Needham & Company LLC Reiterates “Hold” Rating for Lexicon Pharmaceuticals (NASDAQ:LXRX)

Lexicon Pharmaceuticals (NASDAQ:LXRX)‘s stock had its “hold” rating restated by equities researchers at Needham & Company LLC in a research report issued on Monday,Benzinga reports.

Several other research firms have also commented on LXRX. HC Wainwright reissued a “buy” rating and set a $6.00 price objective on shares of Lexicon Pharmaceuticals in a research note on Wednesday, November 13th. 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 research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $6.00.

Lexicon Pharmaceuticals Stock Down 8.4 %

Shares of NASDAQ:LXRX opened at $0.76 on Monday. The firm has a market capitalization of $186.60 million, a P/E ratio of -1.01 and a beta of 1.07. The company has a debt-to-equity ratio of 0.56, a quick ratio of 7.43 and a current ratio of 7.45. The stock has a 50 day moving average price of $1.16 and a 200-day moving average price of $1.56. Lexicon Pharmaceuticals has a 52-week low of $0.62 and a 52-week high of $3.73.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.18) earnings per share (EPS) 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 firm had revenue of $1.75 million during the quarter, compared to the consensus estimate of $3.14 million. During the same quarter last year, the company posted ($0.21) EPS. As a group, equities research analysts anticipate that Lexicon Pharmaceuticals will post -0.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. FMR LLC increased its position in shares of Lexicon Pharmaceuticals by 28.9% during the third quarter. FMR LLC now owns 49,867,042 shares of the biopharmaceutical company’s stock valued at $78,291,000 after acquiring an additional 11,179,919 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Lexicon Pharmaceuticals by 4.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,417,295 shares of the biopharmaceutical company’s stock worth $2,225,000 after purchasing an additional 58,147 shares in the last quarter. Nantahala Capital Management LLC purchased a new position in shares of Lexicon Pharmaceuticals in the second quarter worth $3,871,000. XTX Topco Ltd bought a new position in shares of Lexicon Pharmaceuticals during the third quarter valued at $126,000. Finally, Point72 Asset Management L.P. boosted its position in shares of Lexicon Pharmaceuticals by 605.2% during the second quarter. Point72 Asset Management L.P. now owns 4,121,191 shares of the biopharmaceutical company’s stock valued at $6,924,000 after buying an additional 3,536,805 shares during the last quarter. 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.