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

StockNews.com started coverage on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a research note issued to investors on Sunday morning. The firm issued a sell rating on the biopharmaceutical company’s stock.

LXRX has been the topic of several other reports. Leerink Partners reissued 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. Piper Sandler cut their price target 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. Needham & Company LLC restated a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Monday, March 3rd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $4.00 price target on shares of Lexicon Pharmaceuticals in a research note on Friday, March 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. 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 3.4 %

NASDAQ LXRX opened at $0.51 on Friday. The company has a fifty day simple moving average of $0.51 and a two-hundred day simple moving average of $0.89. The stock has a market cap of $126.10 million, a P/E ratio of -0.68 and a beta of 1.02. The company has a current ratio of 7.45, a quick ratio of 7.43 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.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its earnings results on Thursday, March 6th. The biopharmaceutical company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. The business 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, analysts forecast that Lexicon Pharmaceuticals will post -0.66 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its stake in shares of Lexicon Pharmaceuticals by 71.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 31,853 shares of the biopharmaceutical company’s stock valued at $50,000 after buying an additional 13,246 shares during the last quarter. Bayesian Capital Management LP bought a new position in Lexicon Pharmaceuticals during the 4th quarter worth $31,000. RPO LLC acquired a new stake in shares of Lexicon Pharmaceuticals in the 4th quarter worth about $33,000. Renaissance Technologies LLC bought a new stake in shares of Lexicon Pharmaceuticals during the fourth quarter valued at approximately $38,000. Finally, Arizona State Retirement System raised its stake in Lexicon Pharmaceuticals by 34.4% during the 4th quarter. Arizona State Retirement System now owns 62,976 shares of the biopharmaceutical company’s stock valued at $47,000 after acquiring an additional 16,136 shares in 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.