Lexicon Pharmaceuticals’ (LXRX) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a report published on Wednesday morning,Benzinga reports. HC Wainwright currently has a $4.00 price target on the biopharmaceutical company’s stock.

LXRX has been the subject of a number of other reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Monday, December 23rd. Leerink Partners set a $6.00 target price on Lexicon Pharmaceuticals and gave the company an “outperform” rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $5.00.

Lexicon Pharmaceuticals Stock Performance

LXRX stock opened at $0.76 on Wednesday. The company has a 50-day simple moving average of $0.79 and a 200 day simple moving average of $1.37. The company has a market capitalization of $186.20 million, a P/E ratio of -1.01 and a beta of 1.06. 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 fifty-two week low of $0.62 and a fifty-two week high of $3.73.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. lifted its position in shares of Lexicon Pharmaceuticals by 18.1% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 863,255 shares of the biopharmaceutical company’s stock valued at $638,000 after acquiring an additional 132,117 shares during the last quarter. Barclays PLC raised its position in shares of Lexicon Pharmaceuticals by 391.6% during the third quarter. Barclays PLC now owns 193,873 shares of the biopharmaceutical company’s stock worth $304,000 after purchasing an additional 154,436 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Lexicon Pharmaceuticals by 8.4% during 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 purchasing an additional 273,436 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Lexicon Pharmaceuticals in the 3rd quarter valued at $126,000. Finally, State Street Corp boosted its position in shares of Lexicon Pharmaceuticals by 6.8% in the 3rd quarter. State Street Corp now owns 2,471,215 shares of the biopharmaceutical company’s stock valued at $3,880,000 after purchasing an additional 157,738 shares during the period. 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.