HC Wainwright Reaffirms Buy Rating for Lexicon Pharmaceuticals (NASDAQ:LXRX)

HC Wainwright reaffirmed their buy rating on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a research report report published on Friday, Benzinga reports. HC Wainwright currently has a $10.00 target price on the biopharmaceutical company’s stock.

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

Lexicon Pharmaceuticals Stock Up 3.9 %

Shares of Lexicon Pharmaceuticals stock opened at $1.60 on Friday. The stock has a market capitalization of $393.98 million, a price-to-earnings ratio of -1.93 and a beta of 1.33. Lexicon Pharmaceuticals has a twelve month low of $0.92 and a twelve month high of $3.73. The company has a current ratio of 11.51, a quick ratio of 11.49 and a debt-to-equity ratio of 0.41. The business’s 50 day simple moving average is $1.77 and its 200-day simple moving average is $1.84.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.01. The firm had revenue of $1.65 million for the quarter, compared to analyst estimates 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 period last year, the company earned ($0.22) earnings per share. Equities research analysts forecast that Lexicon Pharmaceuticals will post -0.69 earnings per share for the current year.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of LXRX. Cantor Fitzgerald L. P. bought a new position in Lexicon Pharmaceuticals in the 4th quarter valued at about $25,000. CVI Holdings LLC acquired a new position in shares of Lexicon Pharmaceuticals during the second quarter valued at approximately $34,000. Principal Financial Group Inc. raised its holdings in Lexicon Pharmaceuticals by 116.1% during the second quarter. Principal Financial Group Inc. now owns 22,759 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 12,225 shares in the last quarter. Great Point Partners LLC acquired a new stake in Lexicon Pharmaceuticals in the second quarter worth approximately $50,000. Finally, Virtu Financial LLC bought a new position in Lexicon Pharmaceuticals during the 1st quarter valued at $105,000. 74.70% of the stock is currently owned by institutional investors.

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.