Lexicon Pharmaceuticals (NASDAQ:LXRX) Receives “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a research note released on Tuesday, Benzinga reports. HC Wainwright currently has a $6.00 target price on the biopharmaceutical company’s stock.

LXRX has been the subject of several other research reports. Leerink Partners set a $6.00 target price on shares of Lexicon Pharmaceuticals and gave the stock an “outperform” rating in a research note on Friday, October 18th. StockNews.com raised Lexicon Pharmaceuticals to a “sell” rating in a research report on Tuesday, July 9th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Lexicon Pharmaceuticals in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.00.

Lexicon Pharmaceuticals Stock Performance

Shares of LXRX opened at $1.19 on Tuesday. The company’s 50 day simple moving average is $1.69 and its 200-day simple moving average is $1.76. Lexicon Pharmaceuticals has a 12-month low of $0.92 and a 12-month high of $3.73. The firm has a market cap of $293.03 million, a PE ratio of -1.53 and a beta of 1.24. The company has a current ratio of 11.51, a quick ratio of 11.49 and a debt-to-equity ratio of 0.41.

Institutional Trading of Lexicon Pharmaceuticals

Institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets boosted its position in shares of Lexicon Pharmaceuticals by 82.6% during the 1st quarter. BNP Paribas Financial Markets now owns 59,378 shares of the biopharmaceutical company’s stock worth $143,000 after purchasing an additional 26,859 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Lexicon Pharmaceuticals by 7.0% during the 1st quarter. Vanguard Group Inc. now owns 6,401,225 shares of the biopharmaceutical company’s stock worth $15,363,000 after buying an additional 420,854 shares during the last quarter. Nantahala Capital Management LLC purchased a new position in shares of Lexicon Pharmaceuticals during the 2nd quarter worth approximately $3,871,000. Point72 Asset Management L.P. lifted its stake 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 valued at $6,924,000 after buying an additional 3,536,805 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Lexicon Pharmaceuticals during the first quarter worth $105,000. 74.70% of the stock is currently owned by hedge funds and other institutional investors.

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.