Lexicon Pharmaceuticals (NASDAQ:LXRX) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Lexicon Pharmaceuticals (NASDAQ:LXRXGet Rating) from a hold rating to a buy rating in a report released on Saturday morning, Zacks.com reports. Zacks Investment Research currently has $2.00 target price on the biopharmaceutical company’s stock.

According to Zacks, “Lexicon Genetics Incorporated is a leader in defining the functions of genes for drug discovery using large-scale knockout mouse technology. Lexicon has invented high-throughput gene trapping technology to discover thousands of genes and expand its OmniBank library of tens of thousands of mouse clones. The Company uses an integrated platform of functional genomic technologies to accelerate large-scale analysis of mammalian gene function for drug discovery. “

Separately, StockNews.com began coverage on shares of Lexicon Pharmaceuticals in a research report on Thursday, March 31st. They issued a sell rating on the stock.

Shares of NASDAQ:LXRX opened at $1.74 on Friday. The firm has a fifty day moving average of $2.02 and a two-hundred day moving average of $2.99. Lexicon Pharmaceuticals has a 12-month low of $1.56 and a 12-month high of $6.33. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.68 and a quick ratio of 4.68.

Lexicon Pharmaceuticals (NASDAQ:LXRXGet Rating) last announced its earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.16) EPS for the quarter, hitting the consensus estimate of ($0.16). The firm had revenue of $0.04 million for the quarter. Lexicon Pharmaceuticals had a negative net margin of 29,310.39% and a negative return on equity of 75.21%. During the same quarter last year, the business earned ($0.15) EPS. On average, equities analysts predict that Lexicon Pharmaceuticals will post 0.05 EPS for the current year.

A number of large investors have recently modified their holdings of LXRX. Bank of Montreal Can acquired a new position in shares of Lexicon Pharmaceuticals in the first quarter valued at approximately $26,000. Teacher Retirement System of Texas acquired a new stake in Lexicon Pharmaceuticals in the fourth quarter valued at $43,000. Equitable Holdings Inc. acquired a new stake in Lexicon Pharmaceuticals in the fourth quarter valued at $45,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Lexicon Pharmaceuticals in the fourth quarter valued at $50,000. Finally, Adviser Investments LLC bought a new position in shares of Lexicon Pharmaceuticals in the fourth quarter valued at about $52,000. 90.91% of the stock is owned by hedge funds and other institutional investors.

Lexicon Pharmaceuticals Company Profile (Get Rating)

Lexicon Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of pharmaceutical products. Its orally-delivered small molecule drug candidates under development comprise Sotagliflozin that completed Phase III clinical trials for the for the treatment of heart failure and type 1 diabetes; and LX9211, which is in Phase II clinical development for the treatment of neuropathic pain.

See Also

Get a free copy of the Zacks research report on Lexicon Pharmaceuticals (LXRX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Lexicon Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lexicon Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.