Lexicon Pharmaceuticals’ (LXRX) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a research note published on Wednesday morning,Benzinga reports. HC Wainwright currently has a $6.00 price objective on the biopharmaceutical company’s stock. HC Wainwright also issued estimates for Lexicon Pharmaceuticals’ Q4 2024 earnings at ($0.15) EPS, FY2024 earnings at ($0.76) EPS, FY2025 earnings at ($0.60) EPS and FY2026 earnings at ($0.47) EPS.

A number of other brokerages also recently issued reports on LXRX. Leerink Partners set a $6.00 price target on Lexicon Pharmaceuticals and gave the stock an “outperform” rating in a research report on Friday, October 18th. Needham & Company LLC restated a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $6.00.

Lexicon Pharmaceuticals Price Performance

LXRX traded down $0.08 during trading on Wednesday, reaching $0.98. 5,418,269 shares of the company traded hands, compared to its average volume of 3,481,984. The company has a debt-to-equity ratio of 0.41, a quick ratio of 11.49 and a current ratio of 11.51. The company has a market cap of $240.13 million, a P/E ratio of -1.30 and a beta of 1.24. Lexicon Pharmaceuticals has a 12-month low of $0.97 and a 12-month high of $3.73. The firm has a fifty day simple moving average of $1.61 and a 200 day simple moving average of $1.73.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets lifted its holdings in Lexicon Pharmaceuticals by 82.6% in the first quarter. BNP Paribas Financial Markets now owns 59,378 shares of the biopharmaceutical company’s stock valued at $143,000 after acquiring an additional 26,859 shares during the period. Vanguard Group Inc. lifted its holdings in Lexicon Pharmaceuticals by 7.0% in the first quarter. Vanguard Group Inc. now owns 6,401,225 shares of the biopharmaceutical company’s stock valued at $15,363,000 after acquiring an additional 420,854 shares during the period. Boulder Hill Capital Management LP acquired a new position in Lexicon Pharmaceuticals in the first quarter valued at approximately $615,000. Virtu Financial LLC acquired a new position in Lexicon Pharmaceuticals in the first quarter valued at approximately $105,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in Lexicon Pharmaceuticals in the second quarter valued at approximately $912,000. Institutional investors and hedge funds own 74.70% of the company’s stock.

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.