SVB Leerink Initiates Coverage on Lexicon Pharmaceuticals (NASDAQ:LXRX)

Stock analysts at SVB Leerink started coverage on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a report released on Tuesday, Marketbeat reports. The brokerage set an “outperform” rating and a $5.00 price target on the biopharmaceutical company’s stock. SVB Leerink’s target price points to a potential upside of 203.03% from the company’s previous close.

LXRX has been the subject of a number of other research reports. Needham & Company LLC restated a “hold” rating on shares of Lexicon Pharmaceuticals in a report on Tuesday, April 23rd. StockNews.com upgraded Lexicon Pharmaceuticals to a “sell” rating in a report on Monday, April 15th.

Lexicon Pharmaceuticals Trading Up 7.1 %

Shares of NASDAQ:LXRX opened at $1.65 on Tuesday. Lexicon Pharmaceuticals has a 12-month low of $0.92 and a 12-month high of $3.79. The stock has a market cap of $406.30 million, a PE ratio of -2.06 and a beta of 1.27. The business has a 50 day moving average of $2.13 and a 200-day moving average of $1.74. The company has a quick ratio of 5.58, a current ratio of 5.60 and a debt-to-equity ratio of 1.07.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its quarterly earnings data on Monday, March 11th. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.03. Lexicon Pharmaceuticals had a negative return on equity of 138.54% and a negative net margin of 14,573.20%. The company had revenue of $0.70 million during the quarter, compared to analysts’ expectations of $0.68 million. As a group, equities research analysts forecast that Lexicon Pharmaceuticals will post -0.71 earnings per share for the current year.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Several institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets boosted its stake in shares of Lexicon Pharmaceuticals by 82.6% in the first quarter. BNP Paribas Financial Markets now owns 59,378 shares of the biopharmaceutical company’s stock valued at $143,000 after buying an additional 26,859 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in shares of Lexicon Pharmaceuticals by 65.7% in the first quarter. China Universal Asset Management Co. Ltd. now owns 46,930 shares of the biopharmaceutical company’s stock valued at $113,000 after buying an additional 18,601 shares during the period. Pinnacle Associates Ltd. boosted its stake in shares of Lexicon Pharmaceuticals by 1.0% in the first quarter. Pinnacle Associates Ltd. now owns 1,747,830 shares of the biopharmaceutical company’s stock valued at $4,195,000 after buying an additional 17,009 shares during the period. BVF Inc. IL lifted its stake in Lexicon Pharmaceuticals by 22.2% during the fourth quarter. BVF Inc. IL now owns 24,435,632 shares of the biopharmaceutical company’s stock worth $37,387,000 after purchasing an additional 4,440,300 shares during the last quarter. Finally, Cantor Fitzgerald L. P. bought a new stake in Lexicon Pharmaceuticals during the fourth quarter worth $25,000. 74.70% of the stock is currently owned by institutional investors.

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.