Lexicon Pharmaceuticals (NASDAQ:LXRX) was upgraded by equities research analysts at Gabelli from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The firm presently has a $3.00 target price on the biopharmaceutical company’s stock. Gabelli’s price target would indicate a potential upside of 23.97% from the company’s current price.

A number of other brokerages have also recently commented on LXRX. BidaskClub cut Lexicon Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, July 19th. Wedbush reissued an “outperform” rating and set a $17.00 target price (down from $35.00) on shares of Lexicon Pharmaceuticals in a research note on Thursday, August 1st. Stifel Nicolaus cut Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating and reduced their target price for the company from $10.00 to $4.00 in a research note on Monday, July 29th. ValuEngine raised Lexicon Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research cut Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $6.70.

Lexicon Pharmaceuticals stock traded up $0.02 during trading hours on Wednesday, reaching $2.42. The company had a trading volume of 43,909 shares, compared to its average volume of 893,539. The company has a 50-day moving average price of $1.81 and a 200 day moving average price of $5.02. The firm has a market cap of $182.79 million, a price-to-earnings ratio of -2.12 and a beta of 0.75. Lexicon Pharmaceuticals has a 12-month low of $1.13 and a 12-month high of $11.51.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last announced its quarterly earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($0.22) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.13). The business had revenue of $9.68 million during the quarter, compared to analyst estimates of $28.52 million. Lexicon Pharmaceuticals’s revenue for the quarter was down 29.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.33) earnings per share. Analysts anticipate that Lexicon Pharmaceuticals will post -0.8 earnings per share for the current year.

In other news, Director Sam L. Barker purchased 24,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were bought at an average cost of $1.18 per share, for a total transaction of $28,320.00. Following the completion of the transaction, the director now directly owns 40,187 shares of the company’s stock, valued at approximately $47,420.66. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lonnel Coats purchased 40,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were purchased at an average price of $1.35 per share, for a total transaction of $54,000.00. Following the completion of the transaction, the insider now directly owns 87,695 shares of the company’s stock, valued at $118,388.25. The disclosure for this purchase can be found here. Insiders have bought 111,000 shares of company stock worth $143,670 over the last three months. Insiders own 6.40% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gamco Investors INC. ET AL boosted its position in shares of Lexicon Pharmaceuticals by 10.0% during the first quarter. Gamco Investors INC. ET AL now owns 22,000 shares of the biopharmaceutical company’s stock valued at $122,000 after purchasing an additional 2,000 shares in the last quarter. Quantitative Systematic Strategies LLC boosted its position in shares of Lexicon Pharmaceuticals by 67.2% during the second quarter. Quantitative Systematic Strategies LLC now owns 20,648 shares of the biopharmaceutical company’s stock valued at $130,000 after purchasing an additional 8,302 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Lexicon Pharmaceuticals by 940.2% during the first quarter. BNP Paribas Arbitrage SA now owns 9,934 shares of the biopharmaceutical company’s stock valued at $55,000 after purchasing an additional 8,979 shares in the last quarter. Pinnacle Associates Ltd. boosted its position in shares of Lexicon Pharmaceuticals by 1.8% during the first quarter. Pinnacle Associates Ltd. now owns 550,549 shares of the biopharmaceutical company’s stock valued at $3,061,000 after purchasing an additional 9,615 shares in the last quarter. Finally, Wealth & Pension Services Group Inc. bought a new stake in shares of Lexicon Pharmaceuticals during the first quarter valued at approximately $60,000. Institutional investors own 98.88% of the company’s stock.

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.

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Analyst Recommendations for Lexicon Pharmaceuticals (NASDAQ:LXRX)

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