Lexicon Pharmaceuticals (NASDAQ:LXRX) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a report issued on Wednesday morning. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

LXRX has been the subject of a number of other reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Lexicon Pharmaceuticals in a report on Monday, March 3rd. HC Wainwright reiterated a “buy” rating and set a $4.00 target price on shares of Lexicon Pharmaceuticals in a research report on Monday, March 3rd. Leerink Partners reiterated a “market perform” rating and set a $1.00 target price (down previously from $2.00) on shares of Lexicon Pharmaceuticals in a research report on Tuesday, March 4th. Leerink Partnrs cut shares of Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Finally, Piper Sandler dropped their target price on shares of Lexicon Pharmaceuticals from $10.00 to $6.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $3.67.

Lexicon Pharmaceuticals Price Performance

NASDAQ:LXRX opened at $0.38 on Wednesday. The company has a 50-day moving average of $0.70 and a 200-day moving average of $1.11. The company has a market capitalization of $93.79 million, a price-to-earnings ratio of -0.51 and a beta of 1.04. Lexicon Pharmaceuticals has a 52 week low of $0.28 and a 52 week high of $2.64. The company has a debt-to-equity ratio of 0.56, a quick ratio of 7.43 and a current ratio of 7.45.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its quarterly earnings data on Thursday, March 6th. The biopharmaceutical company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. The company had revenue of $26.55 million during the quarter, compared to the consensus estimate of $6.48 million. Lexicon Pharmaceuticals had a negative net margin of 4,109.41% and a negative return on equity of 107.38%. As a group, equities research analysts anticipate that Lexicon Pharmaceuticals will post -0.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets increased its position 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. Wellington Management Group LLP increased its position in Lexicon Pharmaceuticals by 2.1% in the 4th quarter. Wellington Management Group LLP now owns 747,996 shares of the biopharmaceutical company’s stock valued at $552,000 after acquiring an additional 15,249 shares in the last quarter. Arizona State Retirement System increased its position in Lexicon Pharmaceuticals by 34.4% in the 4th quarter. Arizona State Retirement System now owns 62,976 shares of the biopharmaceutical company’s stock valued at $47,000 after acquiring an additional 16,136 shares in the last quarter. Teacher Retirement System of Texas increased its position in Lexicon Pharmaceuticals by 60.3% in the 4th quarter. Teacher Retirement System of Texas now owns 65,415 shares of the biopharmaceutical company’s stock valued at $48,000 after acquiring an additional 24,615 shares in the last quarter. Finally, Bank of America Corp DE increased its position in Lexicon Pharmaceuticals by 27.4% in the 4th quarter. Bank of America Corp DE now owns 136,407 shares of the biopharmaceutical company’s stock valued at $101,000 after acquiring an additional 29,319 shares in 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.