Lexicon Pharmaceuticals (NASDAQ:LXRX) Receives “Buy” Rating from HC Wainwright

Lexicon Pharmaceuticals (NASDAQ:LXRX)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research note issued on Wednesday,Benzinga reports. They presently have a $6.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s target price suggests a potential upside of 404.20% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Leerink Partners set a $6.00 target price on shares of Lexicon Pharmaceuticals and gave the stock an “outperform” rating in a report on Friday, October 18th. Needham & Company LLC reiterated a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.00.

Lexicon Pharmaceuticals Stock Down 6.3 %

Shares of LXRX opened at $1.19 on Wednesday. Lexicon Pharmaceuticals has a 12 month low of $0.94 and a 12 month high of $3.73. The firm’s 50 day moving average is $1.66 and its 200-day moving average is $1.75. The stock has a market capitalization of $293.03 million, a PE ratio of -1.53 and a beta of 1.24. The company has a current ratio of 11.51, a quick ratio of 11.49 and a debt-to-equity ratio of 0.41.

Institutional Trading of Lexicon Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in LXRX. BNP Paribas Financial Markets raised its stake in shares of Lexicon Pharmaceuticals by 82.6% during the first quarter. BNP Paribas Financial Markets now owns 59,378 shares of the biopharmaceutical company’s stock valued at $143,000 after acquiring an additional 26,859 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Lexicon Pharmaceuticals by 7.0% during the first quarter. Vanguard Group Inc. now owns 6,401,225 shares of the biopharmaceutical company’s stock valued at $15,363,000 after acquiring an additional 420,854 shares during the last quarter. Boulder Hill Capital Management LP bought a new position in shares of Lexicon Pharmaceuticals during the first quarter valued at $615,000. Virtu Financial LLC bought a new position in shares of Lexicon Pharmaceuticals during the first quarter valued at $105,000. Finally, Hennion & Walsh Asset Management Inc. bought a new position in shares of Lexicon Pharmaceuticals during the second quarter valued at $912,000. Institutional investors and hedge funds own 74.70% of the company’s stock.

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.