StockNews.com Begins Coverage on Lexicon Pharmaceuticals (NASDAQ:LXRX)

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

Several other equities analysts have also recently issued reports on the company. Leerink Partnrs cut Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Leerink Partners reaffirmed a “market perform” rating and set a $1.00 target price (down from $2.00) on shares of Lexicon Pharmaceuticals in a report on Tuesday, March 4th. Piper Sandler cut their price target on shares of Lexicon Pharmaceuticals from $10.00 to $6.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Monday, March 3rd. Finally, HC Wainwright reissued a “buy” rating and set a $4.00 target price on shares of Lexicon Pharmaceuticals in a research note on Friday, March 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $3.67.

Lexicon Pharmaceuticals Price Performance

Shares of NASDAQ LXRX opened at $0.42 on Friday. The stock has a market cap of $103.15 million, a P/E ratio of -0.56 and a beta of 1.04. The firm’s 50-day simple moving average is $0.57 and its 200 day simple moving average is $0.96. Lexicon Pharmaceuticals has a fifty-two week low of $0.28 and a fifty-two week high of $2.45. 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 results on Thursday, March 6th. The biopharmaceutical company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. The company had revenue of $26.55 million for the quarter, compared to the consensus estimate of $6.48 million. Lexicon Pharmaceuticals had a negative net margin of 4,109.41% and a negative return on equity of 107.38%. Equities 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 bought and sold shares of LXRX. California State Teachers Retirement System increased its position in shares of Lexicon Pharmaceuticals by 29.9% in the fourth quarter. California State Teachers Retirement System now owns 195,215 shares of the biopharmaceutical company’s stock worth $144,000 after acquiring an additional 44,915 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Lexicon Pharmaceuticals by 193.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 353,508 shares of the biopharmaceutical company’s stock valued at $261,000 after purchasing an additional 233,121 shares during the period. Tang Capital Management LLC lifted its holdings in shares of Lexicon Pharmaceuticals by 750.3% in the fourth quarter. Tang Capital Management LLC now owns 850,268 shares of the biopharmaceutical company’s stock valued at $628,000 after purchasing an additional 750,268 shares in the last quarter. Point72 Asset Management L.P. boosted its position in shares of Lexicon Pharmaceuticals by 630.7% in the fourth 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 period. Finally, Deutsche Bank AG grew its holdings in shares of Lexicon Pharmaceuticals by 378.0% during the fourth quarter. Deutsche Bank AG now owns 315,659 shares of the biopharmaceutical company’s stock valued at $234,000 after buying an additional 249,616 shares in the last quarter. Hedge funds and other institutional investors 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.