HC Wainwright Reiterates “Buy” Rating for Lexicon Pharmaceuticals (NASDAQ:LXRX)

HC Wainwright restated their buy rating on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a $6.00 target price on the biopharmaceutical company’s stock. HC Wainwright also issued estimates for Lexicon Pharmaceuticals’ Q4 2024 earnings at ($0.15) EPS, FY2024 earnings at ($0.76) EPS, FY2025 earnings at ($0.60) EPS and FY2026 earnings at ($0.47) EPS.

A number of other research analysts also recently weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Wednesday, October 30th. Leerink Partners set a $6.00 target price on shares of Lexicon Pharmaceuticals and gave the company an “outperform” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Lexicon Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $6.00.

Lexicon Pharmaceuticals Price Performance

NASDAQ LXRX opened at $0.98 on Wednesday. The firm’s 50 day moving average is $1.61 and its 200-day moving average is $1.73. The company has a quick ratio of 11.49, a current ratio of 11.51 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $240.13 million, a PE ratio of -1.30 and a beta of 1.24. Lexicon Pharmaceuticals has a 12-month low of $0.97 and a 12-month high of $3.73.

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

Hedge Funds Weigh In On Lexicon Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of LXRX. FMR LLC raised its stake in Lexicon Pharmaceuticals by 28.9% in the third quarter. FMR LLC now owns 49,867,042 shares of the biopharmaceutical company’s stock valued at $78,291,000 after buying an additional 11,179,919 shares during the period. Vanguard Group Inc. increased its holdings in shares of Lexicon Pharmaceuticals by 7.0% during the 1st quarter. Vanguard Group Inc. now owns 6,401,225 shares of the biopharmaceutical company’s stock worth $15,363,000 after acquiring an additional 420,854 shares during the last quarter. Point72 Asset Management L.P. raised its stake in Lexicon Pharmaceuticals by 605.2% in the 2nd 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 during the period. Geode Capital Management LLC lifted its holdings in Lexicon Pharmaceuticals by 8.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,523,971 shares of the biopharmaceutical company’s stock valued at $5,534,000 after purchasing an additional 273,436 shares during the last quarter. Finally, State Street Corp boosted its position in Lexicon Pharmaceuticals by 6.8% during the third quarter. State Street Corp now owns 2,471,215 shares of the biopharmaceutical company’s stock worth $3,880,000 after purchasing an additional 157,738 shares during the period. 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.