Lexicon Pharmaceuticals (NASDAQ:LXRX) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a research report released on Thursday morning. The firm issued a sell rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently issued reports on the company. Piper Sandler cut their price target on Lexicon Pharmaceuticals from $10.00 to $6.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Leerink Partnrs cut Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Leerink Partners reiterated a “market perform” rating and issued a $1.00 price target (down from $2.00) on shares of Lexicon Pharmaceuticals in a research note on Tuesday, March 4th. HC Wainwright reiterated a “buy” rating and issued a $4.00 price target on shares of Lexicon Pharmaceuticals in a research note on Monday, March 3rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.67.

Lexicon Pharmaceuticals Trading Down 3.5 %

Shares of NASDAQ:LXRX opened at $0.34 on Thursday. Lexicon Pharmaceuticals has a 12-month low of $0.28 and a 12-month high of $2.59. The stock has a market cap of $84.93 million, a PE ratio of -0.46 and a beta of 1.04. The business has a 50 day moving average of $0.65 and a 200-day moving average of $1.05. The company has a quick ratio of 7.43, a current ratio of 7.45 and a debt-to-equity ratio of 0.56.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its quarterly earnings data on Thursday, March 6th. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. Lexicon Pharmaceuticals had a negative return on equity of 107.38% and a negative net margin of 4,109.41%. The company had revenue of $26.55 million during the quarter, compared to analysts’ expectations of $6.48 million. As a group, equities research analysts forecast that Lexicon Pharmaceuticals will post -0.66 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its position in Lexicon Pharmaceuticals by 28.9% during the third quarter. FMR LLC now owns 49,867,042 shares of the biopharmaceutical company’s stock valued at $78,291,000 after purchasing an additional 11,179,919 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Lexicon Pharmaceuticals by 4.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,417,295 shares of the biopharmaceutical company’s stock valued at $2,225,000 after purchasing an additional 58,147 shares in the last quarter. XTX Topco Ltd acquired a new position in Lexicon Pharmaceuticals during the third quarter valued at approximately $126,000. Geode Capital Management LLC increased its holdings in shares of Lexicon Pharmaceuticals by 8.4% during the third quarter. Geode Capital Management LLC now owns 3,523,971 shares of the biopharmaceutical company’s stock worth $5,534,000 after buying an additional 273,436 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Lexicon Pharmaceuticals during the third quarter worth $189,000. 74.70% of the stock is currently 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.