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

Lexicon Pharmaceuticals (NASDAQ:LXRX)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a research report issued on Wednesday,Benzinga reports. They presently have a $4.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price objective suggests a potential upside of 330.11% from the stock’s current price.

A number of other research firms have also recently issued reports on LXRX. Leerink Partners set a $6.00 price objective on Lexicon Pharmaceuticals and gave the company an “outperform” rating in a research report on Friday, October 18th. Needham & Company LLC restated a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.00.

Lexicon Pharmaceuticals Stock Performance

Shares of NASDAQ LXRX opened at $0.93 on Wednesday. The company has a market capitalization of $229.00 million, a P/E ratio of -1.24 and a beta of 1.06. The company has a debt-to-equity ratio of 0.56, a current ratio of 7.45 and a quick ratio of 7.43. Lexicon Pharmaceuticals has a one year low of $0.62 and a one year high of $3.73. The business’s 50-day moving average price is $0.78 and its two-hundred day moving average price is $1.39.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.01). The company 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 107.38% and a negative net margin of 4,109.41%. During the same quarter last year, the company posted ($0.21) EPS. Analysts anticipate that Lexicon Pharmaceuticals will post -0.66 earnings per share for the current fiscal year.

Institutional Trading of Lexicon Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Compagnie Lombard Odier SCmA lifted its holdings in Lexicon Pharmaceuticals by 6.4% in the third quarter. Compagnie Lombard Odier SCmA now owns 100,000 shares of the biopharmaceutical company’s stock valued at $157,000 after buying an additional 6,000 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Lexicon Pharmaceuticals by 71.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 31,853 shares of the biopharmaceutical company’s stock valued at $50,000 after purchasing an additional 13,246 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Lexicon Pharmaceuticals by 40.5% during the second quarter. The Manufacturers Life Insurance Company now owns 49,957 shares of the biopharmaceutical company’s stock worth $84,000 after acquiring an additional 14,411 shares in the last quarter. Pinnacle Associates Ltd. raised its stake in shares of Lexicon Pharmaceuticals by 0.9% in the 3rd quarter. Pinnacle Associates Ltd. now owns 1,730,821 shares of the biopharmaceutical company’s stock valued at $2,648,000 after purchasing an additional 14,990 shares during the period. Finally, SG Americas Securities LLC raised its position in Lexicon Pharmaceuticals by 107.6% in the 3rd quarter. SG Americas Securities LLC now owns 46,090 shares of the biopharmaceutical company’s stock valued at $72,000 after buying an additional 23,893 shares during the last quarter. 74.70% of the stock is currently owned by institutional investors and hedge funds.

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.