Gabelli Analysts Boost Earnings Estimates for Lexicon Pharmaceuticals Inc. (LXRX)
Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX) – Research analysts at Gabelli boosted their FY2019 EPS estimates for Lexicon Pharmaceuticals in a note issued to investors on Friday. Gabelli analyst K. Kedra now forecasts that the firm will post earnings per share of $0.70 for the year, up from their previous forecast of $0.55.
Other equities analysts have also issued reports about the company. Wedbush reissued an “outperform” rating and set a $33.00 price objective on shares of Lexicon Pharmaceuticals in a report on Tuesday. Citigroup Inc. increased their price objective on Lexicon Pharmaceuticals from $21.00 to $25.00 and gave the company a “buy” rating in a report on Monday, September 12th. Stifel Nicolaus increased their price objective on Lexicon Pharmaceuticals from $25.00 to $26.00 and gave the company a “buy” rating in a report on Friday, August 5th. Zacks Investment Research lowered Lexicon Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, August 11th. Finally, Needham & Company LLC reissued a “buy” rating and set a $21.00 price objective on shares of Lexicon Pharmaceuticals in a report on Monday, September 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $20.93.
Lexicon Pharmaceuticals (NASDAQ:LXRX) traded up 1.90% during trading on Monday, hitting $19.27. The stock had a trading volume of 497,865 shares. The company has a 50-day moving average of $15.99 and a 200-day moving average of $14.14. The stock’s market capitalization is $2.00 billion. Lexicon Pharmaceuticals has a 52 week low of $7.65 and a 52 week high of $19.46.
Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.04. Lexicon Pharmaceuticals had a negative return on equity of 9.03% and a negative net margin of 13.42%. The company earned $20.10 million during the quarter, compared to analysts’ expectations of $12.36 million. During the same quarter in the previous year, the firm earned ($0.27) EPS. Lexicon Pharmaceuticals’s revenue was up 5186.8% on a year-over-year basis.
Several institutional investors have recently bought and sold shares of LXRX. Acadian Asset Management LLC bought a new position in Lexicon Pharmaceuticals during the second quarter worth approximately $863,000. Eagle Asset Management Inc. increased its stake in shares of Lexicon Pharmaceuticals by 13.3% in the second quarter. Eagle Asset Management Inc. now owns 1,678,732 shares of the biopharmaceutical company’s stock worth $24,089,000 after buying an additional 196,759 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Lexicon Pharmaceuticals during the second quarter worth about $274,000. Royal Bank of Canada increased its stake in shares of Lexicon Pharmaceuticals by 4,805.5% in the first quarter. Royal Bank of Canada now owns 31,886 shares of the biopharmaceutical company’s stock worth $381,000 after buying an additional 31,236 shares during the period. Finally, Bridger Management LLC acquired a new stake in shares of Lexicon Pharmaceuticals during the first quarter worth about $12,308,000.
About Lexicon Pharmaceuticals
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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