Lexicon Pharmaceuticals (NASDAQ:LXRX) Cut to Strong Sell at Wall Street Zen

Wall Street Zen lowered shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) from a sell rating to a strong sell rating in a report released on Saturday morning,Wall Street Zen reports.

A number of other research firms have also recently issued reports on LXRX. Zacks Research cut shares of Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 3rd. Cantor Fitzgerald initiated coverage on Lexicon Pharmaceuticals in a research report on Monday, September 28th. They set an “overweight” rating and a $8.00 price target on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a research report on Wednesday, October 21st. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $5.70.

Lexicon Pharmaceuticals Trading Up 1.4%

LXRX opened at $1.44 on Friday. The company has a quick ratio of 13.29, a current ratio of 13.37 and a debt-to-equity ratio of 0.29. The firm’s 50-day simple moving average is $1.87 and its 200-day simple moving average is $1.88. Lexicon Pharmaceuticals has a twelve month low of $1.10 and a twelve month high of $2.68.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $0.69 million during the quarter, compared to analyst estimates of $3.99 million. Lexicon Pharmaceuticals had a negative net margin of 147.38% and a negative return on equity of 37.53%. As a group, sell-side analysts forecast that Lexicon Pharmaceuticals will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in LXRX. Siren L.L.C. boosted its holdings in Lexicon Pharmaceuticals by 13.8% in the first quarter. Siren L.L.C. now owns 44,303,518 shares of the biopharmaceutical company’s stock valued at $69,113,000 after acquiring an additional 5,384,615 shares during the last quarter. Renaissance Technologies LLC increased its position in Lexicon Pharmaceuticals by 508.0% in the first quarter. Renaissance Technologies LLC now owns 1,600,500 shares of the biopharmaceutical company’s stock worth $2,497,000 after purchasing an additional 1,337,246 shares during the period. Bank of New York Mellon Corp bought a new stake in Lexicon Pharmaceuticals during the 2nd quarter worth about $1,365,000. Bank of America Corp DE raised its holdings in Lexicon Pharmaceuticals by 415.3% during the 1st quarter. Bank of America Corp DE now owns 526,103 shares of the biopharmaceutical company’s stock worth $821,000 after purchasing an additional 424,006 shares during the last quarter. Finally, ADAR1 Capital Management LLC bought a new stake in Lexicon Pharmaceuticals during the 1st quarter worth about $1,170,000. Institutional investors own 74.70% of the company’s stock.

Lexicon Pharmaceuticals Company Profile

Lexicon Pharmaceuticals, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for serious and chronic diseases. The company uses its drug discovery platform to identify small-molecule treatments designed to target specific biological pathways, with an emphasis on metabolic, cardiovascular and neurological conditions.

Lexicon’s commercial products include INPEFA (sotagliflozin), an oral medicine approved in the United States to reduce the risk of cardiovascular death, hospitalization for heart failure and urgent heart-failure visits in certain adults with heart failure or type 2 diabetes and chronic kidney disease.