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

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

LXRX has been the topic of a number of other research reports. Piper Sandler lowered their price target on Lexicon Pharmaceuticals from $10.00 to $6.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. Leerink Partnrs downgraded Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Monday, March 3rd. HC Wainwright reissued a “buy” rating and set a $4.00 price target on shares of Lexicon Pharmaceuticals in a research note on Monday, March 3rd. Finally, Leerink Partners restated a “market perform” rating and issued a $1.00 price objective (down 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 issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Lexicon Pharmaceuticals currently has an average rating of “Hold” and an average price target of $3.67.

Lexicon Pharmaceuticals Stock Up 5.3 %

LXRX opened at $0.36 on Thursday. Lexicon Pharmaceuticals has a one year low of $0.28 and a one year high of $2.47. The company has a fifty day moving average price of $0.64 and a 200-day moving average price of $1.04. The company has a debt-to-equity ratio of 0.56, a current ratio of 7.45 and a quick ratio of 7.43. The firm has a market capitalization of $89.43 million, a P/E ratio of -0.48 and a beta of 1.04.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its quarterly earnings data on Thursday, March 6th. The biopharmaceutical company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.02. The company had revenue of $26.55 million during the quarter, compared to analyst estimates 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 research analysts expect that Lexicon Pharmaceuticals will post -0.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of LXRX. California State Teachers Retirement System lifted its position in 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 Lexicon Pharmaceuticals by 193.6% during the 4th 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 buying an additional 233,121 shares during the last quarter. Tang Capital Management LLC raised its holdings in Lexicon Pharmaceuticals by 750.3% during the 4th quarter. Tang Capital Management LLC now owns 850,268 shares of the biopharmaceutical company’s stock valued at $628,000 after buying an additional 750,268 shares during the last quarter. Point72 Asset Management L.P. boosted its position in Lexicon Pharmaceuticals by 630.7% during the 4th quarter. Point72 Asset Management L.P. now owns 8,988,421 shares of the biopharmaceutical company’s stock valued at $6,638,000 after buying an additional 7,758,371 shares during the period. Finally, Deutsche Bank AG grew its holdings in Lexicon Pharmaceuticals by 378.0% in the 4th quarter. Deutsche Bank AG now owns 315,659 shares of the biopharmaceutical company’s stock worth $234,000 after acquiring an additional 249,616 shares during the last quarter. 74.70% of the stock is currently owned by institutional investors.

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.