Lexicon Pharmaceuticals (NASDAQ:LXRX) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a research report sent to investors on Wednesday morning,Benzinga reports.

LXRX has been the subject of a number of other research reports. HC Wainwright reissued a “buy” rating and issued a $6.00 price objective on shares of Lexicon Pharmaceuticals in a research note on Wednesday. Leerink Partners set a $6.00 price target on Lexicon Pharmaceuticals and gave the stock an “outperform” rating in a research report on Friday, October 18th. One investment 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’s stock. According to MarketBeat.com, Lexicon Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $6.00.

Lexicon Pharmaceuticals Stock Down 8.0 %

Shares of NASDAQ:LXRX opened at $0.98 on Wednesday. The business’s 50 day moving average is $1.61 and its 200 day moving average is $1.73. The stock has a market cap of $240.13 million, a P/E ratio of -1.30 and a beta of 1.24. Lexicon Pharmaceuticals has a 52-week low of $0.97 and a 52-week high of $3.73. 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 posted its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.01). Lexicon Pharmaceuticals had a negative return on equity of 103.65% and a negative net margin of 4,109.41%. The firm had revenue of $1.75 million for the quarter, compared to the consensus estimate of $3.14 million. During the same period in the previous year, the company posted ($0.21) EPS. Sell-side analysts predict that Lexicon Pharmaceuticals will post -0.69 EPS for the current year.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

A number of large investors have recently made changes to their positions in LXRX. Compagnie Lombard Odier SCmA grew its stake in Lexicon Pharmaceuticals by 6.4% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 100,000 shares of the biopharmaceutical company’s stock worth $157,000 after buying an additional 6,000 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Lexicon Pharmaceuticals by 116.1% in the second quarter. Principal Financial Group Inc. now owns 22,759 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 12,225 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Lexicon Pharmaceuticals by 71.2% during the third quarter. BNP Paribas Financial Markets now owns 31,853 shares of the biopharmaceutical company’s stock worth $50,000 after acquiring an additional 13,246 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Lexicon Pharmaceuticals by 44.5% during the second 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 in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Lexicon Pharmaceuticals by 40.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,957 shares of the biopharmaceutical company’s stock valued at $84,000 after purchasing an additional 14,411 shares during the last quarter. 74.70% of the stock is owned by institutional investors and hedge funds.

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.