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

Analysts at StockNews.com initiated coverage on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a note issued to investors on Thursday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

A number of other analysts have also recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Lexicon Pharmaceuticals in a research report on Monday, March 3rd. Leerink Partnrs cut Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Leerink Partners reissued a “market perform” rating and set a $1.00 price target (down from $2.00) on shares of Lexicon Pharmaceuticals in a report on Tuesday, March 4th. Needham & Company LLC reissued a “hold” rating on shares of Lexicon Pharmaceuticals in a report on Monday, March 3rd. Finally, Piper Sandler dropped their price target on Lexicon Pharmaceuticals from $10.00 to $6.00 and set an “overweight” rating for the company in a report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $3.67.

Lexicon Pharmaceuticals Stock Performance

LXRX opened at $0.36 on Thursday. Lexicon Pharmaceuticals has a 12-month low of $0.28 and a 12-month high of $2.59. The stock has a market cap of $88.03 million, a price-to-earnings ratio of -0.48 and a beta of 1.04. The business has a 50 day moving average of $0.66 and a 200-day moving average of $1.06. The company has a quick ratio of 7.43, a current ratio of 7.45 and a debt-to-equity ratio of 0.56.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its quarterly earnings data on Thursday, March 6th. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, beating 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 company had revenue of $26.55 million during the quarter, compared to analysts’ expectations of $6.48 million. On average, equities research analysts expect that Lexicon Pharmaceuticals will post -0.66 earnings per share for the current year.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in LXRX. FMR LLC increased its stake 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 during the period. Point72 Asset Management L.P. increased its stake 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 acquiring an additional 7,758,371 shares during the period. Schonfeld Strategic Advisors LLC increased its stake in Lexicon Pharmaceuticals by 301.5% during 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 during the period. Nantahala Capital Management LLC increased its stake in Lexicon Pharmaceuticals by 186.6% during the 4th quarter. Nantahala Capital Management LLC now owns 6,604,150 shares of the biopharmaceutical company’s stock worth $4,877,000 after acquiring an additional 4,300,000 shares during the period. Finally, Tang Capital Management LLC increased its stake in Lexicon Pharmaceuticals by 750.3% during the 4th quarter. Tang Capital Management LLC now owns 850,268 shares of the biopharmaceutical company’s stock worth $628,000 after acquiring an additional 750,268 shares during the period. Institutional investors 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.