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

Needham & Company LLC reissued their hold rating on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a research report sent to investors on Friday morning,Benzinga reports.

LXRX has been the topic of several other reports. HC Wainwright reissued a “buy” rating and issued a $6.00 price target on shares of Lexicon Pharmaceuticals in a research note on Wednesday, November 13th. Leerink Partners set a $6.00 price target on shares of Lexicon Pharmaceuticals and gave the stock an “outperform” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lexicon Pharmaceuticals has an average rating of “Hold” and an average target price of $6.00.

Lexicon Pharmaceuticals Stock Down 5.8 %

Shares of NASDAQ LXRX opened at $0.81 on Friday. The company’s 50-day simple moving average is $1.51 and its 200-day simple moving average is $1.69. Lexicon Pharmaceuticals has a 52-week low of $0.73 and a 52-week high of $3.73. The firm has a market cap of $200.24 million, a price-to-earnings ratio of -1.08 and a beta of 1.24. 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 (NASDAQ:LXRX) last posted its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.18) earnings per share 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 analysts’ expectations 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 period in the prior year, the business posted ($0.21) earnings per share. Equities analysts predict that Lexicon Pharmaceuticals will post -0.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the company. CVI Holdings LLC purchased a new stake in shares of Lexicon Pharmaceuticals in the 2nd quarter valued at approximately $34,000. Principal Financial Group Inc. raised its stake in shares of Lexicon Pharmaceuticals by 116.1% in the 2nd quarter. Principal Financial Group Inc. now owns 22,759 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 12,225 shares during the period. Great Point Partners LLC purchased a new stake in shares of Lexicon Pharmaceuticals in the 2nd quarter valued at approximately $50,000. BNP Paribas Financial Markets raised its stake in shares of 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 during the period. Finally, SG Americas Securities LLC raised its stake in shares of Lexicon Pharmaceuticals by 107.6% in the 3rd quarter. SG Americas Securities LLC now owns 46,090 shares of the biopharmaceutical company’s stock valued at $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.

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.