Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) Receives Average Recommendation of "Hold" from Analysts

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX - Get Free Report) has been assigned an average recommendation of "Hold" from the five brokerages that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $3.67.

Several analysts have recently issued reports on LXRX shares. Leerink Partners reiterated a "market perform" rating and set a $1.00 price target (down previously from $2.00) on shares of Lexicon Pharmaceuticals in a research note on Tuesday, March 4th. Leerink Partnrs downgraded Lexicon Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. HC Wainwright reiterated a "buy" rating and set a $4.00 price target on shares of Lexicon Pharmaceuticals in a research note on Friday, March 28th. Piper Sandler decreased their price target on Lexicon Pharmaceuticals from $10.00 to $6.00 and set an "overweight" rating for the company in a research note on Friday, March 7th. Finally, Wall Street Zen started coverage on Lexicon Pharmaceuticals in a research note on Monday, April 21st. They set a "sell" rating for the company.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Several large investors have recently made changes to their positions in the business. Point72 Asset Management L.P. raised its holdings in Lexicon Pharmaceuticals by 630.7% in the 4th quarter. Point72 Asset Management L.P. now owns 8,988,421 shares of the biopharmaceutical company's stock valued at $6,638,000 after acquiring an additional 7,758,371 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its stake in shares of Lexicon Pharmaceuticals by 301.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 7,558,621 shares of the biopharmaceutical company's stock valued at $5,582,000 after purchasing an additional 5,676,021 shares during the period. Nantahala Capital Management LLC grew its stake in shares of Lexicon Pharmaceuticals by 186.6% in the 4th quarter. Nantahala Capital Management LLC now owns 6,604,150 shares of the biopharmaceutical company's stock valued at $4,877,000 after purchasing an additional 4,300,000 shares during the period. Northern Trust Corp grew its stake in shares of Lexicon Pharmaceuticals by 14.4% in the 4th quarter. Northern Trust Corp now owns 1,308,651 shares of the biopharmaceutical company's stock valued at $966,000 after purchasing an additional 164,620 shares during the period. Finally, AQR Capital Management LLC bought a new stake in shares of Lexicon Pharmaceuticals in the 1st quarter valued at approximately $541,000. Institutional investors and hedge funds own 74.70% of the company's stock.

Lexicon Pharmaceuticals Stock Down 3.5%

Shares of LXRX traded down $0.02 during trading hours on Friday, hitting $0.67. 2,835,966 shares of the company were exchanged, compared to its average volume of 6,697,638. The company has a market cap of $242.74 million, a PE ratio of -0.90 and a beta of 1.00. The firm's 50 day moving average is $0.63 and its 200-day moving average is $0.65. Lexicon Pharmaceuticals has a 52 week low of $0.28 and a 52 week high of $2.45. The company has a debt-to-equity ratio of 0.56, a quick ratio of 7.43 and a current ratio of 7.45.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.03. The company had revenue of $1.26 million during the quarter, compared to the consensus estimate of $1.26 million. Lexicon Pharmaceuticals had a negative return on equity of 107.38% and a negative net margin of 4,109.41%. On average, equities research analysts forecast that Lexicon Pharmaceuticals will post -0.66 EPS for the current fiscal year.

About Lexicon Pharmaceuticals

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.