Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX) shares dropped 3.6% during mid-day trading on Tuesday . The company traded as low as $15.64 and last traded at $15.65, with a volume of 1,229,639 shares traded. The stock had previously closed at $16.24.

LXRX has been the topic of a number of research reports. Wedbush raised their price target on Lexicon Pharmaceuticals from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 31st. Zacks Investment Research downgraded Lexicon Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, July 6th. Needham & Company LLC restated a “buy” rating on shares of Lexicon Pharmaceuticals in a research note on Thursday, August 11th. Citigroup Inc. initiated coverage on Lexicon Pharmaceuticals in a research note on Tuesday, August 2nd. They set a “buy” rating and a $21.00 price target on the stock. Finally, Stifel Nicolaus raised their price target on Lexicon Pharmaceuticals from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $20.07.

The firm’s 50-day moving average is $15.41 and its 200 day moving average is $13.03. The company’s market cap is $1.63 billion.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.37) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.41) by $0.04. The business earned $20.10 million during the quarter, compared to analyst estimates of $12.36 million. The company’s revenue was up 5186.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.27) EPS. Analysts predict that Lexicon Pharmaceuticals Inc. will post ($1.54) earnings per share for the current fiscal year.

In related news, VP James F. Tessmer sold 6,000 shares of the business’s 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 transaction, the vice president now owns 21,946 shares in the company, valued at $285,298. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

A hedge fund recently raised its stake in Lexicon Pharmaceuticals stock. New York State Common Retirement Fund raised its stake in Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX) by 240.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 177,168 shares of the biopharmaceutical company’s stock after buying an additional 125,083 shares during the period. New York State Common Retirement Fund owned about 0.17% of Lexicon Pharmaceuticals worth $2,358,000 as of its most recent SEC filing.

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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