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

Investment analysts at StockNews.com assumed coverage on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a research note issued on Saturday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently issued reports on LXRX. Piper Sandler decreased their price objective on shares of Lexicon Pharmaceuticals from $10.00 to $6.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Leerink Partnrs lowered Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. HC Wainwright restated a “buy” rating and issued a $4.00 target price on shares of Lexicon Pharmaceuticals in a report on Friday, March 28th. Needham & Company LLC reiterated a “hold” rating on shares of Lexicon Pharmaceuticals in a report on Monday, March 3rd. Finally, Leerink Partners reiterated a “market perform” rating and issued a $1.00 target price (down from $2.00) on shares of Lexicon Pharmaceuticals in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $3.67.

Lexicon Pharmaceuticals Trading Down 5.5 %

Shares of NASDAQ:LXRX opened at $0.42 on Friday. The firm has a fifty day moving average of $0.57 and a two-hundred day moving average of $0.96. The company has a quick ratio of 7.43, a current ratio of 7.45 and a debt-to-equity ratio of 0.56. Lexicon Pharmaceuticals has a 12-month low of $0.28 and a 12-month high of $2.45. The firm has a market capitalization of $103.15 million, a P/E ratio of -0.56 and a beta of 1.04.

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

Institutional Investors Weigh In On Lexicon Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in LXRX. Point72 Asset Management L.P. increased its holdings in Lexicon Pharmaceuticals by 630.7% in the fourth quarter. Point72 Asset Management L.P. now owns 8,988,421 shares of the biopharmaceutical company’s stock valued at $6,638,000 after purchasing an additional 7,758,371 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its position in shares of Lexicon Pharmaceuticals by 301.5% during the 4th 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 position in shares of 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 worth $4,877,000 after buying an additional 4,300,000 shares during the period. Tang Capital Management LLC increased its stake in shares of Lexicon Pharmaceuticals by 750.3% in the 4th quarter. Tang Capital Management LLC now owns 850,268 shares of the biopharmaceutical company’s stock valued at $628,000 after acquiring an additional 750,268 shares during the last quarter. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Lexicon Pharmaceuticals in the 4th quarter valued at approximately $355,000. 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.