Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) Stock Has Average Target Price of $5.70 According to Brokerages

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) has been assigned an average rating of “Hold” from the five brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $5.70.

A number of brokerages have issued reports on LXRX. Weiss Ratings reissued a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a report on Wednesday. Zacks Research lowered Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Monday, August 3rd. Wall Street Zen cut Lexicon Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, Cantor Fitzgerald initiated coverage on Lexicon Pharmaceuticals in a report on Monday, September 28th. They issued an “overweight” rating and a $8.00 price target on the stock.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Several institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC acquired a new stake in shares of Lexicon Pharmaceuticals in the 2nd quarter worth about $28,000. CTC Alternative Strategies Ltd. bought a new stake in Lexicon Pharmaceuticals in the 1st quarter valued at about $27,000. Bank of New York Mellon Corp lifted its position in Lexicon Pharmaceuticals by 43.6% in the 1st quarter. Bank of New York Mellon Corp now owns 27,459 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 8,335 shares during the last quarter. WINTON GROUP Ltd boosted its stake in Lexicon Pharmaceuticals by 69.4% during the 2nd quarter. WINTON GROUP Ltd now owns 43,200 shares of the biopharmaceutical company’s stock valued at $104,000 after purchasing an additional 17,700 shares during the period. Finally, AXQ Capital LP boosted its stake in Lexicon Pharmaceuticals by 126.9% during the 2nd quarter. AXQ Capital LP now owns 45,727 shares of the biopharmaceutical company’s stock valued at $110,000 after purchasing an additional 25,577 shares during the period. Institutional investors own 74.70% of the company’s stock.

Lexicon Pharmaceuticals Stock Down 4.5%

LXRX opened at $1.49 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 13.29 and a current ratio of 13.37. The company has a market cap of $662.99 million, a PE ratio of -9.93 and a beta of 1.07. The firm has a 50 day moving average price of $1.99 and a 200 day moving average price of $2.06. Lexicon Pharmaceuticals has a 1 year low of $1.10 and a 1 year high of $2.68.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The business had revenue of $0.69 million for the quarter, compared to analysts’ expectations of $3.99 million. Lexicon Pharmaceuticals had a negative return on equity of 37.53% and a negative net margin of 147.38%. Sell-side analysts expect that Lexicon Pharmaceuticals will post -0.17 earnings per share for the current year.

Lexicon Pharmaceuticals Company Profile

Lexicon Pharmaceuticals, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for serious and chronic diseases. The company uses its drug discovery platform to identify small-molecule treatments designed to target specific biological pathways, with an emphasis on metabolic, cardiovascular and neurological conditions.

Lexicon’s commercial products include INPEFA (sotagliflozin), an oral medicine approved in the United States to reduce the risk of cardiovascular death, hospitalization for heart failure and urgent heart-failure visits in certain adults with heart failure or type 2 diabetes and chronic kidney disease.