Lexicon Pharmaceuticals' (LXRX) Buy Rating Reiterated at HC Wainwright

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at HC Wainwright in a note issued to investors on Tuesday,Benzinga reports. They currently have a $4.00 price objective on the biopharmaceutical company's stock. HC Wainwright's price objective would indicate a potential upside of 444.88% from the company's previous close.

Several other equities research analysts have also weighed in on the company. 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. Needham & Company LLC reiterated a "hold" rating on shares of Lexicon Pharmaceuticals in a report on Monday, March 3rd. Piper Sandler cut their price target on Lexicon Pharmaceuticals from $10.00 to $6.00 and set an "overweight" rating for the company in a report on Friday, March 7th. Wall Street Zen started coverage on Lexicon Pharmaceuticals in a report on Monday, April 21st. They set a "sell" rating for the company. Finally, Leerink Partnrs lowered Lexicon Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $3.67.

Lexicon Pharmaceuticals Stock Down 2.1%

LXRX opened at $0.73 on Tuesday. The business has a 50 day moving average price of $0.66 and a 200 day moving average price of $0.65. Lexicon Pharmaceuticals has a twelve month low of $0.28 and a twelve month high of $2.45. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.22 and a current ratio of 2.22. The firm has a market cap of $265.37 million, a P/E ratio of -1.44 and a beta of 1.00.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Acadian Asset Management LLC acquired a new position in shares of Lexicon Pharmaceuticals in the first quarter valued at $263,000. AQR Capital Management LLC bought a new stake in Lexicon Pharmaceuticals in the first quarter valued at $541,000. Ieq Capital LLC bought a new stake in Lexicon Pharmaceuticals in the first quarter valued at $82,000. Invesco Ltd. grew its position in Lexicon Pharmaceuticals by 173.5% in the first quarter. Invesco Ltd. now owns 285,759 shares of the biopharmaceutical company's stock valued at $132,000 after acquiring an additional 181,265 shares during the period. Finally, Monaco Asset Management SAM bought a new stake in Lexicon Pharmaceuticals in the first quarter valued at $338,000. 74.70% of the stock is currently owned by institutional investors and hedge funds.

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.

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