Lexicon Pharmaceuticals’ (LXRX) Buy Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a research note released on Tuesday,Benzinga reports. HC Wainwright currently has a $6.00 price objective on the biopharmaceutical company’s stock.

LXRX has been the subject of a number of other research reports. StockNews.com raised Lexicon Pharmaceuticals to a “sell” rating in a report on Tuesday, July 9th. Needham & Company LLC reissued a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Wednesday, October 30th. Finally, 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. One 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. Based on data from MarketBeat, Lexicon Pharmaceuticals has an average rating of “Hold” and an average price target of $6.00.

Lexicon Pharmaceuticals Stock Up 7.4 %

Shares of LXRX opened at $1.30 on Tuesday. The firm has a 50 day simple moving average of $1.68 and a two-hundred day simple moving average of $1.75. The company has a debt-to-equity ratio of 0.41, a current ratio of 11.51 and a quick ratio of 11.49. Lexicon Pharmaceuticals has a one year low of $0.92 and a one year high of $3.73. The company has a market cap of $320.11 million, a P/E ratio of -1.66 and a beta of 1.24.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets boosted 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 purchasing an additional 26,859 shares in the last quarter. Vanguard Group Inc. raised its holdings in Lexicon Pharmaceuticals by 7.0% in the 1st quarter. Vanguard Group Inc. now owns 6,401,225 shares of the biopharmaceutical company’s stock valued at $15,363,000 after buying an additional 420,854 shares during the last quarter. Nantahala Capital Management LLC acquired a new stake in Lexicon Pharmaceuticals during the 2nd quarter worth approximately $3,871,000. Point72 Asset Management L.P. grew its holdings in Lexicon Pharmaceuticals by 605.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 4,121,191 shares of the biopharmaceutical company’s stock worth $6,924,000 after acquiring an additional 3,536,805 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in Lexicon Pharmaceuticals in the 1st quarter valued at approximately $105,000. Institutional investors 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.