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

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

Separately, StockNews.com raised Lexicon Pharmaceuticals to a sell rating in a research report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and an average target price of $7.50.

Lexicon Pharmaceuticals Stock Performance

Shares of Lexicon Pharmaceuticals stock opened at $1.69 on Wednesday. The stock has a market cap of $416.14 million, a PE ratio of -2.04 and a beta of 1.33. The business has a fifty day simple moving average of $1.83 and a 200-day simple moving average of $1.90. 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 has a 12 month low of $0.92 and a 12 month high of $3.73.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.01. The business had revenue of $1.65 million during the quarter, compared to analysts’ expectations 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 quarter last year, the firm posted ($0.22) earnings per share. On average, sell-side analysts anticipate that Lexicon Pharmaceuticals will post -0.69 EPS for the current fiscal year.

Institutional Trading of Lexicon Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the company. BVF Inc. IL raised its holdings in shares of Lexicon Pharmaceuticals by 22.2% during the fourth quarter. BVF Inc. IL now owns 24,435,632 shares of the biopharmaceutical company’s stock worth $37,387,000 after acquiring an additional 4,440,300 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Lexicon Pharmaceuticals by 7.0% during the first quarter. Vanguard Group Inc. now owns 6,401,225 shares of the biopharmaceutical company’s stock worth $15,363,000 after acquiring an additional 420,854 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of 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 acquiring an additional 3,536,805 shares in the last quarter. Nantahala Capital Management LLC purchased a new stake in shares of Lexicon Pharmaceuticals during the second quarter worth $3,871,000. Finally, Pinnacle Associates Ltd. raised its holdings in shares of Lexicon Pharmaceuticals by 1.0% during the first quarter. Pinnacle Associates Ltd. now owns 1,747,830 shares of the biopharmaceutical company’s stock worth $4,195,000 after acquiring an additional 17,009 shares in the last quarter. 74.70% of the stock is currently owned by hedge funds and other 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.