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

StockNews.com began coverage on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a research report report published on Sunday. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Monday, March 3rd. Leerink Partnrs downgraded shares of Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. HC Wainwright restated a “buy” rating and set a $4.00 price objective on shares of Lexicon Pharmaceuticals in a report on Friday, March 28th. Piper Sandler lowered their price target on Lexicon Pharmaceuticals from $10.00 to $6.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Finally, Leerink Partners reissued a “market perform” rating and set a $1.00 price objective (down previously from $2.00) on shares of Lexicon Pharmaceuticals in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $3.67.

Lexicon Pharmaceuticals Trading Down 3.4 %

NASDAQ LXRX opened at $0.51 on Friday. Lexicon Pharmaceuticals has a 1-year low of $0.28 and a 1-year high of $2.45. The firm’s fifty day simple moving average is $0.51 and its 200-day simple moving average is $0.89. The company has a current ratio of 7.45, a quick ratio of 7.43 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $126.10 million, a PE ratio of -0.68 and a beta of 1.02.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its quarterly earnings results 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. The company had revenue of $26.55 million during the quarter, compared to analysts’ expectations of $6.48 million. Lexicon Pharmaceuticals had a negative net margin of 4,109.41% and a negative return on equity of 107.38%. As a group, sell-side analysts anticipate that Lexicon Pharmaceuticals will post -0.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets grew its position in Lexicon Pharmaceuticals by 71.2% in the third quarter. BNP Paribas Financial Markets now owns 31,853 shares of the biopharmaceutical company’s stock valued at $50,000 after acquiring an additional 13,246 shares during the last quarter. Wellington Management Group LLP raised its stake in Lexicon Pharmaceuticals by 2.1% during the fourth quarter. Wellington Management Group LLP now owns 747,996 shares of the biopharmaceutical company’s stock worth $552,000 after buying an additional 15,249 shares during the last quarter. Arizona State Retirement System lifted its stake in Lexicon Pharmaceuticals by 34.4% in the fourth quarter. Arizona State Retirement System now owns 62,976 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 16,136 shares during the period. Teacher Retirement System of Texas raised its holdings in shares of Lexicon Pharmaceuticals by 60.3% during the fourth quarter. Teacher Retirement System of Texas now owns 65,415 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 24,615 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of Lexicon Pharmaceuticals by 27.4% in the 4th quarter. Bank of America Corp DE now owns 136,407 shares of the biopharmaceutical company’s stock worth $101,000 after purchasing an additional 29,319 shares in the last quarter. 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.