Lexicon Pharmaceuticals’ (LXRX) Buy Rating Reiterated at HC Wainwright

by · The Markets Daily

HC Wainwright restated their buy rating on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX – Free Report) in a research report report published on Tuesday morning,Benzinga reports. HC Wainwright currently has a $4.00 target price on the biopharmaceutical company’s stock.

LXRX has been the topic of a number of other reports. Wall Street Zen assumed coverage on Lexicon Pharmaceuticals in a research note on Monday, April 21st. They issued a “sell” rating on the stock. Piper Sandler dropped their target price on shares of Lexicon Pharmaceuticals from $10.00 to $6.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Leerink Partners reissued a “market perform” rating and set a $1.00 price target (down from $2.00) on shares of Lexicon Pharmaceuticals in a report on Tuesday, March 4th. Needham & Company LLC restated a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Monday, March 3rd. Finally, Leerink Partnrs lowered Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $3.67.

Get Our Latest Stock Analysis on LXRX

Lexicon Pharmaceuticals Stock Performance

Lexicon Pharmaceuticals stock opened at $0.93 on Tuesday. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.48. The firm has a market cap of $335.93 million, a P/E ratio of -1.82 and a beta of 1.00. Lexicon Pharmaceuticals has a 1-year low of $0.28 and a 1-year high of $2.45. The firm has a 50-day moving average of $0.68 and a 200-day moving average of $0.65.

Lexicon Pharmaceuticals (NASDAQ:LXRX – Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.03. Lexicon Pharmaceuticals had a negative net margin of 568.04% and a negative return on equity of 103.16%. The company had revenue of $1.26 million for the quarter, compared to analysts’ expectations of $1.26 million. Sell-side analysts expect that Lexicon Pharmaceuticals will post -0.66 EPS for the current year.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. grew its holdings in Lexicon Pharmaceuticals by 630.7% during the 4th quarter. Point72 Asset Management L.P. now owns 8,988,421 shares of the biopharmaceutical company’s stock valued at $6,638,000 after purchasing an additional 7,758,371 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its position in Lexicon Pharmaceuticals by 301.5% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 7,558,621 shares of the biopharmaceutical company’s stock valued at $5,582,000 after acquiring an additional 5,676,021 shares during the last quarter. Nantahala Capital Management LLC boosted its stake in Lexicon Pharmaceuticals by 186.6% in the fourth quarter. Nantahala Capital Management LLC now owns 6,604,150 shares of the biopharmaceutical company’s stock valued at $4,877,000 after acquiring an additional 4,300,000 shares in the last quarter. AQR Capital Management LLC acquired a new stake in Lexicon Pharmaceuticals in the first quarter valued at approximately $541,000. Finally, Tang Capital Management LLC boosted its stake in Lexicon Pharmaceuticals by 750.3% in the 4th quarter. Tang Capital Management LLC now owns 850,268 shares of the biopharmaceutical company’s stock worth $628,000 after purchasing an additional 750,268 shares in the last quarter. Institutional investors own 74.70% of the company’s stock.

Lexicon Pharmaceuticals Company Profile

(Get Free Report)

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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