Lexicon Pharmaceuticals (NASDAQ:LXRX) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a report issued on Thursday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also weighed in on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Monday, March 3rd. Piper Sandler reduced their target price on shares of Lexicon Pharmaceuticals from $10.00 to $6.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. HC Wainwright reiterated a “buy” rating and issued a $4.00 target price on shares of Lexicon Pharmaceuticals in a research note on Monday, March 3rd. Leerink Partnrs downgraded shares of Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Finally, Leerink Partners reiterated a “market perform” rating and issued a $1.00 target price (down previously from $2.00) on shares of Lexicon Pharmaceuticals in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $3.67.

Lexicon Pharmaceuticals Price Performance

LXRX opened at $0.36 on Thursday. The firm has a market cap of $89.43 million, a P/E ratio of -0.48 and a beta of 1.04. The firm has a 50-day moving average of $0.64 and a 200 day moving average of $1.04. The company has a debt-to-equity ratio of 0.56, a quick ratio of 7.43 and a current ratio of 7.45. Lexicon Pharmaceuticals has a fifty-two week low of $0.28 and a fifty-two week high of $2.47.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its quarterly earnings results on Thursday, March 6th. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.02. The company had revenue of $26.55 million during the quarter, compared to analyst estimates of $6.48 million. Lexicon Pharmaceuticals had a negative net margin of 4,109.41% and a negative return on equity of 107.38%. On average, research analysts expect that Lexicon Pharmaceuticals will post -0.66 EPS for the current year.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Bayesian Capital Management LP purchased a new position in Lexicon Pharmaceuticals during the fourth quarter valued at approximately $31,000. RPO LLC purchased a new position in Lexicon Pharmaceuticals during the fourth quarter valued at approximately $33,000. Renaissance Technologies LLC purchased a new position in Lexicon Pharmaceuticals during the fourth quarter valued at approximately $38,000. Arizona State Retirement System grew its stake in Lexicon Pharmaceuticals by 34.4% during the fourth quarter. Arizona State Retirement System now owns 62,976 shares of the biopharmaceutical company’s stock valued at $47,000 after acquiring an additional 16,136 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its stake in Lexicon Pharmaceuticals by 60.3% during the fourth quarter. Teacher Retirement System of Texas now owns 65,415 shares of the biopharmaceutical company’s stock valued at $48,000 after acquiring an additional 24,615 shares in 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.