HC Wainwright Reaffirms Buy Rating for Lexicon Pharmaceuticals (NASDAQ:LXRX)

Lexicon Pharmaceuticals (NASDAQ:LXRX)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a report issued on Wednesday,Benzinga reports. They presently have a $4.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price objective suggests a potential upside of 388.16% from the company’s current price.

Several other research analysts have also commented on LXRX. Leerink Partners set a $6.00 price objective on Lexicon Pharmaceuticals and gave the company an “outperform” rating in a research report on Friday, October 18th. Needham & Company LLC reissued a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $5.00.

Lexicon Pharmaceuticals Stock Performance

NASDAQ LXRX opened at $0.82 on Wednesday. The company has a market capitalization of $201.77 million, a PE ratio of -1.09 and a beta of 1.06. Lexicon Pharmaceuticals has a twelve month low of $0.62 and a twelve month high of $3.73. The company has a current ratio of 7.45, a quick ratio of 7.43 and a debt-to-equity ratio of 0.56. The business’s 50-day moving average price is $0.79 and its 200 day moving average price is $1.38.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.01). The business had revenue of $1.75 million for the quarter, compared to analyst estimates of $3.14 million. Lexicon Pharmaceuticals had a negative return on equity of 107.38% and a negative net margin of 4,109.41%. During the same period last year, the company posted ($0.21) EPS. On average, research analysts predict that Lexicon Pharmaceuticals will post -0.66 earnings per share for the current year.

Institutional Trading of Lexicon Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets increased its holdings in Lexicon Pharmaceuticals by 71.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 31,853 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 13,246 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Lexicon Pharmaceuticals by 107.6% during the third quarter. SG Americas Securities LLC now owns 46,090 shares of the biopharmaceutical company’s stock worth $72,000 after buying an additional 23,893 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Lexicon Pharmaceuticals by 40.5% in the second quarter. The Manufacturers Life Insurance Company now owns 49,957 shares of the biopharmaceutical company’s stock worth $84,000 after buying an additional 14,411 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Lexicon Pharmaceuticals by 63.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 69,527 shares of the biopharmaceutical company’s stock valued at $109,000 after acquiring an additional 27,058 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in Lexicon Pharmaceuticals during the 3rd quarter valued at $115,000. 74.70% of the stock is owned by hedge funds and other 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.