Lexicon Pharmaceuticals, Inc. (LXRX) Lowered to Sell at Zacks Investment Research

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, October 17th.

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 shares of Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Cowen and Company reissued a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Tuesday, August 1st. Wedbush reissued an “ourperform” rating and set a $39.00 target price on shares of Lexicon Pharmaceuticals in a research report on Monday, August 7th. Finally, Needham & Company LLC restated a “buy” rating and issued a $21.00 price target on shares of Lexicon Pharmaceuticals in a research note on Sunday, September 17th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $28.75.

Lexicon Pharmaceuticals (LXRX) opened at 10.06 on Tuesday. The firm’s 50 day moving average is $12.27 and its 200 day moving average is $14.68. The company’s market cap is $1.06 billion. Lexicon Pharmaceuticals has a 12-month low of $10.03 and a 12-month high of $18.00.

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, beating analysts’ consensus estimates of ($0.45) by $0.12. The firm had revenue of $12.00 million for the quarter, compared to analysts’ expectations of $18.34 million. Lexicon Pharmaceuticals had a negative net margin of 170.63% and a negative return on equity of 94.87%. Lexicon Pharmaceuticals’s revenue was down 40.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.37) earnings per share. Equities research analysts anticipate that Lexicon Pharmaceuticals will post ($1.47) EPS for the current fiscal year.

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In other news, insider Lonnel Coats purchased 30,000 shares of the stock in a transaction dated Friday, September 15th. The stock was acquired at an average price of $12.54 per share, for a total transaction of $376,200.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.77% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the company. State of Wisconsin Investment Board acquired a new stake in Lexicon Pharmaceuticals in the second quarter worth about $510,000. Pictet Asset Management Ltd. lifted its holdings in Lexicon Pharmaceuticals by 10.4% in the second quarter. Pictet Asset Management Ltd. now owns 67,950 shares of the biopharmaceutical company’s stock worth $941,000 after purchasing an additional 6,400 shares during the period. First Mercantile Trust Co. lifted its holdings in Lexicon Pharmaceuticals by 11.2% in the second quarter. First Mercantile Trust Co. now owns 12,212 shares of the biopharmaceutical company’s stock worth $201,000 after purchasing an additional 1,227 shares during the period. Wellington Management Group LLP lifted its holdings in Lexicon Pharmaceuticals by 11.1% in the first quarter. Wellington Management Group LLP now owns 279,874 shares of the biopharmaceutical company’s stock worth $4,013,000 after purchasing an additional 27,964 shares during the period. Finally, USS Investment Management Ltd acquired a new stake in Lexicon Pharmaceuticals in the second quarter worth about $57,705,000.

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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One Response

  1. Gajendra Prasad says:

    Can someone explain to me how Lexicon can be a sell when it’s current share price is just over $11 when the consensus price is between over$20 and just under $40????

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