Lexicon Pharmaceuticals’ (LXRX) Buy Rating Reaffirmed at HC Wainwright

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

Several other research analysts have also commented on the company. Leerink Partnrs lowered Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Leerink Partners reiterated a “market perform” rating and issued a $1.00 price target (down previously from $2.00) on shares of Lexicon Pharmaceuticals in a research report on Tuesday, March 4th. Piper Sandler decreased their price target 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. Needham & Company LLC restated a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Monday, March 3rd. Finally, StockNews.com started coverage on shares of Lexicon Pharmaceuticals in a report on Friday. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $3.67.

Lexicon Pharmaceuticals Stock Up 84.4 %

NASDAQ:LXRX traded up $0.29 during trading hours on Friday, hitting $0.64. The company’s stock had a trading volume of 357,530,115 shares, compared to its average volume of 5,448,876. The stock has a market capitalization 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. The stock has a fifty day moving average of $0.61 and a 200-day moving average of $1.01. Lexicon Pharmaceuticals has a 52-week low of $0.28 and a 52-week high of $2.47.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last announced its quarterly earnings results on Thursday, March 6th. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. The firm had revenue of $26.55 million during 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, equities analysts forecast that Lexicon Pharmaceuticals will post -0.66 earnings per share for the current year.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

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

About Lexicon Pharmaceuticals

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.