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

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

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

Lexicon Pharmaceuticals Stock Performance

NASDAQ LXRX opened at $0.57 on Friday. The company has a market capitalization of $140.48 million, a price-to-earnings ratio of -0.76 and a beta of 1.04. 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 has a twelve month low of $0.28 and a twelve month high of $2.45. The stock has a fifty day simple moving average of $0.61 and a 200 day simple moving average of $1.00.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its quarterly earnings results on Thursday, March 6th. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.02. The company had revenue of $26.55 million during the quarter, compared to analysts’ expectations of $6.48 million. Lexicon Pharmaceuticals had a negative return on equity of 107.38% and a negative net margin of 4,109.41%. Sell-side analysts expect that Lexicon Pharmaceuticals will post -0.66 EPS for the current year.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Large investors have recently bought and sold shares of the stock. FMR LLC boosted its position in shares of 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 purchasing an additional 11,179,919 shares in the last quarter. Point72 Asset Management L.P. raised 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 buying an additional 7,758,371 shares during the period. Schonfeld Strategic Advisors LLC boosted its holdings in Lexicon Pharmaceuticals by 301.5% in the fourth 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 in the last quarter. Nantahala Capital Management LLC grew its stake in Lexicon Pharmaceuticals by 186.6% in the fourth quarter. Nantahala Capital Management LLC now owns 6,604,150 shares of the biopharmaceutical company’s stock valued at $4,877,000 after acquiring an additional 4,300,000 shares during the period. Finally, Geode Capital Management LLC grew its stake in Lexicon Pharmaceuticals by 8.4% in the third quarter. Geode Capital Management LLC now owns 3,523,971 shares of the biopharmaceutical company’s stock valued at $5,534,000 after acquiring an additional 273,436 shares during the period. 74.70% of the stock is currently owned by institutional investors and hedge funds.

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.