HC Wainwright Reaffirms “Buy” Rating for Lexicon Pharmaceuticals (NASDAQ:LXRX)

HC Wainwright reissued their buy rating on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a research report report published on Wednesday, Benzinga reports. HC Wainwright currently has a $10.00 target price on the biopharmaceutical company’s stock.

Other analysts also recently issued reports about the company. StockNews.com upgraded Lexicon Pharmaceuticals to a “sell” rating in a research report on Tuesday, July 9th. Needham & Company LLC restated a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Wednesday. Finally, Leerink Partners set a $6.00 price target on Lexicon Pharmaceuticals and gave the stock an “outperform” rating in a research 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 assigned a buy rating to the company. Based on data from MarketBeat.com, Lexicon Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $8.00.

Lexicon Pharmaceuticals Stock Down 37.4 %

LXRX stock opened at $1.22 on Wednesday. The firm has a fifty day moving average price of $1.72 and a 200 day moving average price of $1.76. Lexicon Pharmaceuticals has a fifty-two week low of $0.92 and a fifty-two week high of $3.73. The company has a debt-to-equity ratio of 0.41, a current ratio of 11.51 and a quick ratio of 11.49.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. The company had revenue of $1.65 million during the quarter, compared to the consensus estimate of $2.74 million. Lexicon Pharmaceuticals had a negative return on equity of 105.38% and a negative net margin of 5,509.34%. During the same period last year, the company earned ($0.22) earnings per share. Sell-side analysts forecast that Lexicon Pharmaceuticals will post -0.69 earnings per share for the current fiscal year.

Institutional Trading of Lexicon Pharmaceuticals

A number of large investors have recently made changes to their positions in the stock. Pinnacle Associates Ltd. boosted its stake in shares of Lexicon Pharmaceuticals by 0.9% during the third quarter. Pinnacle Associates Ltd. now owns 1,730,821 shares of the biopharmaceutical company’s stock valued at $2,648,000 after purchasing an additional 14,990 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in shares of Lexicon Pharmaceuticals by 63.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 69,527 shares of the biopharmaceutical company’s stock valued at $109,000 after purchasing an additional 27,058 shares during the period. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Lexicon Pharmaceuticals by 34.7% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 731,138 shares of the biopharmaceutical company’s stock valued at $1,148,000 after purchasing an additional 188,239 shares during the period. Compagnie Lombard Odier SCmA boosted its stake in shares of Lexicon Pharmaceuticals by 6.4% during the third quarter. Compagnie Lombard Odier SCmA now owns 100,000 shares of the biopharmaceutical company’s stock valued at $157,000 after purchasing an additional 6,000 shares during the period. Finally, SG Americas Securities LLC lifted its stake 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 during the period. 74.70% of the stock is owned by hedge funds and other institutional investors.

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.