Lexicon Pharmaceuticals (NASDAQ:LXRX) Earns “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a report issued on Tuesday morning,Benzinga reports. HC Wainwright currently has a $6.00 price objective on the biopharmaceutical company’s stock.

A number of other research analysts have also recently weighed in on LXRX. Leerink Partners set a $6.00 price objective on shares of Lexicon Pharmaceuticals and gave the company an “outperform” rating in a report on Friday, October 18th. Needham & Company LLC restated a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Wednesday, October 30th. Finally, StockNews.com upgraded Lexicon Pharmaceuticals to a “sell” rating in a research note on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $6.00.

Lexicon Pharmaceuticals Price Performance

Shares of Lexicon Pharmaceuticals stock opened at $1.27 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 11.49 and a current ratio of 11.51. The business has a 50-day moving average of $1.67 and a 200 day moving average of $1.75. Lexicon Pharmaceuticals has a 12 month low of $0.92 and a 12 month high of $3.73.

Institutional Trading of Lexicon Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Asset Management L.P. raised its holdings in Lexicon Pharmaceuticals by 605.2% during the second quarter. Point72 Asset Management L.P. now owns 4,121,191 shares of the biopharmaceutical company’s stock worth $6,924,000 after purchasing an additional 3,536,805 shares in the last quarter. Nantahala Capital Management LLC purchased a new position in shares of Lexicon Pharmaceuticals in the 2nd quarter valued at $3,871,000. Marshall Wace LLP raised its stake in Lexicon Pharmaceuticals by 138.5% during the 2nd quarter. Marshall Wace LLP now owns 1,190,448 shares of the biopharmaceutical company’s stock worth $2,000,000 after acquiring an additional 691,276 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in Lexicon Pharmaceuticals in the second quarter valued at $912,000. Finally, Vanguard Group Inc. lifted its position in Lexicon Pharmaceuticals by 7.0% in the first quarter. Vanguard Group Inc. now owns 6,401,225 shares of the biopharmaceutical company’s stock valued at $15,363,000 after acquiring an additional 420,854 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.