Lexicon Pharmaceuticals (NASDAQ:LXRX) Coverage Initiated by Analysts at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald initiated coverage of Lexicon Pharmaceuticals with an “overweight” rating and an $8.00 price target, implying potential upside of 345.68% from the prior close.
• Analyst sentiment is mixed: the stock has an overall “Hold” consensus rating and an average target price of $5.70, while recent firms issued ratings ranging from Buy to Sell.
• Lexicon reported weaker-than-expected quarterly results, with an EPS loss of $0.06 versus a $0.05 estimate and revenue of $0.69 million compared with expectations of $3.99 million; institutional investors own 74.70% of the stock.

Equities researchers at Cantor Fitzgerald initiated coverage on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) in a research report issued on Monday, Benzinga reports. The firm set an "overweight" rating and a $8.00 price target on the biopharmaceutical company's stock. Cantor Fitzgerald's price objective would indicate a potential upside of 345.68% from the company's previous close.

Several other research analysts have also recently weighed in on the company. Weiss Ratings raised Lexicon Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, July 23rd. Zacks Research cut shares of Lexicon Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 3rd. Finally, Wall Street Zen downgraded shares of Lexicon Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $5.70.

Lexicon Pharmaceuticals Price Performance

Shares of NASDAQ LXRX opened at $1.79 on Monday. The company has a current ratio of 13.37, a quick ratio of 13.29 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $798.70 million, a PE ratio of -11.97 and a beta of 1.02. The firm's 50-day moving average is $2.24 and its 200-day moving average is $2.05. Lexicon Pharmaceuticals has a 1 year low of $1.10 and a 1 year high of $2.68.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.01). Lexicon Pharmaceuticals had a negative net margin of 147.38% and a negative return on equity of 37.53%. The company had revenue of $0.69 million during the quarter, compared to analyst estimates of $3.99 million. Equities analysts expect that Lexicon Pharmaceuticals will post -0.17 EPS for the current year.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in shares of Lexicon Pharmaceuticals by 43.6% in the 1st quarter. Bank of New York Mellon Corp now owns 27,459 shares of the biopharmaceutical company's stock worth $43,000 after purchasing an additional 8,335 shares during the period. Squarepoint Ops LLC acquired a new stake in Lexicon Pharmaceuticals during the 2nd quarter worth about $28,000. CTC Alternative Strategies Ltd. bought a new position in shares of Lexicon Pharmaceuticals in the 1st quarter worth about $27,000. WINTON GROUP Ltd lifted its stake in shares of Lexicon Pharmaceuticals by 69.4% in the 2nd quarter. WINTON GROUP Ltd now owns 43,200 shares of the biopharmaceutical company's stock valued at $104,000 after purchasing an additional 17,700 shares during the period. Finally, R Squared Ltd lifted its stake in shares of Lexicon Pharmaceuticals by 45.0% in the 1st quarter. R Squared Ltd now owns 67,526 shares of the biopharmaceutical company's stock valued at $105,000 after purchasing an additional 20,947 shares during the period. Institutional investors own 74.70% of the company's stock.

Lexicon Pharmaceuticals Company Profile

Lexicon Pharmaceuticals, Inc is a biopharmaceutical company that discovers and develops medicines for human disease. Founded in 1995 and headquartered in The Woodlands, Texas, the company uses its drug-discovery platform and expertise in biology to identify potential treatments for conditions with significant unmet medical needs.

Lexicon's marketed products include XERMELO (telotristat ethyl), an oral medicine used to treat carcinoid syndrome diarrhea in adults whose symptoms are not adequately controlled by somatostatin analog therapy.

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