Lexicon Pharmaceuticals (NASDAQ:LXRX) Price Target Cut to $3.00

Lexicon Pharmaceuticals (NASDAQ:LXRX) had its target price cut by Citigroup from $15.00 to $3.00 in a research report released on Tuesday morning, BenzingaRatingsTable reports. They currently have a buy rating on the biopharmaceutical company’s stock.

A number of other equities analysts also recently weighed in on LXRX. Wedbush set a $175.00 target price on Lululemon Athletica and gave the company a hold rating in a report on Tuesday, June 11th. ValuEngine downgraded Wolverine World Wide from a hold rating to a sell rating in a report on Monday, May 20th. Zacks Investment Research upgraded HB Fuller from a sell rating to a hold rating in a report on Wednesday, July 3rd. Stifel Nicolaus reiterated a buy rating and issued a $34.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday. Finally, Needham & Company LLC upped their target price on Alteryx to $108.00 and gave the company a buy rating in a report on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $12.13.

NASDAQ LXRX opened at $1.42 on Tuesday. The business’s 50-day moving average is $5.73. The firm has a market cap of $176.41 million, a P/E ratio of -1.25 and a beta of 0.84. Lexicon Pharmaceuticals has a 1 year low of $1.46 and a 1 year high of $12.17.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.21). The company had revenue of $9.20 million for the quarter, compared to analyst estimates of $13.26 million. Lexicon Pharmaceuticals’s quarterly revenue was down 63.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.40) EPS. As a group, analysts anticipate that Lexicon Pharmaceuticals will post -0.47 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA increased its holdings in shares of Lexicon Pharmaceuticals by 940.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 9,934 shares of the biopharmaceutical company’s stock valued at $55,000 after purchasing an additional 8,979 shares during the period. Wealth & Pension Services Group Inc. bought a new stake in shares of Lexicon Pharmaceuticals in the 1st quarter valued at approximately $60,000. Paloma Partners Management Co bought a new stake in shares of Lexicon Pharmaceuticals in the 4th quarter valued at approximately $73,000. Metropolitan Life Insurance Co. NY grew its stake in shares of Lexicon Pharmaceuticals by 409.3% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 14,760 shares of the biopharmaceutical company’s stock valued at $98,000 after buying an additional 11,862 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC grew its stake in shares of Lexicon Pharmaceuticals by 67.2% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 20,648 shares of the biopharmaceutical company’s stock valued at $130,000 after buying an additional 8,302 shares in the last quarter. Institutional investors own 98.27% of the company’s stock.

Lexicon Pharmaceuticals Company Profile

Lexicon Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of pharmaceutical products. The company offers XERMELO, an orally-delivered small molecule drug candidate for the treatment of carcinoid syndrome diarrhea in combination with somatostatin analog therapy in adults.

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Analyst Recommendations for Lexicon Pharmaceuticals (NASDAQ:LXRX)

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