Lexicon Pharmaceuticals (NASDAQ:LXRX) Given Buy Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a research report sent to investors on Tuesday morning,Benzinga reports. HC Wainwright currently has a $4.00 price target on the biopharmaceutical company’s stock.

LXRX has been the subject of several other reports. Leerink Partners restated a “market perform” rating and issued a $1.00 target price (down from $2.00) on shares of Lexicon Pharmaceuticals in a report on Tuesday, March 4th. Leerink Partnrs lowered shares of Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Needham & Company LLC restated a “hold” rating on shares of Lexicon Pharmaceuticals in a report on Monday, March 3rd. Wall Street Zen began coverage on Lexicon Pharmaceuticals in a report on Monday, April 21st. They issued a “sell” rating for the company. Finally, Piper Sandler decreased their price objective on shares of Lexicon Pharmaceuticals from $10.00 to $6.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Lexicon Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $3.67.

Lexicon Pharmaceuticals Stock Performance

Shares of NASDAQ LXRX opened at $0.77 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.22 and a quick ratio of 2.22. Lexicon Pharmaceuticals has a one year low of $0.28 and a one year high of $2.45. The business’s 50-day moving average price is $0.66 and its two-hundred day moving average price is $0.65. The company has a market capitalization of $278.46 million, a P/E ratio of -1.51 and a beta of 1.00.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.03. The firm had revenue of $1.26 million during the quarter, compared to analysts’ expectations of $1.26 million. Lexicon Pharmaceuticals had a negative net margin of 568.04% and a negative return on equity of 103.16%. Analysts anticipate that Lexicon Pharmaceuticals will post -0.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. Bayesian Capital Management LP bought a new position in shares of Lexicon Pharmaceuticals during the fourth quarter worth about $31,000. RPO LLC bought a new position in shares of Lexicon Pharmaceuticals during the 4th quarter worth approximately $33,000. Renaissance Technologies LLC acquired a new stake in shares of Lexicon Pharmaceuticals in the fourth quarter valued at approximately $38,000. Straight Path Wealth Management bought a new stake in shares of Lexicon Pharmaceuticals in the first quarter worth $29,000. Finally, Arizona State Retirement System boosted its holdings in Lexicon Pharmaceuticals by 34.4% during the fourth quarter. Arizona State Retirement System now owns 62,976 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 16,136 shares during the last quarter. 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.