Lexicon Pharmaceuticals (NASDAQ:LXRX) Earns Sell Rating from Analysts at StockNews.com

Research analysts at StockNews.com initiated coverage on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a research report issued to clients and investors on Friday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

LXRX has been the subject of several other research reports. Leerink Partnrs lowered shares of Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Leerink Partners reaffirmed a “market perform” rating and issued a $1.00 price objective (down from $2.00) on shares of Lexicon Pharmaceuticals in a research report on Tuesday, March 4th. Needham & Company LLC reissued a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Monday, March 3rd. Piper Sandler cut their target price on Lexicon Pharmaceuticals from $10.00 to $6.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $4.00 price target on shares of Lexicon Pharmaceuticals in a research report on Monday, March 3rd. 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 stock. Based on data from MarketBeat.com, Lexicon Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $3.67.

Lexicon Pharmaceuticals Stock Performance

Shares of LXRX opened at $0.57 on Friday. The firm has a market capitalization of $140.48 million, a P/E ratio of -0.76 and a beta of 1.04. Lexicon Pharmaceuticals has a 52 week low of $0.28 and a 52 week high of $2.45. The stock has a 50 day moving average price of $0.61 and a two-hundred day moving average price of $1.00. 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 announced its earnings results on Thursday, March 6th. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.02. The company had revenue of $26.55 million for the quarter, compared to analysts’ expectations of $6.48 million. Lexicon Pharmaceuticals had a negative return on equity of 107.38% and a negative net margin of 4,109.41%. Equities analysts forecast that Lexicon Pharmaceuticals will post -0.66 earnings per share for the current fiscal year.

Institutional Trading of Lexicon Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC boosted its stake in Lexicon Pharmaceuticals by 28.9% in 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 during the last quarter. Point72 Asset Management L.P. raised its holdings in shares of 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 lifted its stake in 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 valued at $5,582,000 after purchasing an additional 5,676,021 shares during the last quarter. Nantahala Capital Management LLC grew its holdings in Lexicon Pharmaceuticals by 186.6% during the fourth quarter. Nantahala Capital Management LLC now owns 6,604,150 shares of the biopharmaceutical company’s stock valued at $4,877,000 after purchasing an additional 4,300,000 shares during the period. Finally, Geode Capital Management LLC grew its holdings 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 during the period. Institutional investors 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.