Leerink Partners Reiterates Market Perform Rating for Lexicon Pharmaceuticals (NASDAQ:LXRX)

Lexicon Pharmaceuticals (NASDAQ:LXRX)‘s stock had its “market perform” rating reaffirmed by research analysts at Leerink Partners in a report issued on Tuesday,Benzinga reports. They presently have a $1.00 price objective on the biopharmaceutical company’s stock. Leerink Partners’ price objective indicates a potential upside of 207.88% from the stock’s previous close.

LXRX has been the subject of several other reports. HC Wainwright reaffirmed a “buy” rating and issued a $4.00 target price on shares of Lexicon Pharmaceuticals in a research note on Monday. Needham & Company LLC reiterated a “hold” rating on shares of Lexicon Pharmaceuticals in a report on Monday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $2.50.

Lexicon Pharmaceuticals Price Performance

Shares of NASDAQ LXRX traded up $0.03 during trading on Tuesday, reaching $0.32. The company had a trading volume of 23,720,864 shares, compared to its average volume of 3,924,525. The company has a current ratio of 7.45, a quick ratio of 7.43 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $79.98 million, a PE ratio of -0.43 and a beta of 1.04. Lexicon Pharmaceuticals has a twelve month low of $0.28 and a twelve month high of $2.83. The stock has a 50-day moving average price of $0.76 and a two-hundred day moving average price of $1.17.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the business. FMR LLC boosted its stake in Lexicon Pharmaceuticals by 28.9% during the 3rd quarter. FMR LLC now owns 49,867,042 shares of the biopharmaceutical company’s stock valued at $78,291,000 after purchasing an additional 11,179,919 shares during the period. Point72 Asset Management L.P. boosted its stake in Lexicon Pharmaceuticals by 630.7% in the 4th quarter. Point72 Asset Management L.P. now owns 8,988,421 shares of the biopharmaceutical company’s stock worth $6,638,000 after purchasing an additional 7,758,371 shares during the period. Schonfeld Strategic Advisors LLC boosted its position in shares of Lexicon Pharmaceuticals by 301.5% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 7,558,621 shares of the biopharmaceutical company’s stock worth $5,582,000 after buying an additional 5,676,021 shares during the period. Nantahala Capital Management LLC grew its stake in Lexicon Pharmaceuticals by 186.6% during the 4th quarter. Nantahala Capital Management LLC now owns 6,604,150 shares of the biopharmaceutical company’s stock valued at $4,877,000 after acquiring an additional 4,300,000 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Lexicon Pharmaceuticals by 8.4% during the third quarter. Geode Capital Management LLC now owns 3,523,971 shares of the biopharmaceutical company’s stock valued at $5,534,000 after purchasing an additional 273,436 shares in the last quarter. Institutional investors and hedge funds own 74.70% of the company’s stock.

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.