Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) announced its quarterly earnings results on Friday. The biopharmaceutical company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.51) by $0.20. The business had revenue of $23 million for the quarter, compared to analysts’ expectations of $15.56 million. Lexicon Pharmaceuticals had a negative net margin of 11.87% and a negative return on equity of 9.46%. The business’s quarterly revenue was down 81.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.76 EPS.
Shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) traded up 1.68% during mid-day trading on Friday, hitting $13.93. 948,365 shares of the stock traded hands. The firm has a 50 day moving average of $15.26 and a 200 day moving average of $15.83. Lexicon Pharmaceuticals has a 12 month low of $11.52 and a 12 month high of $19.62. The company’s market cap is $1.45 billion.
A number of hedge funds have recently added to or reduced their stakes in the stock. Oxford Asset Management raised its stake in Lexicon Pharmaceuticals by 18.6% in the second quarter. Oxford Asset Management now owns 387,383 shares of the biopharmaceutical company’s stock valued at $5,559,000 after buying an additional 60,623 shares in the last quarter. American Century Companies Inc. purchased a new stake in Lexicon Pharmaceuticals during the second quarter valued at approximately $2,194,000. Stifel Financial Corp purchased a new stake in Lexicon Pharmaceuticals during the second quarter valued at approximately $890,000. Schwab Charles Investment Management Inc. raised its stake in Lexicon Pharmaceuticals by 100.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 305,203 shares of the biopharmaceutical company’s stock valued at $4,380,000 after buying an additional 152,735 shares in the last quarter. Finally, First Mercantile Trust Co. raised its stake in Lexicon Pharmaceuticals by 85.2% in the third quarter. First Mercantile Trust Co. now owns 19,813 shares of the biopharmaceutical company’s stock valued at $358,000 after buying an additional 9,113 shares in the last quarter.
Several brokerages have commented on LXRX. Citigroup Inc set a $24.00 price target on shares of Lexicon Pharmaceuticals and gave the stock a “buy” rating in a research note on Sunday, December 25th. Zacks Investment Research upgraded shares of Lexicon Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, February 17th. Cowen and Company restated a “market perform” rating on shares of Lexicon Pharmaceuticals in a research report on Friday, December 23rd. Wedbush restated an “outperform” rating and set a $33.00 target price on shares of Lexicon Pharmaceuticals in a research report on Wednesday, February 8th. Finally, Needham & Company LLC restated a “buy” rating and set a $21.00 target price on shares of Lexicon Pharmaceuticals in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. Lexicon Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $25.14.
About Lexicon Pharmaceuticals
Lexicon Pharmaceuticals, Inc (Lexicon) is a biopharmaceutical company. The Company focuses on the development of treatments for human disease. The Company is engaged in the development of two drug candidates: telotristat etiprate (LX1032) and sotagliflozin (LX4211). The Company’s telotristat etiprate, is an orally delivered small molecule drug candidate, as a treatment for carcinoid syndrome.
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