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

Lexicon Pharmaceuticals (NASDAQ:LXRX)‘s stock had its “buy” rating reiterated by HC Wainwright in a research report issued on Wednesday,Benzinga reports. They currently have a $6.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s target price would suggest a potential upside of 466.04% from the stock’s previous close.

A number of other analysts have also recently issued reports on LXRX. Leerink Partners set a $6.00 price objective on Lexicon Pharmaceuticals and gave the company an “outperform” rating in a research report on Friday, October 18th. Needham & Company LLC restated a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.00.

Lexicon Pharmaceuticals Price Performance

Shares of LXRX opened at $1.06 on Wednesday. The company has a current ratio of 11.51, a quick ratio of 11.49 and a debt-to-equity ratio of 0.41. The company’s fifty day simple moving average is $1.64 and its 200 day simple moving average is $1.74. Lexicon Pharmaceuticals has a 1-year low of $1.01 and a 1-year high of $3.73. The company has a market cap of $261.01 million, a price-to-earnings ratio of -1.45 and a beta of 1.24.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CVI Holdings LLC acquired a new position in shares of Lexicon Pharmaceuticals in the second quarter valued at about $34,000. Principal Financial Group Inc. grew its position in Lexicon Pharmaceuticals by 116.1% during the second quarter. Principal Financial Group Inc. now owns 22,759 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 12,225 shares in the last quarter. Great Point Partners LLC bought a new position in Lexicon Pharmaceuticals during the 2nd quarter worth $50,000. BNP Paribas Financial Markets raised its holdings in Lexicon Pharmaceuticals by 71.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 31,853 shares of the biopharmaceutical company’s stock valued at $50,000 after acquiring an additional 13,246 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Lexicon Pharmaceuticals during the first quarter worth about $105,000. 74.70% of the stock is owned by institutional investors and hedge funds.

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.