Lexicon Pharmaceuticals (NASDAQ:LXRX) Downgraded to “Hold” Rating by Leerink Partnrs

Leerink Partnrs lowered shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) from a strong-buy rating to a hold rating in a research note released on Wednesday,Zacks.com reports.

A number of other equities research analysts have also weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Monday. Leerink Partners reiterated a “market perform” rating and issued a $1.00 price objective (down from $2.00) on shares of Lexicon Pharmaceuticals in a research report on Tuesday. Finally, HC Wainwright reiterated a “buy” rating and issued a $4.00 price objective on shares of Lexicon Pharmaceuticals in a research report on Monday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $2.50.

Lexicon Pharmaceuticals Price Performance

Shares of LXRX stock opened at $0.34 on Wednesday. The firm has a market cap of $82.74 million, a P/E ratio of -0.45 and a beta of 1.04. Lexicon Pharmaceuticals has a fifty-two week low of $0.28 and a fifty-two week high of $2.83. The business’s 50 day moving average price is $0.74 and its 200-day moving average price is $1.16. The company has a debt-to-equity ratio of 0.56, a quick ratio of 7.43 and a current ratio of 7.45.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its stake in Lexicon Pharmaceuticals by 71.2% during the third quarter. BNP Paribas Financial Markets now owns 31,853 shares of the biopharmaceutical company’s stock valued at $50,000 after buying an additional 13,246 shares during the last quarter. Bayesian Capital Management LP purchased a new position in shares of Lexicon Pharmaceuticals in the fourth quarter worth $31,000. RPO LLC bought a new position in shares of Lexicon Pharmaceuticals during the fourth quarter valued at $33,000. Renaissance Technologies LLC bought a new position in shares of Lexicon Pharmaceuticals during the fourth quarter valued at $38,000. Finally, Arizona State Retirement System lifted its holdings in shares of Lexicon Pharmaceuticals by 34.4% during the fourth quarter. Arizona State Retirement System now owns 62,976 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 16,136 shares in the last quarter. 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.