HC Wainwright Reiterates Buy Rating for Lexicon Pharmaceuticals (NASDAQ:LXRX)

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

Other analysts also recently issued reports about the company. Needham & Company LLC reiterated a “hold” rating on shares of Lexicon Pharmaceuticals in a report on Wednesday, October 30th. Leerink Partners set a $6.00 target price on Lexicon Pharmaceuticals and gave the company an “outperform” rating in a report on Friday, October 18th. Finally, StockNews.com upgraded Lexicon Pharmaceuticals to a “sell” rating in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $6.00.

Lexicon Pharmaceuticals Price Performance

LXRX opened at $1.19 on Tuesday. Lexicon Pharmaceuticals has a 52-week low of $0.92 and a 52-week high of $3.73. The company has a 50 day moving average of $1.69 and a two-hundred day moving average of $1.76. The company has a market cap of $293.03 million, a P/E ratio of -1.53 and a beta of 1.24. The company has a quick ratio of 11.49, a current ratio of 11.51 and a debt-to-equity ratio of 0.41.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Compagnie Lombard Odier SCmA grew its stake in Lexicon Pharmaceuticals by 6.4% in the third quarter. Compagnie Lombard Odier SCmA now owns 100,000 shares of the biopharmaceutical company’s stock worth $157,000 after purchasing an additional 6,000 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Lexicon Pharmaceuticals by 116.1% during the 2nd quarter. Principal Financial Group Inc. now owns 22,759 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 12,225 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Lexicon Pharmaceuticals by 44.5% during the second quarter. Victory Capital Management Inc. now owns 45,341 shares of the biopharmaceutical company’s stock worth $76,000 after purchasing an additional 13,972 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Lexicon Pharmaceuticals by 40.5% in the second quarter. The Manufacturers Life Insurance Company now owns 49,957 shares of the biopharmaceutical company’s stock worth $84,000 after purchasing an additional 14,411 shares during the period. Finally, Pinnacle Associates Ltd. raised its holdings in shares of Lexicon Pharmaceuticals by 0.9% during the third quarter. Pinnacle Associates Ltd. now owns 1,730,821 shares of the biopharmaceutical company’s stock worth $2,648,000 after purchasing an additional 14,990 shares during the period. Institutional investors own 74.70% of the company’s stock.

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.