Lexicon Pharmaceuticals (NASDAQ:LXRX) Receives Hold Rating from Needham & Company LLC

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

A number of other equities analysts also recently commented on the company. HC Wainwright reissued a “buy” rating and set a $4.00 price objective on shares of Lexicon Pharmaceuticals in a research report on Wednesday. Leerink Partners set a $6.00 price target on shares of Lexicon Pharmaceuticals and gave the stock an “outperform” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $5.00.

Lexicon Pharmaceuticals Trading Down 0.7 %

Shares of LXRX stock opened at $0.82 on Wednesday. Lexicon Pharmaceuticals has a fifty-two week low of $0.62 and a fifty-two week high of $3.73. The company has a 50 day moving average price of $0.79 and a 200 day moving average price of $1.38. The stock has a market capitalization of $201.77 million, a P/E ratio of -1.09 and a beta of 1.06. The company has a debt-to-equity ratio of 0.56, a quick ratio of 7.43 and a current ratio of 7.45.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.01). The business had revenue of $1.75 million during the quarter, compared to analyst estimates of $3.14 million. Lexicon Pharmaceuticals had a negative return on equity of 107.38% and a negative net margin of 4,109.41%. During the same quarter last year, the firm earned ($0.21) EPS. Equities research analysts predict that Lexicon Pharmaceuticals will post -0.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in LXRX. FMR LLC increased its stake in Lexicon Pharmaceuticals by 28.9% in the third quarter. FMR LLC now owns 49,867,042 shares of the biopharmaceutical company’s stock valued at $78,291,000 after purchasing an additional 11,179,919 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Lexicon Pharmaceuticals by 605.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 4,121,191 shares of the biopharmaceutical company’s stock valued at $6,924,000 after buying an additional 3,536,805 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Lexicon Pharmaceuticals by 8.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,523,971 shares of the biopharmaceutical company’s stock valued at $5,534,000 after buying an additional 273,436 shares during the last quarter. State Street Corp raised its stake in Lexicon Pharmaceuticals by 6.8% during the 3rd quarter. State Street Corp now owns 2,471,215 shares of the biopharmaceutical company’s stock worth $3,880,000 after acquiring an additional 157,738 shares in the last quarter. Finally, Pinnacle Associates Ltd. lifted its position in Lexicon Pharmaceuticals by 0.9% in the third quarter. Pinnacle Associates Ltd. now owns 1,730,821 shares of the biopharmaceutical company’s stock valued at $2,648,000 after acquiring an additional 14,990 shares during the last quarter. Institutional investors and hedge funds 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.