Lexicon Pharmaceuticals (LXRX) Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) from a hold rating to a sell rating in a report published on Wednesday morning.

According to Zacks, “Lexicon Genetics Incorporated is a leader in defining the functions of genes for drug discovery using large-scale knockout mouse technology. Lexicon has invented high-throughput gene trapping technology to discover thousands of genes and expand its OmniBank library of tens of thousands of mouse clones. The Company uses an integrated platform of functional genomic technologies to accelerate large-scale analysis of mammalian gene function for drug discovery. “

A number of other equities research analysts have also recently issued reports on LXRX. BidaskClub raised shares of Lexicon Pharmaceuticals from a sell rating to a hold rating in a research note on Tuesday. Wedbush reaffirmed an outperform rating on shares of Lexicon Pharmaceuticals in a research note on Thursday, October 5th. Finally, ValuEngine cut shares of Lexicon Pharmaceuticals from a sell rating to a strong sell rating in a research note on Sunday, December 31st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $28.50.

Lexicon Pharmaceuticals (NASDAQ:LXRX) opened at $10.98 on Wednesday. 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 has a 12 month low of $8.07 and a 12 month high of $18.00. The company has a market cap of $1,160.00, a P/E ratio of -8.65 and a beta of 0.10.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.36) by $0.07. Lexicon Pharmaceuticals had a negative net margin of 165.69% and a negative return on equity of 111.68%. The business had revenue of $26.94 million during the quarter, compared to analysts’ expectations of $27.97 million. During the same quarter in the previous year, the company earned ($0.35) EPS. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. sell-side analysts expect that Lexicon Pharmaceuticals will post -1.38 earnings per share for the current year.

In other Lexicon Pharmaceuticals news, Director Public Equities L.P. Invus acquired 145,680 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was bought at an average price of $9.74 per share, with a total value of $1,418,923.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Lonnel Coats acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was acquired at an average cost of $9.91 per share, with a total value of $99,100.00. Following the purchase, the chief executive officer now directly owns 42,985 shares in the company, valued at approximately $425,981.35. The disclosure for this purchase can be found here. Insiders bought a total of 914,353 shares of company stock valued at $8,916,253 in the last ninety days. 5.77% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC purchased a new stake in shares of Lexicon Pharmaceuticals in the 3rd quarter valued at $149,000. Parametric Portfolio Associates LLC bought a new stake in Lexicon Pharmaceuticals during the 2nd quarter valued at $182,000. C WorldWide Group Holding A S raised its holdings in Lexicon Pharmaceuticals by 49.6% during the 3rd quarter. C WorldWide Group Holding A S now owns 16,146 shares of the biopharmaceutical company’s stock valued at $198,000 after buying an additional 5,353 shares during the last quarter. Legal & General Group Plc raised its holdings in Lexicon Pharmaceuticals by 2.6% during the 2nd quarter. Legal & General Group Plc now owns 18,570 shares of the biopharmaceutical company’s stock valued at $305,000 after buying an additional 465 shares during the last quarter. Finally, First Trust Advisors LP bought a new stake in Lexicon Pharmaceuticals during the 3rd quarter valued at $360,000.

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About Lexicon Pharmaceuticals

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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