Needham & Company LLC Reaffirms “Hold” Rating for Lexicon Pharmaceuticals (NASDAQ:LXRX)

Lexicon Pharmaceuticals (NASDAQ:LXRX)‘s stock had its “hold” rating reiterated by Needham & Company LLC in a research report issued on Friday,Benzinga reports.

Other equities research analysts have also recently issued research reports about the company. HC Wainwright reiterated a “buy” rating and issued a $6.00 price objective on shares of Lexicon Pharmaceuticals in a research note on Wednesday, November 13th. Leerink Partners set a $6.00 price target on shares of Lexicon Pharmaceuticals and gave the stock an “outperform” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.00.

Lexicon Pharmaceuticals Stock Up 11.9 %

Shares of NASDAQ:LXRX opened at $0.86 on Friday. The firm has a 50 day simple moving average of $1.53 and a 200-day simple moving average of $1.70. Lexicon Pharmaceuticals has a twelve month low of $0.73 and a twelve month high of $3.73. 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 capitalization of $212.60 million, a PE ratio of -1.15 and a beta of 1.24.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.01). Lexicon Pharmaceuticals had a negative net margin of 4,109.41% and a negative return on equity of 107.38%. The company had revenue of $1.75 million during the quarter, compared to analyst estimates of $3.14 million. During the same quarter in the prior year, the company earned ($0.21) EPS. On average, equities analysts predict that Lexicon Pharmaceuticals will post -0.69 EPS for the current fiscal year.

Institutional Trading of Lexicon Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. CVI Holdings LLC acquired a new stake in Lexicon Pharmaceuticals in the second quarter valued at about $34,000. Principal Financial Group Inc. lifted its holdings in shares of Lexicon Pharmaceuticals by 116.1% in the 2nd quarter. Principal Financial Group Inc. now owns 22,759 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 12,225 shares during the period. Great Point Partners LLC purchased a new stake in shares of Lexicon Pharmaceuticals in the second quarter valued at approximately $50,000. BNP Paribas Financial Markets grew its holdings in Lexicon Pharmaceuticals by 71.2% during the third quarter. BNP Paribas Financial Markets now owns 31,853 shares of the biopharmaceutical company’s stock worth $50,000 after acquiring an additional 13,246 shares during the period. Finally, SG Americas Securities LLC raised its position in Lexicon Pharmaceuticals by 107.6% in the third quarter. SG Americas Securities LLC now owns 46,090 shares of the biopharmaceutical company’s stock worth $72,000 after acquiring an additional 23,893 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.