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 Thursday morning, Benzinga reports. HC Wainwright currently has a $10.00 price objective on the biopharmaceutical company’s stock.

Separately, StockNews.com upgraded Lexicon Pharmaceuticals to a sell rating in a report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and an average target price of $7.50.

Lexicon Pharmaceuticals Stock Up 5.0 %

LXRX stock opened at $1.69 on Thursday. The stock has a market capitalization of $416.14 million, a P/E ratio of -2.04 and a beta of 1.28. Lexicon Pharmaceuticals has a 52 week low of $0.92 and a 52 week high of $3.73. The firm has a 50-day simple moving average of $1.70 and a 200-day simple moving average of $1.80. The company has a quick ratio of 11.49, a current ratio of 11.51 and a debt-to-equity ratio of 0.41.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cantor Fitzgerald L. P. purchased a new position in Lexicon Pharmaceuticals during the fourth quarter worth approximately $25,000. CVI Holdings LLC purchased a new position in shares of Lexicon Pharmaceuticals during the 2nd quarter worth $34,000. Principal Financial Group Inc. boosted its position in shares of Lexicon Pharmaceuticals by 116.1% during the 2nd quarter. Principal Financial Group Inc. now owns 22,759 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 12,225 shares during the last quarter. Great Point Partners LLC purchased a new stake in shares of Lexicon Pharmaceuticals in the second quarter valued at about $50,000. Finally, SG Americas Securities LLC increased its position in Lexicon Pharmaceuticals by 107.6% during the third quarter. SG Americas Securities LLC now owns 46,090 shares of the biopharmaceutical company’s stock worth $72,000 after purchasing an additional 23,893 shares during the last quarter. 74.70% of the stock is currently owned by institutional investors and hedge funds.

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.