Lexicon Pharmaceuticals (NASDAQ:LXRX) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright restated their buy rating on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a research note released on Tuesday, Benzinga reports. They currently have a $10.00 target price on the biopharmaceutical company’s stock.

Other equities research analysts also recently issued reports about the company. Leerink Partnrs reaffirmed an outperform rating on shares of Lexicon Pharmaceuticals in a report on Tuesday, April 30th. StockNews.com upgraded shares of Lexicon Pharmaceuticals to a sell rating in a report on Tuesday, July 9th. SVB Leerink assumed coverage on shares of Lexicon Pharmaceuticals in a report on Tuesday, April 30th. They set an outperform rating and a $5.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Lexicon Pharmaceuticals in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of Hold and an average target price of $6.67.

Lexicon Pharmaceuticals Stock Performance

Shares of LXRX opened at $1.99 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 15.58 and a quick ratio of 15.56. The firm’s 50 day moving average is $1.79 and its 200-day moving average is $1.96. Lexicon Pharmaceuticals has a 12-month low of $0.92 and a 12-month high of $3.73. The stock has a market capitalization of $490.02 million, a P/E ratio of -2.40 and a beta of 1.35.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.02). Lexicon Pharmaceuticals had a negative return on equity of 108.54% and a negative net margin of 8,311.12%. The business had revenue of $1.13 million during the quarter, compared to analyst estimates of $1.17 million. Equities research analysts anticipate that Lexicon Pharmaceuticals will post -0.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. BVF Inc. IL boosted its holdings in shares of Lexicon Pharmaceuticals by 22.2% during the fourth quarter. BVF Inc. IL now owns 24,435,632 shares of the biopharmaceutical company’s stock worth $37,387,000 after purchasing an additional 4,440,300 shares during the period. Vanguard Group Inc. lifted its position in Lexicon Pharmaceuticals by 7.0% in the 1st quarter. Vanguard Group Inc. now owns 6,401,225 shares of the biopharmaceutical company’s stock worth $15,363,000 after buying an additional 420,854 shares in the last quarter. Pinnacle Associates Ltd. boosted its stake in shares of Lexicon Pharmaceuticals by 1.0% during the 1st quarter. Pinnacle Associates Ltd. now owns 1,747,830 shares of the biopharmaceutical company’s stock valued at $4,195,000 after buying an additional 17,009 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Lexicon Pharmaceuticals during the 2nd quarter valued at $912,000. Finally, Boulder Hill Capital Management LP acquired a new position in shares of Lexicon Pharmaceuticals in the first quarter worth $615,000. Hedge funds and other institutional investors 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.