Needham & Company LLC Reaffirms “Hold” Rating for Lexicon Pharmaceuticals (NASDAQ:LXRX)

Needham & Company LLC reiterated their hold rating on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a research note published on Wednesday morning,Benzinga reports.

Several other equities research analysts have also commented on LXRX. Leerink Partners set a $6.00 price objective on Lexicon Pharmaceuticals and gave the stock an “outperform” rating in a research report on Friday, October 18th. HC Wainwright reiterated a “buy” rating and issued a $6.00 price objective on shares of Lexicon Pharmaceuticals in a research report on Wednesday. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Lexicon Pharmaceuticals presently has an average rating of “Hold” and an average target price of $6.00.

Lexicon Pharmaceuticals Trading Down 8.0 %

Shares of Lexicon Pharmaceuticals stock opened at $0.98 on Wednesday. Lexicon Pharmaceuticals has a 1 year low of $0.97 and a 1 year high of $3.73. The company has a debt-to-equity ratio of 0.41, a current ratio of 11.51 and a quick ratio of 11.49. The stock has a market cap of $240.13 million, a PE ratio of -1.30 and a beta of 1.24. The firm has a fifty day moving average price of $1.61 and a 200 day moving average price of $1.73.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.01). The company had revenue of $1.75 million during the quarter, compared to analyst estimates of $3.14 million. Lexicon Pharmaceuticals had a negative net margin of 4,109.41% and a negative return on equity of 103.65%. During the same period last year, the firm earned ($0.21) EPS. Equities research analysts predict that Lexicon Pharmaceuticals will post -0.69 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. 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. boosted its stake in Lexicon Pharmaceuticals by 116.1% during the 2nd 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 during the last quarter. Great Point Partners LLC acquired a new stake in shares of Lexicon Pharmaceuticals in the second quarter valued at about $50,000. BNP Paribas Financial Markets lifted its stake in shares of Lexicon Pharmaceuticals by 71.2% in the third quarter. BNP Paribas Financial Markets now owns 31,853 shares of the biopharmaceutical company’s stock worth $50,000 after buying an additional 13,246 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in Lexicon Pharmaceuticals by 107.6% during the third quarter. SG Americas Securities LLC now owns 46,090 shares of the biopharmaceutical company’s stock worth $72,000 after acquiring an additional 23,893 shares during the last quarter. Hedge funds and other institutional investors own 74.70% of the company’s stock.

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.