Zacks Investment Research downgraded shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) from a strong-buy rating to a hold rating in a report published on Wednesday.
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. “
A number of other research firms have also recently commented on LXRX. BidaskClub cut Lexicon Pharmaceuticals from a sell rating to a strong sell rating in a research note on Thursday, October 4th. ValuEngine upgraded Lexicon Pharmaceuticals from a sell rating to a hold rating in a research note on Tuesday, August 28th. Citigroup decreased their price target on Lexicon Pharmaceuticals from $27.00 to $26.00 and set a buy rating on the stock in a research note on Friday, November 2nd. Gabelli restated a hold rating on shares of Lexicon Pharmaceuticals in a research note on Friday, November 2nd. Finally, Cowen restated a hold rating on shares of Lexicon Pharmaceuticals in a research note on Friday, November 2nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $25.25.
NASDAQ:LXRX traded down $0.12 during trading hours on Wednesday, reaching $8.97. 262,589 shares of the stock were exchanged, compared to its average volume of 429,518. The company has a quick ratio of 2.83, a current ratio of 2.90 and a debt-to-equity ratio of 8.85. Lexicon Pharmaceuticals has a twelve month low of $7.42 and a twelve month high of $13.97. The stock has a market capitalization of $937.44 million, a price-to-earnings ratio of -7.06 and a beta of 0.73.
Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its quarterly earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.07. Lexicon Pharmaceuticals had a negative return on equity of 1,247.65% and a negative net margin of 168.23%. The company had revenue of $6.90 million for the quarter, compared to analysts’ expectations of $12.56 million. During the same period in the prior year, the firm earned ($0.29) earnings per share. The firm’s revenue was down 74.3% compared to the same quarter last year. On average, sell-side analysts expect that Lexicon Pharmaceuticals will post -1.29 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in LXRX. Tocqueville Asset Management L.P. acquired a new stake in shares of Lexicon Pharmaceuticals in the second quarter valued at $164,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Lexicon Pharmaceuticals in the second quarter valued at $205,000. LPL Financial LLC raised its stake in shares of Lexicon Pharmaceuticals by 34.1% in the first quarter. LPL Financial LLC now owns 29,172 shares of the biopharmaceutical company’s stock valued at $250,000 after acquiring an additional 7,426 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Lexicon Pharmaceuticals by 8,364.1% in the third quarter. Bank of Montreal Can now owns 122,053 shares of the biopharmaceutical company’s stock valued at $1,302,000 after acquiring an additional 120,611 shares in the last quarter. Finally, Price Capital Management Inc. acquired a new stake in shares of Lexicon Pharmaceuticals in the second quarter valued at $1,352,000.
Lexicon Pharmaceuticals Company Profile
Lexicon Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of pharmaceutical products for the treatment of human diseases. 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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