Needham & Company LLC Reaffirms “Hold” Rating for Lexicon Pharmaceuticals (NASDAQ:LXRX)

Lexicon Pharmaceuticals (NASDAQ:LXRX)‘s stock had its “hold” rating reiterated by equities research analysts at Needham & Company LLC in a note issued to investors on Wednesday,Benzinga reports.

A number of other analysts also recently weighed in on LXRX. Leerink Partners set a $6.00 price target on shares of Lexicon Pharmaceuticals and gave the stock an “outperform” rating in a research report on Friday, October 18th. HC Wainwright reissued a “buy” rating and set a $6.00 price objective on shares of Lexicon Pharmaceuticals in a report on Wednesday. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Lexicon Pharmaceuticals currently has an average rating of “Hold” and a consensus target price of $6.00.

Lexicon Pharmaceuticals Trading Down 2.8 %

Shares of LXRX opened at $1.06 on Wednesday. Lexicon Pharmaceuticals has a one year low of $1.01 and a one year high of $3.73. The stock has a 50-day moving average price of $1.64 and a 200 day moving average price of $1.74. The company has a debt-to-equity ratio of 0.41, a quick ratio of 11.49 and a current ratio of 11.51. The company has a market capitalization of $261.01 million, a P/E ratio of -1.45 and a beta of 1.24.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Lexicon Pharmaceuticals during the third quarter valued at $189,000. BBR Partners LLC grew its position in shares of Lexicon Pharmaceuticals by 74.1% during the 3rd quarter. BBR Partners LLC now owns 470,000 shares of the biopharmaceutical company’s stock valued at $738,000 after buying an additional 200,000 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Lexicon Pharmaceuticals by 71.2% during the third quarter. BNP Paribas Financial Markets now owns 31,853 shares of the biopharmaceutical company’s stock worth $50,000 after acquiring an additional 13,246 shares during the period. FMR LLC lifted its holdings in Lexicon Pharmaceuticals by 28.9% in the third quarter. FMR LLC now owns 49,867,042 shares of the biopharmaceutical company’s stock worth $78,291,000 after acquiring an additional 11,179,919 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Lexicon Pharmaceuticals by 4.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,417,295 shares of the biopharmaceutical company’s stock valued at $2,225,000 after acquiring an additional 58,147 shares during the period. 74.70% of the stock is currently owned by institutional investors.

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.