Lexicon Pharmaceuticals’ (LXRX) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a research report released on Friday morning,Benzinga reports. They currently have a $4.00 price target on the biopharmaceutical company’s stock.

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

Lexicon Pharmaceuticals Price Performance

Lexicon Pharmaceuticals stock opened at $0.57 on Friday. The business has a 50 day simple moving average of $0.61 and a 200 day simple moving average of $0.99. The company has a debt-to-equity ratio of 0.56, a current ratio of 7.45 and a quick ratio of 7.43. The company has a market capitalization of $140.48 million, a PE ratio of -0.76 and a beta of 1.04. Lexicon Pharmaceuticals has a one year low of $0.28 and a one year high of $2.45.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its quarterly earnings data on Thursday, March 6th. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. Lexicon Pharmaceuticals had a negative return on equity of 107.38% and a negative net margin of 4,109.41%. The company had revenue of $26.55 million during the quarter, compared to analysts’ expectations of $6.48 million. On average, sell-side analysts forecast that Lexicon Pharmaceuticals will post -0.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. FMR LLC increased its stake in shares of Lexicon Pharmaceuticals by 28.9% in the 3rd quarter. FMR LLC now owns 49,867,042 shares of the biopharmaceutical company’s stock valued at $78,291,000 after buying an additional 11,179,919 shares during the period. Point72 Asset Management L.P. boosted its holdings in Lexicon Pharmaceuticals by 630.7% in the fourth quarter. Point72 Asset Management L.P. now owns 8,988,421 shares of the biopharmaceutical company’s stock valued at $6,638,000 after acquiring an additional 7,758,371 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its position in Lexicon Pharmaceuticals by 301.5% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 7,558,621 shares of the biopharmaceutical company’s stock worth $5,582,000 after purchasing an additional 5,676,021 shares during the period. Nantahala Capital Management LLC raised its holdings in Lexicon Pharmaceuticals by 186.6% during the 4th quarter. Nantahala Capital Management LLC now owns 6,604,150 shares of the biopharmaceutical company’s stock worth $4,877,000 after purchasing an additional 4,300,000 shares during the last quarter. Finally, Tang Capital Management LLC raised its holdings in Lexicon Pharmaceuticals by 750.3% during the 4th quarter. Tang Capital Management LLC now owns 850,268 shares of the biopharmaceutical company’s stock worth $628,000 after purchasing an additional 750,268 shares during the last quarter. 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.