StockNews.com Initiates Coverage on Lexicon Pharmaceuticals (NASDAQ:LXRX)

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

Several other analysts have also weighed in on the company. Piper Sandler cut their price objective on 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 shares of Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. 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 report on Tuesday, March 4th. HC Wainwright reiterated a “buy” rating and issued a $4.00 target price on shares of Lexicon Pharmaceuticals in a report on Monday, March 3rd. Finally, Needham & Company LLC restated a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Lexicon Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $3.67.

Lexicon Pharmaceuticals Stock Performance

LXRX stock opened at $0.57 on Friday. Lexicon Pharmaceuticals has a 1 year low of $0.28 and a 1 year high of $2.45. The stock has a market capitalization of $140.48 million, a price-to-earnings ratio of -0.76 and a beta of 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. The stock’s fifty day moving average is $0.61 and its two-hundred day moving average is $0.99.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its earnings results 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 firm had revenue of $26.55 million during the quarter, compared to analysts’ expectations of $6.48 million. Lexicon Pharmaceuticals had a negative net margin of 4,109.41% and a negative return on equity of 107.38%. On average, research analysts predict that Lexicon Pharmaceuticals will post -0.66 EPS for the current year.

Institutional Trading of Lexicon Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its stake in Lexicon Pharmaceuticals by 29.9% in the 4th quarter. California State Teachers Retirement System now owns 195,215 shares of the biopharmaceutical company’s stock valued at $144,000 after buying an additional 44,915 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of 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 acquiring an additional 233,121 shares in the last quarter. Tang Capital Management LLC increased its stake 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 worth $628,000 after acquiring 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% during the fourth quarter. Point72 Asset Management L.P. now owns 8,988,421 shares of the biopharmaceutical company’s stock worth $6,638,000 after acquiring an additional 7,758,371 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in Lexicon Pharmaceuticals by 378.0% during 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. 74.70% of the stock is owned by institutional investors and hedge funds.

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.