Lexicon Pharmaceuticals (NASDAQ:LXRX) Coverage Initiated by Analysts at StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a research report issued to clients and investors on Wednesday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

Several other research analysts also recently issued reports on LXRX. Piper Sandler lowered their price objective on Lexicon Pharmaceuticals from $10.00 to $6.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Leerink Partnrs downgraded Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Monday, March 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Lexicon Pharmaceuticals in a research note on Monday, March 3rd. Finally, 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 note on Tuesday, March 4th. One investment 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. Based on data from MarketBeat, Lexicon Pharmaceuticals presently has an average rating of “Hold” and an average price target of $3.67.

Lexicon Pharmaceuticals Stock Up 1.0 %

Shares of NASDAQ LXRX opened at $0.36 on Wednesday. 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 company has a market cap of $88.25 million, a price-to-earnings ratio of -0.48 and a beta of 1.04. Lexicon Pharmaceuticals has a 12 month low of $0.28 and a 12 month high of $2.83. The stock has a 50-day moving average price of $0.71 and a two-hundred day moving average price of $1.11.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its earnings results on Thursday, March 6th. The biopharmaceutical company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.02. The firm 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%. As a group, analysts forecast that Lexicon Pharmaceuticals will post -0.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets boosted 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 worth $50,000 after buying an additional 13,246 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Lexicon Pharmaceuticals by 2.1% during the 4th quarter. Wellington Management Group LLP now owns 747,996 shares of the biopharmaceutical company’s stock worth $552,000 after buying an additional 15,249 shares in the last quarter. Arizona State Retirement System boosted 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. Teacher Retirement System of Texas boosted 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. Finally, Bank of America Corp DE boosted its holdings in shares of Lexicon Pharmaceuticals by 27.4% during the 4th quarter. Bank of America Corp DE now owns 136,407 shares of the biopharmaceutical company’s stock worth $101,000 after buying an additional 29,319 shares in the last quarter. 74.70% of the stock is currently owned by 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.