HC Wainwright Reiterates Buy Rating for Lexicon Pharmaceuticals (NASDAQ:LXRX)

Lexicon Pharmaceuticals (NASDAQ:LXRX)‘s stock had its “buy” rating reiterated by HC Wainwright in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $10.00 price target on the biopharmaceutical company’s stock.

Separately, StockNews.com raised Lexicon Pharmaceuticals to a “sell” rating in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Lexicon Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $7.50.

Lexicon Pharmaceuticals Trading Up 3.9 %

Shares of NASDAQ:LXRX opened at $1.60 on Friday. The company has a 50 day moving average of $1.77 and a 200-day moving average of $1.84. The company has a current ratio of 11.51, a quick ratio of 11.49 and a debt-to-equity ratio of 0.41. The firm has a market cap of $393.98 million, a P/E ratio of -1.93 and a beta of 1.33. Lexicon Pharmaceuticals has a twelve month low of $0.92 and a twelve month high of $3.73.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.01. Lexicon Pharmaceuticals had a negative return on equity of 105.38% and a negative net margin of 5,509.34%. The firm had revenue of $1.65 million during the quarter, compared to analyst estimates of $2.74 million. During the same period last year, the company posted ($0.22) EPS. As a group, analysts anticipate that Lexicon Pharmaceuticals will post -0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LXRX. Cantor Fitzgerald L. P. bought a new stake in shares of Lexicon Pharmaceuticals during the 4th quarter worth $25,000. BVF Inc. IL boosted its position in shares of Lexicon Pharmaceuticals by 22.2% in the 4th quarter. BVF Inc. IL now owns 24,435,632 shares of the biopharmaceutical company’s stock valued at $37,387,000 after purchasing an additional 4,440,300 shares during the period. Pinnacle Associates Ltd. increased its stake in Lexicon Pharmaceuticals by 1.0% in the 1st quarter. Pinnacle Associates Ltd. now owns 1,747,830 shares of the biopharmaceutical company’s stock worth $4,195,000 after purchasing an additional 17,009 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its stake in Lexicon Pharmaceuticals by 65.7% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 46,930 shares of the biopharmaceutical company’s stock worth $113,000 after purchasing an additional 18,601 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Lexicon Pharmaceuticals by 82.6% during the 1st quarter. BNP Paribas Financial Markets now owns 59,378 shares of the biopharmaceutical company’s stock worth $143,000 after buying an additional 26,859 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.