Leerink Partners Reiterates Market Perform Rating for Lexicon Pharmaceuticals (NASDAQ:LXRX)

Leerink Partners reissued their market perform rating on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a report published on Tuesday, MarketBeat Ratings reports. They currently have a $1.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $2.00.

LXRX has been the subject of a number of other reports. Needham & Company LLC reiterated a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Monday. HC Wainwright reiterated a “buy” rating and set a $4.00 target price on shares of Lexicon Pharmaceuticals in a research report on Monday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lexicon Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $2.50.

Lexicon Pharmaceuticals Stock Performance

LXRX opened at $0.37 on Tuesday. The business has a fifty day simple moving average of $0.73 and a 200 day simple moving average of $1.15. The company has a market capitalization of $90.54 million, a PE ratio of -0.49 and a beta of 1.04. Lexicon Pharmaceuticals has a 1 year low of $0.28 and a 1 year high of $2.83. 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 (NASDAQ:LXRX) last released its quarterly earnings results on Thursday, March 6th. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.02. The business had revenue of $26.55 million during the quarter, compared to the consensus estimate of $6.48 million. Lexicon Pharmaceuticals had a negative return on equity of 107.38% and a negative net margin of 4,109.41%. Research analysts expect that Lexicon Pharmaceuticals will post -0.66 EPS for the current year.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

A number of institutional investors have recently modified their holdings of LXRX. Bayesian Capital Management LP acquired a new position in shares of Lexicon Pharmaceuticals during the 4th quarter worth $31,000. RPO LLC acquired a new position in shares of Lexicon Pharmaceuticals during the 4th quarter worth $33,000. Renaissance Technologies LLC acquired a new position in shares of Lexicon Pharmaceuticals during the 4th quarter worth $38,000. Arizona State Retirement System raised its holdings in shares of Lexicon Pharmaceuticals by 34.4% during the 4th quarter. Arizona State Retirement System now owns 62,976 shares of the biopharmaceutical company’s stock worth $47,000 after buying an additional 16,136 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in shares of Lexicon Pharmaceuticals by 60.3% during the 4th quarter. Teacher Retirement System of Texas now owns 65,415 shares of the biopharmaceutical company’s stock worth $48,000 after buying an additional 24,615 shares in the last quarter. Institutional investors and hedge funds 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.