Lexicon Pharmaceuticals (NASDAQ:LXRX) Receives “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a research report sent to investors on Monday morning, Benzinga reports. They currently have a $10.00 price objective on the biopharmaceutical company’s stock.

LXRX has been the topic of several other research reports. StockNews.com raised shares of Lexicon Pharmaceuticals to a sell rating in a report on Thursday, June 6th. Leerink Partnrs reissued an outperform rating on shares of Lexicon Pharmaceuticals in a report on Tuesday, April 30th. SVB Leerink began coverage on shares of Lexicon Pharmaceuticals in a report on Tuesday, April 30th. They set an outperform rating and a $5.00 price objective on the stock. Finally, Needham & Company LLC reissued a hold rating on shares of Lexicon Pharmaceuticals in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $6.67.

Lexicon Pharmaceuticals Stock Down 2.2 %

Shares of NASDAQ:LXRX opened at $1.81 on Monday. The company has a market cap of $445.69 million, a price-to-earnings ratio of -2.18 and a beta of 1.38. The firm’s 50-day simple moving average is $1.74 and its 200-day simple moving average is $1.90. The company has a quick ratio of 15.56, a current ratio of 15.58 and a debt-to-equity ratio of 0.35. Lexicon Pharmaceuticals has a fifty-two week low of $0.92 and a fifty-two week high of $3.73.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.02). The firm had revenue of $1.13 million during the quarter, compared to analysts’ expectations of $1.17 million. Lexicon Pharmaceuticals had a negative net margin of 8,311.12% and a negative return on equity of 108.54%. As a group, equities research analysts predict that Lexicon Pharmaceuticals will post -0.7 earnings per share for the current year.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LXRX. Swiss National Bank raised its position in Lexicon Pharmaceuticals by 4.4% during the third quarter. Swiss National Bank now owns 242,300 shares of the biopharmaceutical company’s stock worth $264,000 after acquiring an additional 10,300 shares during the last quarter. KWB Wealth acquired a new position in Lexicon Pharmaceuticals during the fourth quarter worth about $62,000. China Universal Asset Management Co. Ltd. raised its position in Lexicon Pharmaceuticals by 350.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 28,329 shares of the biopharmaceutical company’s stock worth $43,000 after acquiring an additional 22,043 shares during the last quarter. Victory Capital Management Inc. raised its position in Lexicon Pharmaceuticals by 22.0% during the fourth quarter. Victory Capital Management Inc. now owns 32,187 shares of the biopharmaceutical company’s stock worth $49,000 after acquiring an additional 5,813 shares during the last quarter. Finally, Principal Securities Inc. acquired a new position in Lexicon Pharmaceuticals during the fourth quarter worth about $33,000. Institutional investors and hedge funds 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.