Lexicon Pharmaceuticals (NASDAQ:LXRX) Earns Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a report published on Tuesday, Benzinga reports. The brokerage currently has a $10.00 price objective on the biopharmaceutical company’s stock.

Separately, StockNews.com upgraded shares of Lexicon Pharmaceuticals to a sell rating in a report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $7.50.

Lexicon Pharmaceuticals Price Performance

Shares of LXRX stock opened at $1.62 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 11.49 and a current ratio of 11.51. Lexicon Pharmaceuticals has a fifty-two week low of $0.92 and a fifty-two week high of $3.73. The firm has a market cap of $398.90 million, a P/E ratio of -1.95 and a beta of 1.35. The business’s 50 day moving average price is $1.83 and its 200-day moving average price is $1.94.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.01. Lexicon Pharmaceuticals had a negative net margin of 5,509.34% and a negative return on equity of 105.38%. The business had revenue of $1.65 million for the quarter, compared to analysts’ expectations of $2.74 million. During the same quarter in the previous year, the business posted ($0.22) earnings per share. On average, equities research analysts anticipate that Lexicon Pharmaceuticals will post -0.69 earnings per share for the current year.

Institutional Trading of Lexicon Pharmaceuticals

A number of hedge funds have recently modified their holdings of LXRX. Cantor Fitzgerald L. P. purchased a new position in Lexicon Pharmaceuticals during the 4th quarter valued at about $25,000. Principal Securities Inc. bought a new position in shares of Lexicon Pharmaceuticals during the fourth quarter valued at approximately $33,000. CVI Holdings LLC purchased a new position in shares of Lexicon Pharmaceuticals during the second quarter valued at approximately $34,000. Principal Financial Group Inc. boosted its position in shares of Lexicon Pharmaceuticals by 116.1% in the 2nd quarter. Principal Financial Group Inc. now owns 22,759 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 12,225 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Lexicon Pharmaceuticals by 22.0% in the 4th quarter. Victory Capital Management Inc. now owns 32,187 shares of the biopharmaceutical company’s stock worth $49,000 after buying an additional 5,813 shares during the last quarter. 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.