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

Key Points

• Lexicon Pharmaceuticals has received a "buy" rating from HC Wainwright with a price target of $4.00, indicating a potential upside of 258.74%.
• Citigroup recently raised its target price for Lexicon's shares from $1.20 to $1.90 while maintaining a "buy" rating, contributing to a consensus rating of "Moderate Buy."
• In its latest earnings report, Lexicon Pharmaceuticals surpassed analysts' expectations by posting $0.01 EPS and $28.87 million in revenue for the quarter, compared to estimated revenues of $4.87 million.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They currently have a $4.00 price objective on the biopharmaceutical company's stock. HC Wainwright's price objective points to a potential upside of 258.74% from the company's previous close.

Separately, Citigroup lifted their target price on shares of Lexicon Pharmaceuticals from $1.20 to $1.90 and gave the company a "buy" rating in a research report on Thursday, August 7th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Lexicon Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $3.23.

Lexicon Pharmaceuticals Stock Performance

Shares of Lexicon Pharmaceuticals stock traded up $0.02 during trading on Tuesday, hitting $1.12. 2,741,705 shares of the company's stock were exchanged, compared to its average volume of 8,299,256. The stock has a market capitalization of $405.19 million, a price-to-earnings ratio of -3.38 and a beta of 1.26. The business has a 50-day simple moving average of $1.08 and a 200-day simple moving average of $0.75. Lexicon Pharmaceuticals has a 52-week low of $0.28 and a 52-week high of $2.18. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.16 and a current ratio of 4.16.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.08) by $0.09. The business had revenue of $28.87 million for the quarter, compared to analysts' expectations of $4.87 million. Lexicon Pharmaceuticals had a negative net margin of 206.43% and a negative return on equity of 83.63%. On average, research analysts forecast that Lexicon Pharmaceuticals will post -0.66 EPS for the current year.

Institutional Trading of Lexicon Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. Point72 Asset Management L.P. increased its position in shares of Lexicon Pharmaceuticals by 630.7% during the fourth 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 during the last quarter. Northern Trust Corp boosted its position in shares of Lexicon Pharmaceuticals by 14.4% during the 4th quarter. Northern Trust Corp now owns 1,308,651 shares of the biopharmaceutical company's stock worth $966,000 after purchasing an additional 164,620 shares during the period. AQR Capital Management LLC acquired a new stake in Lexicon Pharmaceuticals in the 1st quarter valued at approximately $541,000. Tang Capital Management LLC increased its holdings in Lexicon Pharmaceuticals by 750.3% in the 4th quarter. Tang Capital Management LLC now owns 850,268 shares of the biopharmaceutical company's stock valued at $628,000 after purchasing an additional 750,268 shares during the last quarter. Finally, Monaco Asset Management SAM purchased a new stake in Lexicon Pharmaceuticals in the first quarter valued at approximately $338,000. Hedge funds and other 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.

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