Lexicon Pharmaceuticals (NASDAQ:LXRX) Earns “Buy” Rating from HC Wainwright

Lexicon Pharmaceuticals (NASDAQ:LXRX)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $6.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s target price indicates a potential upside of 466.04% from the company’s current price.

Other research analysts have also issued reports about the company. Needham & Company LLC restated a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Wednesday, October 30th. Leerink Partners set a $6.00 price target on Lexicon Pharmaceuticals and gave the company an “outperform” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Lexicon Pharmaceuticals currently has an average rating of “Hold” and an average target price of $6.00.

Lexicon Pharmaceuticals Stock Performance

Lexicon Pharmaceuticals stock opened at $1.06 on Wednesday. Lexicon Pharmaceuticals has a 1 year low of $1.01 and a 1 year high of $3.73. The company’s 50-day moving average is $1.64 and its two-hundred day moving average is $1.74. The company has a current ratio of 11.51, a quick ratio of 11.49 and a debt-to-equity ratio of 0.41. The company has a market cap of $261.01 million, a PE ratio of -1.45 and a beta of 1.24.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Hedge funds have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Lexicon Pharmaceuticals in the third quarter valued at approximately $189,000. BBR Partners LLC raised its stake in shares of Lexicon Pharmaceuticals by 74.1% in the 3rd quarter. BBR Partners LLC now owns 470,000 shares of the biopharmaceutical company’s stock valued at $738,000 after purchasing an additional 200,000 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Lexicon Pharmaceuticals by 71.2% in the third quarter. BNP Paribas Financial Markets now owns 31,853 shares of the biopharmaceutical company’s stock valued at $50,000 after purchasing an additional 13,246 shares in the last quarter. FMR LLC grew its holdings in shares of Lexicon Pharmaceuticals by 28.9% during the third quarter. FMR LLC now owns 49,867,042 shares of the biopharmaceutical company’s stock worth $78,291,000 after buying an additional 11,179,919 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Lexicon Pharmaceuticals by 4.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,417,295 shares of the biopharmaceutical company’s stock worth $2,225,000 after buying an additional 58,147 shares in the last quarter. 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.