Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX) traded down 4.5% during mid-day trading on Tuesday . The company traded as low as $15.95 and last traded at $15.96, with a volume of 266,802 shares trading hands. The stock had previously closed at $16.72.

A number of equities research analysts have issued reports on the company. Citigroup Inc. assumed coverage on Lexicon Pharmaceuticals in a research note on Tuesday. They set a “buy” rating and a $21.00 price target for the company. JPMorgan Chase & Co. restated a “hold” rating and set a $16.00 price target on shares of Lexicon Pharmaceuticals in a research note on Thursday, May 5th. Wedbush reaffirmed an “outperform” rating and set a $28.00 price objective on shares of Lexicon Pharmaceuticals in a research report on Friday, May 6th. Cowen and Company reaffirmed a “market perform” rating on shares of Lexicon Pharmaceuticals in a research report on Tuesday, May 3rd. Finally, Zacks Investment Research cut Lexicon Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, July 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $18.92.

The firm’s market cap is $1.66 billion. The company has a 50-day moving average price of $14.67 and a 200-day moving average price of $12.58.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its quarterly earnings results on Tuesday, May 3rd. The biopharmaceutical company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by $0.04. During the same period in the previous year, the business posted ($0.04) EPS. The business earned $12.50 million during the quarter, compared to the consensus estimate of $11.11 million. The business’s revenue was up 594.4% compared to the same quarter last year. Equities analysts anticipate that Lexicon Pharmaceuticals Inc. will post ($1.55) earnings per share for the current year.

In other Lexicon Pharmaceuticals news, VP James F. Tessmer sold 6,000 shares of the stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $13.00, for a total value of $78,000.00. Following the completion of the sale, the vice president now directly owns 21,946 shares in the company, valued at $285,298. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Several hedge funds and institutional investors have recently made changes to their positions in LXRX. New York State Common Retirement Fund raised its position 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 worth $2,358,000 after buying an additional 125,083 shares in the last quarter. California State Teachers Retirement System raised its position 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 worth $1,024,000 after buying an additional 1,372 shares in the last quarter. Finally, Nationwide Fund Advisors raised its position 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 worth $1,862,000 after buying an additional 77,446 shares in the last quarter.

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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