Lexicon Pharmaceuticals’ (LXRX) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a research report sent to investors on Wednesday,Benzinga reports.

LXRX has been the topic of several other research reports. 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. HC Wainwright restated a “buy” rating and issued a $6.00 target price on shares of Lexicon Pharmaceuticals in a report on Wednesday. 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 stock. According to data from MarketBeat, Lexicon Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $6.00.

Lexicon Pharmaceuticals Stock Performance

LXRX stock traded down $0.08 on Wednesday, hitting $0.98. The company had a trading volume of 5,418,269 shares, compared to its average volume of 3,481,984. Lexicon Pharmaceuticals has a 12-month low of $0.97 and a 12-month high of $3.73. The company has a current ratio of 11.51, a quick ratio of 11.49 and a debt-to-equity ratio of 0.41. The stock’s 50-day simple moving average is $1.61 and its 200 day simple moving average is $1.73. The stock has a market cap of $240.13 million, a price-to-earnings ratio of -1.30 and a beta of 1.24.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in shares of Lexicon Pharmaceuticals by 8.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,523,971 shares of the biopharmaceutical company’s stock worth $5,534,000 after acquiring an additional 273,436 shares during the last quarter. Barclays PLC lifted its stake in shares of Lexicon Pharmaceuticals by 391.6% during the 3rd quarter. Barclays PLC now owns 193,873 shares of the biopharmaceutical company’s stock valued at $304,000 after buying an additional 154,436 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Lexicon Pharmaceuticals during the 3rd quarter valued at $126,000. State Street Corp lifted its stake in shares of Lexicon Pharmaceuticals by 6.8% during the 3rd quarter. State Street Corp now owns 2,471,215 shares of the biopharmaceutical company’s stock valued at $3,880,000 after buying an additional 157,738 shares in the last quarter. Finally, Atom Investors LP purchased a new position in shares of Lexicon Pharmaceuticals during the 3rd quarter valued at $122,000. Hedge funds and other 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.