Needham & Company LLC Reiterates Buy Rating for Lexicon Pharmaceuticals, Inc. (LXRX)

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a research note issued on Sunday. They presently have a $21.00 price target on the biopharmaceutical company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 69.77% from the stock’s previous close.

A number of other brokerages have also recently issued reports on LXRX. Zacks Investment Research raised shares of Lexicon Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Wedbush reaffirmed an “ourperform” rating and issued a $39.00 price objective on shares of Lexicon Pharmaceuticals in a research note on Monday, August 7th. BidaskClub cut shares of Lexicon Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Cowen and Company reaffirmed a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Tuesday, August 1st. Finally, ValuEngine raised shares of Lexicon Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $27.00.

Lexicon Pharmaceuticals (LXRX) opened at 12.37 on Friday. Lexicon Pharmaceuticals has a 1-year low of $11.80 and a 1-year high of $19.62. The stock’s 50 day moving average is $14.62 and its 200 day moving average is $15.32. The company’s market cap is $1.31 billion.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last announced its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter, beating the Zacks’ 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 during the quarter, compared to analysts’ expectations of $18.34 million. During the same quarter in the prior year, the company earned ($0.37) EPS. The firm’s revenue was down 40.3% on a year-over-year basis. Equities analysts anticipate that Lexicon Pharmaceuticals will post ($1.45) earnings per share for the current fiscal year.

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A number of large investors have recently bought and sold shares of the stock. 361 Capital LLC raised its holdings in Lexicon Pharmaceuticals by 91.8% during the 2nd quarter. 361 Capital LLC now owns 24,874 shares of the biopharmaceutical company’s stock valued at $409,000 after buying an additional 11,904 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Lexicon Pharmaceuticals by 3.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 36,417 shares of the biopharmaceutical company’s stock valued at $599,000 after buying an additional 1,291 shares during the last quarter. State Street Corp raised its holdings in Lexicon Pharmaceuticals by 19.9% during the 2nd quarter. State Street Corp now owns 1,967,255 shares of the biopharmaceutical company’s stock valued at $32,363,000 after buying an additional 326,088 shares during the last quarter. Macquarie Group Ltd. raised its holdings in Lexicon Pharmaceuticals by 53.2% during the 2nd quarter. Macquarie Group Ltd. now owns 104,566 shares of the biopharmaceutical company’s stock valued at $1,720,000 after buying an additional 36,300 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Lexicon Pharmaceuticals by 17.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 134,043 shares of the biopharmaceutical company’s stock valued at $2,205,000 after buying an additional 20,379 shares during the last quarter.

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.

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