HC Wainwright reiterated their buy rating on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX – Free Report) in a report published on Thursday morning, Benzinga reports. HC Wainwright currently has a $10.00 price target on the biopharmaceutical company’s stock.
Separately, StockNews.com raised Lexicon Pharmaceuticals to a “sell” rating in a report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $8.00.
Check Out Our Latest Research Report on LXRX
Lexicon Pharmaceuticals Price Performance
Lexicon Pharmaceuticals (NASDAQ:LXRX – Get Free Report) last released its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. The firm had revenue of $1.65 million for the quarter, compared to analyst estimates of $2.74 million. Lexicon Pharmaceuticals had a negative return on equity of 105.38% and a negative net margin of 5,509.34%. During the same period in the previous year, the company earned ($0.22) earnings per share. As a group, sell-side analysts predict that Lexicon Pharmaceuticals will post -0.69 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Lexicon Pharmaceuticals
A number of hedge funds and other institutional investors have recently modified their holdings of LXRX. Point72 Asset Management L.P. boosted its position in shares of Lexicon Pharmaceuticals by 605.2% in the 2nd 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 acquired a new position in shares of Lexicon Pharmaceuticals in the 2nd quarter valued at $3,871,000. Marshall Wace LLP boosted its position in shares of Lexicon Pharmaceuticals by 138.5% in the 2nd quarter. Marshall Wace LLP now owns 1,190,448 shares of the biopharmaceutical company’s stock valued at $2,000,000 after purchasing an additional 691,276 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Lexicon Pharmaceuticals in the 2nd quarter valued at $912,000. Finally, Vanguard Group Inc. boosted its position in shares of Lexicon Pharmaceuticals by 7.0% in the 1st 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 during the period. Institutional investors and hedge funds own 74.70% of the company’s stock.
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.
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