Lexicon Pharmaceuticals Inc. (LXRX) Shares Gap Up to $15.25
Shares of Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX) gapped up before the market opened on Thursday . The stock had previously closed at $15.23, but opened at $15.25. Lexicon Pharmaceuticals shares last traded at $15.53, with a volume of 175,854 shares trading hands.
A number of analysts have recently weighed in on LXRX shares. Wedbush increased their price objective on Lexicon Pharmaceuticals from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, May 31st. Needham & Company LLC reissued a “buy” rating and set a $21.00 price objective on shares of Lexicon Pharmaceuticals in a research note on Wednesday, May 4th. Zacks Investment Research lowered Lexicon Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, May 6th. Cowen and Company reissued a “market perform” rating on shares of Lexicon Pharmaceuticals in a research note on Tuesday, May 3rd. Finally, JPMorgan Chase & Co. reissued a “hold” rating and set a $16.00 price objective on shares of Lexicon Pharmaceuticals in a research note on Thursday, May 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Lexicon Pharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $18.50.
The firm’s 50 day moving average price is $14.37 and its 200-day moving average price is $12.34. The company’s market capitalization is $1.60 billion.
Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its earnings results on Tuesday, May 3rd. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by $0.04. The company earned $12.50 million during the quarter, compared to the consensus estimate of $11.11 million. The company’s revenue for the quarter was up 594.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.04) earnings per share. On average, equities research analysts forecast that Lexicon Pharmaceuticals Inc. will post ($1.55) EPS for the current year.
In related news, VP James F. Tessmer sold 6,000 shares of Lexicon Pharmaceuticals stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $13.00, for a total transaction of $78,000.00. Following the sale, the vice president now owns 21,946 shares of the company’s stock, valued at approximately $285,298. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
A number of hedge funds have modified their holdings of the stock. California State Teachers Retirement System increased its stake in shares of Lexicon Pharmaceuticals by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 76,947 shares of the biopharmaceutical company’s stock valued at $1,024,000 after buying an additional 1,372 shares during the period. ProShare Advisors LLC increased its stake in shares of Lexicon Pharmaceuticals by 7.7% in the fourth quarter. ProShare Advisors LLC now owns 89,382 shares of the biopharmaceutical company’s stock valued at $1,190,000 after buying an additional 6,390 shares during the period. Nationwide Fund Advisors increased its stake in shares of Lexicon Pharmaceuticals by 124.1% in the fourth quarter. Nationwide Fund Advisors now owns 139,876 shares of the biopharmaceutical company’s stock valued at $1,862,000 after buying an additional 77,446 shares during the period. Finally, New York State Common Retirement Fund increased its stake in shares of Lexicon Pharmaceuticals by 240.2% in the fourth quarter. New York State Common Retirement Fund now owns 177,168 shares of the biopharmaceutical company’s stock valued at $2,358,000 after buying an additional 125,083 shares during the period.
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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