Lexicon Pharmaceuticals (NASDAQ:LXRX) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a research report released on Friday morning. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

Several other research firms have also weighed in on LXRX. Leerink Partnrs lowered shares of Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Piper Sandler reduced their price objective on Lexicon Pharmaceuticals from $10.00 to $6.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. Needham & Company LLC reiterated a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Monday, March 3rd. Leerink Partners reaffirmed a “market perform” rating and issued a $1.00 price objective (down previously from $2.00) on shares of Lexicon Pharmaceuticals in a research report on Tuesday, March 4th. Finally, HC Wainwright reiterated a “buy” rating and set a $4.00 price objective on shares of Lexicon Pharmaceuticals in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $3.67.

Lexicon Pharmaceuticals Price Performance

Shares of Lexicon Pharmaceuticals stock opened at $0.57 on Friday. The business’s fifty day moving average price is $0.61 and its 200 day moving average price is $0.99. Lexicon Pharmaceuticals has a twelve month low of $0.28 and a twelve month high of $2.45. The company has a current ratio of 7.45, a quick ratio of 7.43 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $140.48 million, a P/E ratio of -0.76 and a beta of 1.04.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its earnings results on Thursday, March 6th. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. Lexicon Pharmaceuticals had a negative return on equity of 107.38% and a negative net margin of 4,109.41%. The business had revenue of $26.55 million during the quarter, compared to analysts’ expectations of $6.48 million. As a group, research analysts anticipate that Lexicon Pharmaceuticals will post -0.66 earnings per share for the current year.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC grew its holdings in Lexicon Pharmaceuticals by 28.9% during the 3rd quarter. FMR LLC now owns 49,867,042 shares of the biopharmaceutical company’s stock worth $78,291,000 after acquiring an additional 11,179,919 shares in the last quarter. Point72 Asset Management L.P. lifted 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 worth $6,638,000 after buying an additional 7,758,371 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its position in shares of Lexicon Pharmaceuticals by 301.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 7,558,621 shares of the biopharmaceutical company’s stock worth $5,582,000 after acquiring an additional 5,676,021 shares in the last quarter. Nantahala Capital Management LLC increased its holdings in shares of Lexicon Pharmaceuticals by 186.6% in the 4th 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 during the last quarter. Finally, Tang Capital Management LLC raised its position in shares of Lexicon Pharmaceuticals by 750.3% during the 4th quarter. Tang Capital Management LLC now owns 850,268 shares of the biopharmaceutical company’s stock valued at $628,000 after acquiring an additional 750,268 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.