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

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) has been given a consensus recommendation of “Hold” by the five research firms that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $3.67.

LXRX has been the topic of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $4.00 price target on shares of Lexicon Pharmaceuticals in a research report on Friday. Leerink Partnrs downgraded Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Leerink Partners reiterated a “market perform” rating and issued a $1.00 target price (down previously from $2.00) on shares of Lexicon Pharmaceuticals in a research report on Tuesday, March 4th. Needham & Company LLC reissued a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Monday, March 3rd. Finally, Piper Sandler decreased their price objective on shares of Lexicon Pharmaceuticals from $10.00 to $6.00 and set an “overweight” rating for the company in a report on Friday, March 7th.

Lexicon Pharmaceuticals Stock Down 19.2 %

Shares of NASDAQ LXRX opened at $0.46 on Tuesday. 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 has a 1 year low of $0.28 and a 1 year high of $2.45. The stock’s 50-day simple moving average is $0.60 and its 200-day simple moving average is $0.98. The firm has a market cap of $113.47 million, a price-to-earnings ratio of -0.61 and a beta of 1.04.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted 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. The firm had revenue of $26.55 million for the quarter, compared to analysts’ expectations of $6.48 million. Lexicon Pharmaceuticals had a negative net margin of 4,109.41% and a negative return on equity of 107.38%. As a group, equities analysts anticipate that Lexicon Pharmaceuticals will post -0.66 earnings per share for the current fiscal year.

Institutional Trading of Lexicon Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in LXRX. FMR LLC grew its stake in Lexicon Pharmaceuticals by 28.9% during the 3rd quarter. FMR LLC now owns 49,867,042 shares of the biopharmaceutical company’s stock worth $78,291,000 after buying an additional 11,179,919 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings 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 period. Schonfeld Strategic Advisors LLC grew its position in shares of Lexicon Pharmaceuticals by 301.5% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 7,558,621 shares of the biopharmaceutical company’s stock worth $5,582,000 after acquiring an additional 5,676,021 shares during the last quarter. Nantahala Capital Management LLC increased its holdings in shares of Lexicon Pharmaceuticals by 186.6% in the 4th quarter. Nantahala Capital Management LLC now owns 6,604,150 shares of the biopharmaceutical company’s stock worth $4,877,000 after acquiring an additional 4,300,000 shares during the period. Finally, Tang Capital Management LLC lifted its position 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. 74.70% of the stock is currently 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.