Wedbush Reaffirms Outperform Rating for Lexicon Pharmaceuticals (LXRX)

Wedbush reaffirmed their outperform rating on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a research report report published on Thursday morning. Wedbush currently has a $38.00 price objective on the biopharmaceutical company’s stock. Wedbush also issued estimates for Lexicon Pharmaceuticals’ FY2019 earnings at $0.66 EPS and FY2020 earnings at $2.89 EPS.

“Management announced the initiation of its second global Phase 2/3 clinical trial for Plinabulin (for the prevention of chemotherapy-induced neutropenia CIN). Study 106, initiated in China, is enrolling patients who receive TAC (taxotere, doxorubicin and cyclophosphamide) chemotherapy, which often results in severe neutropenia, to demonstrate Plinabulin’s superiority compared with Neulasta, a G-CSF.”,” Wedbush’s analyst wrote.

Several other analysts also recently weighed in on LXRX. BidaskClub downgraded Lexicon Pharmaceuticals from a hold rating to a sell rating in a report on Wednesday, August 2nd. Needham & Company LLC restated a buy rating and issued a $21.00 price objective on shares of Lexicon Pharmaceuticals in a report on Sunday, September 17th. Finally, Zacks Investment Research downgraded Lexicon Pharmaceuticals from a hold rating to a sell rating in a report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. Lexicon Pharmaceuticals has an average rating of Hold and an average price target of $28.50.

Lexicon Pharmaceuticals (NASDAQ:LXRX) traded up $0.23 during trading hours on Thursday, hitting $10.45. The stock had a trading volume of 600,969 shares, compared to its average volume of 977,819. Lexicon Pharmaceuticals has a fifty-two week low of $8.07 and a fifty-two week high of $18.00. The company has a quick ratio of 1.65, a current ratio of 1.66 and a debt-to-equity ratio of 1.09.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.07. Lexicon Pharmaceuticals had a negative return on equity of 111.68% and a negative net margin of 165.69%. The business had revenue of $26.94 million during the quarter, compared to the consensus estimate of $27.97 million. During the same period last year, the company earned ($0.35) earnings per share. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. sell-side analysts anticipate that Lexicon Pharmaceuticals will post -1.43 earnings per share for the current year.

In other news, Director Public Equities L.P. Invus acquired 575,946 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was purchased at an average cost of $9.64 per share, for a total transaction of $5,552,119.44. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Lonnel Coats acquired 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was purchased at an average price of $9.91 per share, with a total value of $99,100.00. Following the completion of the acquisition, the chief executive officer now directly owns 42,985 shares of the company’s stock, valued at $425,981.35. The disclosure for this purchase can be found here. Insiders purchased 945,353 shares of company stock valued at $9,304,953 over the last 90 days. 5.77% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC purchased a new position in Lexicon Pharmaceuticals in the third quarter valued at about $149,000. Parametric Portfolio Associates LLC purchased a new position in Lexicon Pharmaceuticals in the second quarter valued at about $182,000. C WorldWide Group Holding A S grew its stake in Lexicon Pharmaceuticals by 49.6% in the third quarter. C WorldWide Group Holding A S now owns 16,146 shares of the biopharmaceutical company’s stock valued at $198,000 after purchasing an additional 5,353 shares during the last quarter. First Mercantile Trust Co. grew its stake 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 valued at $201,000 after purchasing an additional 1,227 shares during the last quarter. Finally, Cim Investment Mangement Inc. purchased a new position in Lexicon Pharmaceuticals in the second quarter valued at about $262,000.

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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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