Lexicon Pharmaceuticals (NASDAQ:LXRX) Given “Buy” Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a report released on Wednesday, Benzinga reports. The firm currently has a $10.00 price objective on the biopharmaceutical company’s stock.

Several other research analysts also recently commented on LXRX. Needham & Company LLC restated a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Wednesday. Leerink Partners set a $6.00 price objective on shares of Lexicon Pharmaceuticals and gave the company an “outperform” rating in a research report on Friday, October 18th. Finally, StockNews.com raised shares of Lexicon Pharmaceuticals to a “sell” rating in a report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $8.00.

Lexicon Pharmaceuticals Stock Down 37.4 %

LXRX stock opened at $1.22 on Wednesday. The stock has a fifty day moving average of $1.72 and a 200-day moving average of $1.76. Lexicon Pharmaceuticals has a fifty-two week low of $0.92 and a fifty-two week high of $3.73. The company has a market capitalization of $300.41 million, a price-to-earnings ratio of -1.56 and a beta of 1.28. The company has a debt-to-equity ratio of 0.41, a quick ratio of 11.49 and a current ratio of 11.51.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.65 million for the quarter, compared to analysts’ expectations of $2.74 million. During the same quarter in the previous year, the firm posted ($0.22) EPS. As a group, equities research analysts predict that Lexicon Pharmaceuticals will post -0.69 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Compagnie Lombard Odier SCmA raised its position in Lexicon Pharmaceuticals by 6.4% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 100,000 shares of the biopharmaceutical company’s stock worth $157,000 after purchasing an additional 6,000 shares during the period. Principal Financial Group Inc. lifted its stake 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 valued at $38,000 after acquiring an additional 12,225 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Lexicon Pharmaceuticals by 44.5% during the 2nd quarter. Victory Capital Management Inc. now owns 45,341 shares of the biopharmaceutical company’s stock valued at $76,000 after acquiring an additional 13,972 shares during the period. The Manufacturers Life Insurance Company grew its position in Lexicon Pharmaceuticals by 40.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,957 shares of the biopharmaceutical company’s stock worth $84,000 after acquiring an additional 14,411 shares during the last quarter. Finally, Pinnacle Associates Ltd. increased its stake in Lexicon Pharmaceuticals by 0.9% in the 3rd quarter. Pinnacle Associates Ltd. now owns 1,730,821 shares of the biopharmaceutical company’s stock worth $2,648,000 after purchasing an additional 14,990 shares during the period. 74.70% of the stock is currently owned by hedge funds and other 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.