaskClub upgraded shares of Lexicon Pharmaceuticals from a sell rating to a hold rating in a research note on Tuesday. Finally, ValuEngine lowered shares of Lexicon Pharmaceuticals from a sell rating to a strong sell rating in a research note on Sunday, December 31st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $28.50.

Lexicon Pharmaceuticals (NASDAQ LXRX) opened at $9.77 on Wednesday. Lexicon Pharmaceuticals has a 1 year low of $8.07 and a 1 year high of $18.00. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.65 and a current ratio of 1.66.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.36) by $0.07. The firm had revenue of $26.94 million for the quarter, compared to the consensus estimate of $27.97 million. Lexicon Pharmaceuticals had a negative net margin of 165.69% and a negative return on equity of 111.68%. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.35) EPS. equities analysts expect that Lexicon Pharmaceuticals will post -1.38 EPS for the current year.

In related news, Director Public Equities L.P. Invus acquired 575,946 shares of the stock in a transaction dated Tuesday, November 14th. The stock was bought at an average price of $9.64 per share, for a total transaction of $5,552,119.44. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Lonnel Coats purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were acquired at an average price of $9.91 per share, with a total value of $99,100.00. Following the purchase, the chief executive officer now directly owns 42,985 shares in the company, valued at approximately $425,981.35. The disclosure for this purchase can be found here. Insiders bought a total of 914,353 shares of company stock valued at $8,916,253 in the last quarter. 5.77% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in LXRX. Schwab Charles Investment Management Inc. increased its stake in Lexicon Pharmaceuticals by 0.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 193,318 shares of the biopharmaceutical company’s stock valued at $3,181,000 after purchasing an additional 1,633 shares in the last quarter. Legal & General Group Plc increased its stake in Lexicon Pharmaceuticals by 2.6% during the 2nd quarter. Legal & General Group Plc now owns 18,570 shares of the biopharmaceutical company’s stock valued at $305,000 after purchasing an additional 465 shares in the last quarter. Teachers Advisors LLC increased its stake in Lexicon Pharmaceuticals by 8.5% during the 2nd quarter. Teachers Advisors LLC now owns 77,189 shares of the biopharmaceutical company’s stock valued at $1,270,000 after purchasing an additional 6,077 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in Lexicon Pharmaceuticals during the 2nd quarter valued at $1,261,000. Finally, Nationwide Fund Advisors increased its stake in Lexicon Pharmaceuticals by 4.5% during the 2nd quarter. Nationwide Fund Advisors now owns 76,747 shares of the biopharmaceutical company’s stock valued at $1,262,000 after purchasing an additional 3,289 shares in the last quarter.

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About Lexicon Pharmaceuticals

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.

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