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

HC Wainwright reissued their buy rating on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a report issued on Wednesday,Benzinga reports. The brokerage currently has a $4.00 price objective on the biopharmaceutical company’s stock.

A number of other research firms also recently weighed in on LXRX. Leerink Partners set a $6.00 price target on Lexicon Pharmaceuticals and gave the company an “outperform” rating in a research note on Friday, October 18th. Needham & Company LLC reiterated a “hold” rating on shares of Lexicon Pharmaceuticals in a report on Monday, December 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lexicon Pharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $5.00.

Lexicon Pharmaceuticals Price Performance

Shares of LXRX stock opened at $0.83 on Wednesday. The firm has a market cap of $203.22 million, a price-to-earnings ratio of -1.10 and a beta of 1.06. Lexicon Pharmaceuticals has a 12 month low of $0.62 and a 12 month high of $3.73. The company has a quick ratio of 7.43, a current ratio of 7.45 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average price of $0.79 and a 200 day moving average price of $1.38.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.01). Lexicon Pharmaceuticals had a negative return on equity of 107.38% and a negative net margin of 4,109.41%. The business had revenue of $1.75 million for the quarter, compared to analyst estimates of $3.14 million. During the same quarter in the prior year, the firm earned ($0.21) EPS. Research analysts expect that Lexicon Pharmaceuticals will post -0.66 EPS for the current year.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Compagnie Lombard Odier SCmA grew its holdings in shares of Lexicon Pharmaceuticals by 6.4% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 100,000 shares of the biopharmaceutical company’s stock valued at $157,000 after buying an additional 6,000 shares during the period. BNP Paribas Financial Markets lifted its holdings 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 in the last quarter. The Manufacturers Life Insurance Company grew its stake in Lexicon Pharmaceuticals by 40.5% in the second quarter. The Manufacturers Life Insurance Company now owns 49,957 shares of the biopharmaceutical company’s stock valued at $84,000 after acquiring an additional 14,411 shares during the period. Pinnacle Associates Ltd. increased its holdings in shares of Lexicon Pharmaceuticals by 0.9% in the third quarter. Pinnacle Associates Ltd. now owns 1,730,821 shares of the biopharmaceutical company’s stock worth $2,648,000 after acquiring an additional 14,990 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Lexicon Pharmaceuticals by 107.6% during the third quarter. SG Americas Securities LLC now owns 46,090 shares of the biopharmaceutical company’s stock worth $72,000 after purchasing an additional 23,893 shares during the period. 74.70% of the stock is currently owned by institutional investors and hedge funds.

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.