HC Wainwright reiterated their buy rating on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX – Free Report) in a research report released on Thursday, Benzinga reports. The brokerage currently has a $10.00 price target on the biopharmaceutical company’s stock.
Separately, StockNews.com upgraded Lexicon Pharmaceuticals to a sell rating in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Lexicon Pharmaceuticals currently has a consensus rating of Hold and a consensus target price of $7.50.
View Our Latest Report on LXRX
Lexicon Pharmaceuticals Stock Performance
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 (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.01. The company had revenue of $1.65 million during the quarter, compared to analysts’ expectations 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 period in the prior year, the business earned ($0.22) EPS. Analysts predict that Lexicon Pharmaceuticals will post -0.69 EPS for the current fiscal year.
Hedge Funds Weigh In On Lexicon Pharmaceuticals
A number of hedge funds have recently made changes to their positions in LXRX. BVF Inc. IL raised its position in Lexicon Pharmaceuticals by 22.2% in the fourth quarter. BVF Inc. IL now owns 24,435,632 shares of the biopharmaceutical company’s stock valued at $37,387,000 after purchasing an additional 4,440,300 shares during the period. Point72 Asset Management L.P. grew its stake 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 buying an additional 3,536,805 shares in the last quarter. Nantahala Capital Management LLC purchased a new stake in shares of Lexicon Pharmaceuticals in the 2nd quarter valued at $3,871,000. Marshall Wace LLP lifted its stake in Lexicon Pharmaceuticals by 138.5% during the 2nd quarter. Marshall Wace LLP now owns 1,190,448 shares of the biopharmaceutical company’s stock worth $2,000,000 after acquiring an additional 691,276 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in Lexicon Pharmaceuticals during the 2nd quarter valued at about $912,000. 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.
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