Lexicon Pharmaceuticals’ (LXRX) “Buy” Rating Reiterated at HC Wainwright

Lexicon Pharmaceuticals (NASDAQ:LXRX)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $10.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price objective points to a potential upside of 395.05% from the company’s previous close.

LXRX has been the subject of several other research reports. Needham & Company LLC reiterated a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Wednesday. Leerink Partners set a $6.00 price target on shares of Lexicon Pharmaceuticals and gave the stock an “outperform” rating in a research note on Friday, October 18th. Finally, StockNews.com raised shares of Lexicon Pharmaceuticals to a “sell” rating in a research report 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 stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $8.00.

Lexicon Pharmaceuticals Stock Down 0.5 %

Shares of LXRX opened at $2.02 on Wednesday. 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 stock has a market capitalization of $497.40 million, a PE ratio of -2.45 and a beta of 1.28. The company’s 50-day simple moving average is $1.73 and its 200-day simple moving average is $1.77. Lexicon Pharmaceuticals has a 1 year low of $0.92 and a 1 year high of $3.73.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. The company had revenue of $1.65 million for the quarter, compared to analyst estimates of $2.74 million. Lexicon Pharmaceuticals had a negative net margin of 5,509.34% and a negative return on equity of 105.38%. During the same period in the prior year, the business earned ($0.22) EPS. Analysts forecast that Lexicon Pharmaceuticals will post -0.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in LXRX. Vanguard Group Inc. boosted its holdings in shares of Lexicon Pharmaceuticals by 7.0% in the 1st quarter. Vanguard Group Inc. now owns 6,401,225 shares of the biopharmaceutical company’s stock valued at $15,363,000 after buying an additional 420,854 shares in the last quarter. Point72 Asset Management L.P. grew its stake in Lexicon Pharmaceuticals by 605.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 4,121,191 shares of the biopharmaceutical company’s stock worth $6,924,000 after buying an additional 3,536,805 shares during the last quarter. Nantahala Capital Management LLC purchased a new position in Lexicon Pharmaceuticals during the 2nd quarter worth approximately $3,871,000. Pinnacle Associates Ltd. increased its position in Lexicon Pharmaceuticals by 0.9% during the third quarter. Pinnacle Associates Ltd. now owns 1,730,821 shares of the biopharmaceutical company’s stock worth $2,648,000 after buying an additional 14,990 shares during the period. Finally, Marshall Wace LLP lifted its stake in Lexicon Pharmaceuticals by 138.5% in the second quarter. Marshall Wace LLP now owns 1,190,448 shares of the biopharmaceutical company’s stock valued at $2,000,000 after buying an additional 691,276 shares during the last quarter. Hedge funds and other institutional investors own 74.70% of the company’s stock.

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.