Lexicon Pharmaceuticals’ (LXRX) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a report issued on Wednesday,Benzinga reports.

LXRX has been the topic of a number of other reports. HC Wainwright restated a “buy” rating and issued a $4.00 price objective on shares of Lexicon Pharmaceuticals in a report on Wednesday. Leerink Partners set a $6.00 price target on shares of Lexicon Pharmaceuticals and gave the company an “outperform” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $5.00.

Lexicon Pharmaceuticals Price Performance

LXRX opened at $0.76 on Wednesday. Lexicon Pharmaceuticals has a 1 year low of $0.62 and a 1 year high of $3.73. The company’s 50 day simple moving average is $0.79 and its 200 day simple moving average is $1.37. The stock has a market capitalization of $186.20 million, a PE ratio of -1.01 and a beta of 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.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last announced its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.01). The company had revenue of $1.75 million for the quarter, compared to analysts’ expectations of $3.14 million. Lexicon Pharmaceuticals had a negative net margin of 4,109.41% and a negative return on equity of 107.38%. During the same period in the prior year, the firm earned ($0.21) earnings per share. As a group, sell-side analysts expect that Lexicon Pharmaceuticals will post -0.66 EPS for the current year.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake in shares of Lexicon Pharmaceuticals by 52.3% during the second quarter. Dimensional Fund Advisors LP now owns 76,086 shares of the biopharmaceutical company’s stock valued at $128,000 after purchasing an additional 26,143 shares during the period. Marshall Wace LLP grew its holdings in Lexicon Pharmaceuticals by 138.5% during the 2nd quarter. Marshall Wace LLP now owns 1,190,448 shares of the biopharmaceutical company’s stock valued at $2,000,000 after purchasing an additional 691,276 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Lexicon Pharmaceuticals by 40.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,957 shares of the biopharmaceutical company’s stock worth $84,000 after buying an additional 14,411 shares during the period. Point72 Asset Management L.P. lifted its holdings in Lexicon Pharmaceuticals by 605.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 4,121,191 shares of the biopharmaceutical company’s stock worth $6,924,000 after buying an additional 3,536,805 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in Lexicon Pharmaceuticals by 107.6% in the 3rd quarter. SG Americas Securities LLC now owns 46,090 shares of the biopharmaceutical company’s stock valued at $72,000 after buying an additional 23,893 shares during the last quarter. 74.70% of the stock is owned by institutional investors and hedge funds.

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.