StockNews.com Initiates Coverage on Lexicon Pharmaceuticals (NASDAQ:LXRX)

StockNews.com started coverage on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a research note published on Thursday. The firm issued a sell rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also weighed in on the stock. Leerink Partners restated a “market perform” rating and issued a $1.00 price objective (down from $2.00) on shares of Lexicon Pharmaceuticals in a report on Tuesday, March 4th. Leerink Partnrs lowered shares of Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Piper Sandler reduced their price target on shares of Lexicon Pharmaceuticals from $10.00 to $6.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Needham & Company LLC restated a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Monday, March 3rd. Finally, HC Wainwright reiterated a “buy” rating and set a $4.00 price objective on shares of Lexicon Pharmaceuticals in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $3.67.

Lexicon Pharmaceuticals Price Performance

Shares of LXRX stock opened at $0.36 on Thursday. Lexicon Pharmaceuticals has a twelve month low of $0.28 and a twelve month high of $2.47. The stock has a market cap of $89.43 million, a price-to-earnings ratio of -0.48 and a beta of 1.04. 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 business’s fifty day moving average is $0.64 and its 200 day moving average is $1.04.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its earnings results on Thursday, March 6th. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.02. Lexicon Pharmaceuticals had a negative net margin of 4,109.41% and a negative return on equity of 107.38%. The firm had revenue of $26.55 million during the quarter, compared to analyst estimates of $6.48 million. Research analysts expect that Lexicon Pharmaceuticals will post -0.66 EPS for the current fiscal year.

Institutional Trading of Lexicon Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System increased its holdings in Lexicon Pharmaceuticals by 29.9% in the 4th quarter. California State Teachers Retirement System now owns 195,215 shares of the biopharmaceutical company’s stock valued at $144,000 after acquiring an additional 44,915 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Lexicon Pharmaceuticals by 193.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 353,508 shares of the biopharmaceutical company’s stock worth $261,000 after buying an additional 233,121 shares in the last quarter. Tang Capital Management LLC increased its holdings in shares of Lexicon Pharmaceuticals by 750.3% in the 4th quarter. Tang Capital Management LLC now owns 850,268 shares of the biopharmaceutical company’s stock worth $628,000 after buying an additional 750,268 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of Lexicon Pharmaceuticals by 630.7% during the 4th quarter. Point72 Asset Management L.P. now owns 8,988,421 shares of the biopharmaceutical company’s stock valued at $6,638,000 after buying an additional 7,758,371 shares in the last quarter. Finally, Deutsche Bank AG raised its position in Lexicon Pharmaceuticals by 378.0% during the fourth quarter. Deutsche Bank AG now owns 315,659 shares of the biopharmaceutical company’s stock valued at $234,000 after purchasing an additional 249,616 shares during the period. Institutional investors own 74.70% of the company’s stock.

Lexicon Pharmaceuticals Company Profile

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.