Lexicon Pharmaceuticals (NASDAQ:LXRX) Cut to “Hold” at Leerink Partnrs

Leerink Partnrs downgraded shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) from a strong-buy rating to a hold rating in a report published on Wednesday morning,Zacks.com reports.

A number of other brokerages have also weighed in on LXRX. Needham & Company LLC restated a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Monday, March 3rd. HC Wainwright restated a “buy” rating and set a $4.00 target price on shares of Lexicon Pharmaceuticals in a research report on Monday, March 3rd. Finally, Leerink Partners restated 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $3.67.

Lexicon Pharmaceuticals Stock Performance

LXRX opened at $0.39 on Wednesday. The firm has a market cap of $96.48 million, a P/E ratio of -0.52 and a beta of 1.04. Lexicon Pharmaceuticals has a 1-year low of $0.28 and a 1-year high of $2.83. The company has a 50 day simple moving average of $0.73 and a two-hundred day simple moving average of $1.14. The company has a debt-to-equity ratio of 0.56, a current ratio of 7.45 and a quick ratio of 7.43.

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

Institutional Investors Weigh In On Lexicon Pharmaceuticals

A number of hedge funds have recently bought and sold shares of LXRX. Intech Investment Management LLC purchased a new stake in Lexicon Pharmaceuticals during the third quarter valued at $115,000. Charles Schwab Investment Management Inc. raised its stake in Lexicon Pharmaceuticals by 4.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,417,295 shares of the biopharmaceutical company’s stock valued at $2,225,000 after purchasing an additional 58,147 shares in the last quarter. FMR LLC raised its stake in 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 purchasing an additional 11,179,919 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Lexicon Pharmaceuticals by 71.2% during the third quarter. BNP Paribas Financial Markets now owns 31,853 shares of the biopharmaceutical company’s stock valued at $50,000 after purchasing an additional 13,246 shares in the last quarter. Finally, BBR Partners LLC raised its stake in Lexicon Pharmaceuticals by 74.1% during the third quarter. BBR Partners LLC now owns 470,000 shares of the biopharmaceutical company’s stock valued at $738,000 after purchasing an additional 200,000 shares in the last quarter. Hedge funds and other institutional investors 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.