Lexicon Pharmaceuticals (NASDAQ:LXRX) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Lexicon Pharmaceuticals (NASDAQ:LXRXGet Rating) from a sell rating to a hold rating in a research note released on Monday morning.

Separately, Piper Sandler assumed coverage on shares of Lexicon Pharmaceuticals in a report on Friday, August 12th. They issued an overweight rating and a $10.00 price objective for the company.

Lexicon Pharmaceuticals Stock Performance

LXRX stock opened at $2.19 on Monday. The company has a market capitalization of $413.31 million, a P/E ratio of -3.53 and a beta of 1.36. The company has a 50-day simple moving average of $2.27 and a 200 day simple moving average of $2.32. Lexicon Pharmaceuticals has a fifty-two week low of $1.31 and a fifty-two week high of $5.22. The company has a quick ratio of 7.54, a current ratio of 7.54 and a debt-to-equity ratio of 0.17.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Asset Management L.P. acquired a new stake in Lexicon Pharmaceuticals during the 3rd quarter worth about $8,672,000. BVF Inc. IL increased its holdings in shares of Lexicon Pharmaceuticals by 14.1% in the 3rd quarter. BVF Inc. IL now owns 16,149,179 shares of the biopharmaceutical company’s stock valued at $38,758,000 after purchasing an additional 2,000,000 shares during the period. Vanguard Group Inc. grew its stake in shares of Lexicon Pharmaceuticals by 34.0% in the 3rd quarter. Vanguard Group Inc. now owns 5,256,288 shares of the biopharmaceutical company’s stock valued at $12,614,000 after buying an additional 1,334,318 shares in the last quarter. BlackRock Inc. grew its stake in shares of Lexicon Pharmaceuticals by 27.4% in the 3rd quarter. BlackRock Inc. now owns 5,760,000 shares of the biopharmaceutical company’s stock valued at $13,823,000 after buying an additional 1,240,171 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Lexicon Pharmaceuticals in the 3rd quarter valued at approximately $1,155,000.

About Lexicon Pharmaceuticals

(Get Rating)

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.

Further Reading

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