Lexicon Pharmaceuticals (NASDAQ:LXRX – Get Free Report)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research note issued on Friday, Benzinga reports. They currently have a $10.00 target price 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 analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Lexicon Pharmaceuticals has a consensus rating of “Hold” and an average target price of $7.50.
Read Our Latest Report on Lexicon Pharmaceuticals
Lexicon Pharmaceuticals Stock Up 4.2 %
Lexicon Pharmaceuticals (NASDAQ:LXRX – Get Free Report) last issued its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.01. The business had revenue of $1.65 million for the quarter, compared to analyst estimates 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 company earned ($0.22) EPS. As a group, research analysts expect that Lexicon Pharmaceuticals will post -0.69 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Nantahala Capital Management LLC acquired a new stake in shares of Lexicon Pharmaceuticals during the second quarter worth $3,871,000. Point72 Asset Management L.P. boosted its holdings in shares of Lexicon Pharmaceuticals by 605.2% in the second quarter. Point72 Asset Management L.P. now owns 4,121,191 shares of the biopharmaceutical company’s stock valued at $6,924,000 after acquiring an additional 3,536,805 shares in the last quarter. CVI Holdings LLC acquired a new position in shares of Lexicon Pharmaceuticals during the second quarter worth about $34,000. The Manufacturers Life Insurance Company raised its holdings in Lexicon Pharmaceuticals by 40.5% during the second quarter. The Manufacturers Life Insurance Company now owns 49,957 shares of the biopharmaceutical company’s stock worth $84,000 after purchasing an additional 14,411 shares in the last quarter. Finally, Great Point Partners LLC acquired a new stake in Lexicon Pharmaceuticals in the second quarter valued at about $50,000. 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.
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