Lexicon Pharmaceuticals’ (LXRX) Hold Rating Reiterated at Needham & Company LLC

Lexicon Pharmaceuticals (NASDAQ:LXRX)‘s stock had its “hold” rating reaffirmed by investment analysts at Needham & Company LLC in a report issued on Wednesday, Benzinga reports.

Several other analysts have also recently commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $10.00 price target on shares of Lexicon Pharmaceuticals in a research note on Wednesday, October 23rd. StockNews.com upgraded Lexicon Pharmaceuticals to a “sell” rating in a research report on Tuesday, July 9th. Finally, Leerink Partners set a $6.00 price target on Lexicon Pharmaceuticals and gave the company an “outperform” rating in a report on Friday, October 18th. 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 stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $8.00.

Lexicon Pharmaceuticals Stock Performance

Shares of LXRX opened at $1.95 on Wednesday. The business’s 50 day moving average is $1.73 and its 200 day moving average is $1.77. The company has a debt-to-equity ratio of 0.41, a current ratio of 11.51 and a quick ratio of 11.49. Lexicon Pharmaceuticals has a 12-month low of $0.92 and a 12-month high of $3.73.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.01. Lexicon Pharmaceuticals had a negative net margin of 5,509.34% and a negative return on equity of 105.38%. The firm had revenue of $1.65 million for the quarter, compared to the consensus estimate of $2.74 million. During the same quarter in the previous year, the firm earned ($0.22) earnings per share. Equities research analysts expect that Lexicon Pharmaceuticals will post -0.69 EPS for the current fiscal year.

Institutional Trading of Lexicon Pharmaceuticals

A number of large investors have recently made changes to their positions in the business. CVI Holdings LLC purchased a new position in Lexicon Pharmaceuticals in the second quarter worth about $34,000. Principal Financial Group Inc. boosted its holdings in shares of Lexicon Pharmaceuticals by 116.1% in the 2nd quarter. Principal Financial Group Inc. now owns 22,759 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 12,225 shares during the period. Great Point Partners LLC bought a new position in shares of Lexicon Pharmaceuticals during the 2nd quarter valued at approximately $50,000. SG Americas Securities LLC raised its holdings in Lexicon Pharmaceuticals by 107.6% during the 3rd quarter. SG Americas Securities LLC now owns 46,090 shares of the biopharmaceutical company’s stock valued at $72,000 after buying an additional 23,893 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Lexicon Pharmaceuticals by 44.5% in the second quarter. Victory Capital Management Inc. now owns 45,341 shares of the biopharmaceutical company’s stock worth $76,000 after buying an additional 13,972 shares during the last quarter. 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.