Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) Given Average Rating of “Hold” by Brokerages

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) has been given an average rating of “Hold” by the five brokerages that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $3.67.

A number of research analysts have weighed in on the stock. Piper Sandler cut their target price on shares of Lexicon Pharmaceuticals from $10.00 to $6.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Needham & Company LLC reissued a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Monday, March 3rd. Leerink Partnrs lowered Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. StockNews.com initiated coverage on Lexicon Pharmaceuticals in a report on Monday, April 21st. They set a “sell” rating for the company. Finally, Leerink Partners restated a “market perform” rating and issued a $1.00 price objective (down previously from $2.00) on shares of Lexicon Pharmaceuticals in a research note on Tuesday, March 4th.

Institutional Trading of Lexicon Pharmaceuticals

Several institutional investors have recently modified their holdings of LXRX. State Street Corp lifted its stake in Lexicon Pharmaceuticals by 6.8% during the third quarter. State Street Corp now owns 2,471,215 shares of the biopharmaceutical company’s stock worth $3,880,000 after purchasing an additional 157,738 shares during the period. Barclays PLC raised its holdings in shares of Lexicon Pharmaceuticals by 391.6% in the 3rd quarter. Barclays PLC now owns 193,873 shares of the biopharmaceutical company’s stock worth $304,000 after buying an additional 154,436 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Lexicon Pharmaceuticals by 8.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,523,971 shares of the biopharmaceutical company’s stock worth $5,534,000 after buying an additional 273,436 shares during the period. Hennion & Walsh Asset Management Inc. boosted its stake in Lexicon Pharmaceuticals by 18.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 863,255 shares of the biopharmaceutical company’s stock valued at $638,000 after buying an additional 132,117 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in 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 buying an additional 16,136 shares in the last quarter. Institutional investors and hedge funds own 74.70% of the company’s stock.

Lexicon Pharmaceuticals Stock Performance

LXRX opened at $0.73 on Friday. 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 company has a market cap of $179.95 million, a PE ratio of -0.97 and a beta of 1.02. The stock has a 50-day moving average of $0.49 and a 200-day moving average of $0.82. Lexicon Pharmaceuticals has a 52-week low of $0.28 and a 52-week high of $2.45.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last announced its earnings results on Thursday, March 6th. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $26.55 million during the quarter, compared to analysts’ expectations of $6.48 million. As a group, equities research analysts forecast that Lexicon Pharmaceuticals will post -0.66 earnings per share for the current fiscal year.

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.