Needham & Company LLC Reiterates “Hold” Rating for Lexicon Pharmaceuticals (NASDAQ:LXRX)

Lexicon Pharmaceuticals (NASDAQ:LXRX)‘s stock had its “hold” rating reissued by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday, Benzinga reports.

A number of other research firms also recently commented on LXRX. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 target price on shares of Lexicon Pharmaceuticals in a research report on Wednesday, October 23rd. StockNews.com upgraded Lexicon Pharmaceuticals to a “sell” rating in a research report on Tuesday, July 9th. Finally, Leerink Partners set a $6.00 target price on Lexicon Pharmaceuticals and gave the stock an “outperform” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Lexicon Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $8.00.

Lexicon Pharmaceuticals Stock Down 3.9 %

Lexicon Pharmaceuticals stock opened at $1.95 on Wednesday. Lexicon Pharmaceuticals has a one year low of $0.92 and a one year high of $3.73. The business’s fifty day moving average is $1.73 and its 200 day moving average is $1.77. The company has a quick ratio of 11.49, a current ratio of 11.51 and a debt-to-equity ratio of 0.41.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last announced its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. The firm had revenue of $1.65 million during the quarter, compared to analyst estimates of $2.74 million. Lexicon Pharmaceuticals had a negative net margin of 5,509.34% and a negative return on equity of 105.38%. During the same period in the previous year, the business posted ($0.22) earnings per share. Equities analysts anticipate that Lexicon Pharmaceuticals will post -0.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Asset Management L.P. grew its holdings in Lexicon Pharmaceuticals by 605.2% during 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 purchasing an additional 3,536,805 shares during the period. Nantahala Capital Management LLC bought a new position in shares of Lexicon Pharmaceuticals during the 2nd quarter valued at approximately $3,871,000. Marshall Wace LLP grew its stake in shares of Lexicon Pharmaceuticals by 138.5% during the 2nd quarter. Marshall Wace LLP now owns 1,190,448 shares of the biopharmaceutical company’s stock valued at $2,000,000 after acquiring an additional 691,276 shares during the period. Hennion & Walsh Asset Management Inc. bought a new stake in Lexicon Pharmaceuticals during the 2nd quarter worth approximately $912,000. Finally, Vanguard Group Inc. lifted its holdings in Lexicon Pharmaceuticals by 7.0% during the first quarter. Vanguard Group Inc. now owns 6,401,225 shares of the biopharmaceutical company’s stock valued at $15,363,000 after purchasing an additional 420,854 shares in the last quarter. 74.70% of the stock is currently owned by hedge funds and other institutional investors.

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.