Lexicon Pharmaceuticals (NASDAQ:LXRX) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a report published on Wednesday, Benzinga reports.

LXRX has been the subject of a number of other reports. Leerink Partners set a $6.00 price target on shares of Lexicon Pharmaceuticals and gave the stock an “outperform” rating in a research report on Friday, October 18th. StockNews.com raised shares of Lexicon Pharmaceuticals to a “sell” rating in a research report on Tuesday, July 9th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of Lexicon Pharmaceuticals in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $8.00.

Lexicon Pharmaceuticals Price Performance

NASDAQ LXRX opened at $1.22 on Wednesday. The company has a 50 day simple moving average of $1.72 and a 200-day simple moving average of $1.76. 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 has a 52-week low of $0.92 and a 52-week high of $3.73.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted 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 business had revenue of $1.65 million during the quarter, compared to analyst estimates of $2.74 million. Lexicon Pharmaceuticals had a negative net margin of 5,509.34% and a negative return on equity of 105.38%. During the same period in the prior year, the firm earned ($0.22) earnings per share. Research analysts anticipate that Lexicon Pharmaceuticals will post -0.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CVI Holdings LLC acquired a new position in Lexicon Pharmaceuticals during the second quarter valued at approximately $34,000. Principal Financial Group Inc. grew its holdings 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 valued at $38,000 after purchasing an additional 12,225 shares during the last quarter. Great Point Partners LLC acquired a new position in Lexicon Pharmaceuticals during the second quarter valued at approximately $50,000. Virtu Financial LLC acquired a new position in Lexicon Pharmaceuticals during the first quarter valued at approximately $105,000. Finally, Victory Capital Management Inc. grew its holdings in Lexicon Pharmaceuticals by 44.5% during the second quarter. Victory Capital Management Inc. now owns 45,341 shares of the biopharmaceutical company’s stock valued at $76,000 after purchasing an additional 13,972 shares during the last quarter. 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.