Lexicon Pharmaceuticals (NASDAQ:LXRX) Receives Buy Rating from HC Wainwright

Lexicon Pharmaceuticals (NASDAQ:LXRX)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They presently have a $4.00 target price on the biopharmaceutical company’s stock.

A number of other equities research analysts also recently commented on LXRX. StockNews.com assumed coverage on Lexicon Pharmaceuticals in a research report on Friday. They issued a “sell” rating for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Monday, March 3rd. Piper Sandler lowered their price objective on shares of Lexicon Pharmaceuticals from $10.00 to $6.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Leerink Partnrs downgraded Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Finally, Leerink Partners restated a “market perform” rating and set a $1.00 price target (down from $2.00) on shares of Lexicon Pharmaceuticals in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Lexicon Pharmaceuticals has an average rating of “Hold” and a consensus price target of $3.67.

Lexicon Pharmaceuticals Price Performance

Shares of LXRX stock traded up $0.29 during mid-day trading on Friday, reaching $0.64. The stock had a trading volume of 357,530,115 shares, compared to its average volume of 5,448,876. The company has a market cap of $157.84 million, a P/E ratio of -0.84 and a beta of 1.04. The company has a current ratio of 7.45, a quick ratio of 7.43 and a debt-to-equity ratio of 0.56. Lexicon Pharmaceuticals has a 12-month low of $0.28 and a 12-month high of $2.47. The business has a 50-day simple moving average of $0.61 and a 200 day simple moving average of $1.01.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its quarterly earnings data on Thursday, March 6th. The biopharmaceutical company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. The firm had revenue of $26.55 million for the quarter, compared to analysts’ expectations of $6.48 million. Lexicon Pharmaceuticals had a negative net margin of 4,109.41% and a negative return on equity of 107.38%. On average, sell-side analysts anticipate that Lexicon Pharmaceuticals will post -0.66 earnings per share for the current year.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System increased its holdings in Lexicon Pharmaceuticals by 29.9% in the 4th quarter. California State Teachers Retirement System now owns 195,215 shares of the biopharmaceutical company’s stock valued at $144,000 after purchasing an additional 44,915 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Lexicon Pharmaceuticals by 193.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 353,508 shares of the biopharmaceutical company’s stock valued at $261,000 after buying an additional 233,121 shares in the last quarter. Tang Capital Management LLC lifted its position in Lexicon Pharmaceuticals by 750.3% during the 4th quarter. Tang Capital Management LLC now owns 850,268 shares of the biopharmaceutical company’s stock worth $628,000 after acquiring an additional 750,268 shares in the last quarter. Point72 Asset Management L.P. lifted its position in Lexicon Pharmaceuticals by 630.7% during the 4th quarter. Point72 Asset Management L.P. now owns 8,988,421 shares of the biopharmaceutical company’s stock worth $6,638,000 after acquiring an additional 7,758,371 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in Lexicon Pharmaceuticals by 378.0% in the 4th quarter. Deutsche Bank AG now owns 315,659 shares of the biopharmaceutical company’s stock worth $234,000 after acquiring an additional 249,616 shares during the period. Institutional investors and hedge funds own 74.70% of the company’s stock.

Lexicon Pharmaceuticals Company Profile

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 and LX2761, which is in Phase I clinical development for gastrointestinal tract.