Lexicon Pharmaceuticals (NASDAQ:LXRX) Coverage Initiated by Analysts at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a research note issued to investors on Thursday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Several other research firms also recently weighed in on LXRX. Leerink Partnrs downgraded Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Piper Sandler cut their price objective on Lexicon Pharmaceuticals from $10.00 to $6.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Leerink Partners reissued a “market perform” rating and set a $1.00 price objective (down previously from $2.00) on shares of Lexicon Pharmaceuticals in a report on Tuesday, March 4th. Needham & Company LLC reissued a “hold” rating on shares of Lexicon Pharmaceuticals in a report on Monday, March 3rd. Finally, HC Wainwright reissued a “buy” rating and set a $4.00 price objective on shares of Lexicon Pharmaceuticals in a report on Monday, March 3rd. 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 MarketBeat, Lexicon Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $3.67.

Lexicon Pharmaceuticals Trading Down 0.6 %

Shares of LXRX opened at $0.36 on Thursday. Lexicon Pharmaceuticals has a 52-week low of $0.28 and a 52-week high of $2.59. The business’s fifty day moving average is $0.66 and its 200-day moving average is $1.06. The company has a debt-to-equity ratio of 0.56, a quick ratio of 7.43 and a current ratio of 7.45. The firm has a market cap of $88.03 million, a price-to-earnings ratio of -0.48 and a beta of 1.04.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its quarterly earnings results on Thursday, March 6th. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.02. Lexicon Pharmaceuticals had a negative return on equity of 107.38% and a negative net margin of 4,109.41%. The company had revenue of $26.55 million for the quarter, compared to analyst estimates of $6.48 million. Equities analysts anticipate that Lexicon Pharmaceuticals will post -0.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets lifted its stake in shares of Lexicon Pharmaceuticals by 71.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 31,853 shares of the biopharmaceutical company’s stock valued at $50,000 after purchasing an additional 13,246 shares during the period. Bayesian Capital Management LP acquired a new position in shares of Lexicon Pharmaceuticals in the 4th quarter valued at about $31,000. RPO LLC acquired a new position in shares of Lexicon Pharmaceuticals in the 4th quarter valued at about $33,000. Renaissance Technologies LLC acquired a new position in shares of Lexicon Pharmaceuticals in the 4th quarter valued at about $38,000. Finally, Arizona State Retirement System lifted its stake in shares of Lexicon Pharmaceuticals by 34.4% in the 4th quarter. Arizona State Retirement System now owns 62,976 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 16,136 shares during the period. 74.70% of the stock is 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.