Wedbush Analysts Give Lexicon Pharmaceuticals (NASDAQ:LXRX) a $35.00 Price Target

Wedbush set a $35.00 price objective on Lexicon Pharmaceuticals (NASDAQ:LXRX) in a research note released on Tuesday morning, TipRanks reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

A number of other research firms also recently issued reports on LXRX. BidaskClub raised Lexicon Pharmaceuticals from a sell rating to a hold rating in a research report on Thursday, March 14th. Gabelli cut Lexicon Pharmaceuticals from a hold rating to a sell rating in a research note on Wednesday, March 13th. ValuEngine upgraded Lexicon Pharmaceuticals from a sell rating to a hold rating in a research note on Tuesday, March 12th. Needham & Company LLC restated a hold rating on shares of Lexicon Pharmaceuticals in a research note on Monday, March 25th. Finally, Stifel Nicolaus decreased their price objective on Lexicon Pharmaceuticals from $14.00 to $10.00 and set a buy rating for the company in a research note on Monday, March 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $16.38.

LXRX opened at $5.53 on Tuesday. Lexicon Pharmaceuticals has a 12-month low of $4.25 and a 12-month high of $13.97. The firm has a market cap of $587.67 million, a PE ratio of -4.85 and a beta of 0.77.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.21). Lexicon Pharmaceuticals had a negative return on equity of 911.37% and a negative net margin of 214.93%. The business had revenue of $9.20 million for the quarter, compared to the consensus estimate of $13.26 million. During the same quarter in the prior year, the company earned ($0.40) EPS. The business’s revenue was down 63.8% compared to the same quarter last year. On average, research analysts forecast that Lexicon Pharmaceuticals will post -0.47 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA raised its holdings in Lexicon Pharmaceuticals by 940.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 9,934 shares of the biopharmaceutical company’s stock valued at $55,000 after buying an additional 8,979 shares during the period. Wealth & Pension Services Group Inc. purchased a new stake in Lexicon Pharmaceuticals during the 1st quarter valued at $60,000. Pegasus Asset Management Inc. purchased a new stake in Lexicon Pharmaceuticals during the 4th quarter valued at $66,000. M&T Bank Corp purchased a new stake in Lexicon Pharmaceuticals during the 1st quarter valued at $66,000. Finally, Federated Investors Inc. PA raised its holdings in Lexicon Pharmaceuticals by 1,317.0% during the 1st quarter. Federated Investors Inc. PA now owns 12,611 shares of the biopharmaceutical company’s stock valued at $70,000 after buying an additional 11,721 shares during the period. 98.30% of the stock is currently owned by hedge funds and other institutional investors.

Lexicon Pharmaceuticals Company Profile

Lexicon Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of pharmaceutical products. 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.

Recommended Story: Stock Symbols Definition, Examples, Lookup

Analyst Recommendations for Lexicon Pharmaceuticals (NASDAQ:LXRX)

Receive News & Ratings for Lexicon Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lexicon Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.