Lexicon Pharmaceuticals (NASDAQ:LXRX) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning, Zacks.com reports.

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. “

Other analysts have also recently issued research reports about the company. G.Research cut Lexicon Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, December 11th. BidaskClub cut Lexicon Pharmaceuticals from a hold rating to a sell rating in a report on Tuesday, January 28th. Gabelli cut Lexicon Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, December 11th. They noted that the move was a valuation call. Citigroup cut Lexicon Pharmaceuticals from a buy rating to a neutral rating and increased their target price for the stock from $3.00 to $4.00 in a report on Friday, November 8th. Finally, ValuEngine upgraded Lexicon Pharmaceuticals from a sell rating to a hold rating in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $6.30.

Shares of LXRX stock opened at $2.90 on Tuesday. The stock’s fifty day moving average is $3.66 and its 200-day moving average is $3.19. The company has a debt-to-equity ratio of 1.42, a quick ratio of 8.01 and a current ratio of 8.11. The stock has a market capitalization of $308.19 million, a PE ratio of 2.13 and a beta of 1.07. Lexicon Pharmaceuticals has a 52 week low of $1.13 and a 52 week high of $8.39.

A number of institutional investors have recently bought and sold shares of LXRX. Marshall Wace LLP bought a new position in Lexicon Pharmaceuticals in the fourth quarter valued at about $3,531,000. Bank of New York Mellon Corp boosted its holdings in Lexicon Pharmaceuticals by 329.0% in the fourth quarter. Bank of New York Mellon Corp now owns 794,876 shares of the biopharmaceutical company’s stock valued at $3,299,000 after acquiring an additional 609,611 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Lexicon Pharmaceuticals by 1,243.2% in the fourth quarter. AQR Capital Management LLC now owns 588,446 shares of the biopharmaceutical company’s stock valued at $2,442,000 after acquiring an additional 544,636 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Lexicon Pharmaceuticals by 80.8% in the fourth quarter. Renaissance Technologies LLC now owns 1,203,178 shares of the biopharmaceutical company’s stock valued at $4,993,000 after acquiring an additional 537,799 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in Lexicon Pharmaceuticals in the third quarter valued at about $1,590,000. Institutional investors and hedge funds own 96.37% of the company’s stock.

About Lexicon Pharmaceuticals

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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