Lexicon Pharmaceuticals (NASDAQ:LXRX) Coverage Initiated at StockNews.com

Research analysts at StockNews.com started coverage on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a note issued to investors on Thursday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

LXRX has been the topic of a number of other research reports. 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 Partnrs downgraded shares of Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Piper Sandler dropped their target price on shares of Lexicon Pharmaceuticals from $10.00 to $6.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. Needham & Company LLC reiterated a “hold” rating 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 price objective (down previously from $2.00) on shares of Lexicon Pharmaceuticals in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $3.67.

Lexicon Pharmaceuticals Trading Up 5.3 %

NASDAQ:LXRX opened at $0.36 on Thursday. The firm’s fifty day moving average is $0.64 and its 200-day moving average is $1.04. 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 has a 52 week low of $0.28 and a 52 week high of $2.47. The firm has a market cap of $89.43 million, a P/E ratio of -0.48 and a beta of 1.04.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its earnings results 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 net margin of 4,109.41% and a negative return on equity of 107.38%. The company had revenue of $26.55 million for the quarter, compared to the consensus estimate of $6.48 million. Equities analysts expect that Lexicon Pharmaceuticals will post -0.66 earnings per share for the current year.

Institutional Trading of Lexicon Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System raised its holdings in shares of Lexicon Pharmaceuticals by 29.9% in the fourth quarter. California State Teachers Retirement System now owns 195,215 shares of the biopharmaceutical company’s stock valued at $144,000 after purchasing an additional 44,915 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Lexicon Pharmaceuticals by 193.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 353,508 shares of the biopharmaceutical company’s stock valued at $261,000 after purchasing an additional 233,121 shares during the last quarter. Tang Capital Management LLC raised its holdings in shares of Lexicon Pharmaceuticals by 750.3% in the fourth quarter. Tang Capital Management LLC now owns 850,268 shares of the biopharmaceutical company’s stock valued at $628,000 after purchasing an additional 750,268 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in shares of 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. Finally, Deutsche Bank AG raised its holdings in shares of Lexicon Pharmaceuticals by 378.0% in the fourth quarter. Deutsche Bank AG now owns 315,659 shares of the biopharmaceutical company’s stock valued at $234,000 after purchasing an additional 249,616 shares during the last quarter. Hedge funds and other 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.