Analysts’ Recent Ratings Updates for Lexicon Pharmaceuticals (LXRX)

Lexicon Pharmaceuticals (NASDAQ: LXRX) recently received a number of ratings updates from brokerages and research firms:

  • 5/2/2019 – Lexicon Pharmaceuticals had its “hold” rating reaffirmed by analysts at Needham & Company LLC. They wrote, “Lexicon reported 1Q19 U.S. Xermelo sales of $6.7M, below our $8.0M est. Mgmt reiterated 2019 guidance for 20+% y/y U.S. sales growth. Sanofi and Lexicon announced Zynquista approval for by EMA 4/26/19. Lexicon is entitled to a milestone payment in 2Q19 tied to the approval, which we estimate to be around $30M. Discussions w/ FDA around CRL in T1D are planned. No guidance on timing. We previously removed the revenue stream from our model. The first of several Phase 3 T2D trials are expected to generate results beginning in 2Q19 (metformin combination first). We believe the stock is likely to become more attractive if Zynquista is sufficiently differentiated from SGLT2 drugs in T2D, particularly around renal impairment. Maintain HOLD.””
  • 4/29/2019 – Lexicon Pharmaceuticals had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $35.00 price target on the stock, up previously from $34.00.
  • 4/18/2019 – Lexicon Pharmaceuticals was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 4/11/2019 – Lexicon Pharmaceuticals was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 4/1/2019 – Lexicon Pharmaceuticals was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 3/27/2019 – Lexicon Pharmaceuticals was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 3/25/2019 – Lexicon Pharmaceuticals was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 3/25/2019 – Lexicon Pharmaceuticals was upgraded by analysts at Gabelli from a “sell” rating to a “hold” rating.
  • 3/25/2019 – Lexicon Pharmaceuticals had its “hold” rating reaffirmed by analysts at Needham & Company LLC. They wrote, “Lexicon and collaborator Sanofi announced Friday that the FDA issued a Complete Response Letter (CRL) for Diabetes (T1D). Mgmt did not provide details around FDA concerns. As a reminder, an FDA Advisory Committee voted 8-8 on Zynquista approval at a Jan 2018 mtg. Diabetic Ketoacidosis was the focus of the mtg and nearly all members, regardless of vote, believed that the drug would only be appropriate for a small subset of particularly attentive T1D patients. We expect the drug to ultimately be approved for but not in the near future. We expect an update from the matter by mid-2019. A positive CHMP opinion for Zynquista in T1D was recently issued by European regulators and we expect formal approval in 2Q19. Maintain HOLD, but we believe the stock becomes more attractive w/ confirmation of differentiated Zynquista profile in T2D.””
  • 3/25/2019 – Lexicon Pharmaceuticals had its price target lowered by analysts at Stifel Nicolaus from $14.00 to $10.00. They now have a “buy” rating on the stock.
  • 3/14/2019 – Lexicon Pharmaceuticals was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 3/13/2019 – Lexicon Pharmaceuticals was downgraded by analysts at Gabelli from a “hold” rating to a “sell” rating.
  • 3/12/2019 – Lexicon Pharmaceuticals was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 3/4/2019 – Lexicon Pharmaceuticals had its price target raised by analysts at Wedbush from $36.00 to $38.00. They now have an “outperform” rating on the stock.

Shares of LXRX traded down $0.05 during mid-day trading on Thursday, reaching $5.92. 11,436 shares of the stock traded hands, compared to its average volume of 620,535. The firm has a market capitalization of $616.38 million, a P/E ratio of -5.19 and a beta of 0.72. Lexicon Pharmaceuticals, Inc. has a 1 year low of $4.25 and a 1 year high of $13.97.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.21) EPS for the quarter, meeting analysts’ consensus estimates of ($0.21). The firm had revenue of $9.20 million during the quarter, compared to analyst estimates of $13.26 million. Lexicon Pharmaceuticals had a negative net margin of 192.53% and a negative return on equity of 911.43%. The business’s revenue for the quarter was down 63.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.40) EPS. Research analysts forecast that Lexicon Pharmaceuticals, Inc. will post -0.59 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Manhattan Co. purchased a new position in Lexicon Pharmaceuticals in the first quarter worth $15,282,000. Clearbridge Investments LLC grew its position in Lexicon Pharmaceuticals by 974,268.4% in the third quarter. Clearbridge Investments LLC now owns 1,295,910 shares of the biopharmaceutical company’s stock worth $13,827,000 after acquiring an additional 1,295,777 shares in the last quarter. D. E. Shaw & Co. Inc. grew its position in Lexicon Pharmaceuticals by 181.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 268,476 shares of the biopharmaceutical company’s stock worth $1,783,000 after acquiring an additional 173,096 shares in the last quarter. Norges Bank purchased a new position in Lexicon Pharmaceuticals in the fourth quarter worth $1,005,000. Finally, Two Sigma Investments LP grew its position in Lexicon Pharmaceuticals by 70.0% in the fourth quarter. Two Sigma Investments LP now owns 313,877 shares of the biopharmaceutical company’s stock worth $2,084,000 after acquiring an additional 129,215 shares in the last quarter.

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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