Lexicon Pharmaceuticals (NASDAQ:LXRX) Given Buy Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a $6.00 target price on the biopharmaceutical company’s stock.

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

Lexicon Pharmaceuticals Stock Performance

Lexicon Pharmaceuticals stock opened at $1.08 on Wednesday. Lexicon Pharmaceuticals has a 52-week low of $1.01 and a 52-week high of $3.73. The company has a debt-to-equity ratio of 0.41, a current ratio of 11.51 and a quick ratio of 11.49. The stock has a fifty day moving average price of $1.64 and a two-hundred day moving average price of $1.74. The firm has a market capitalization of $265.94 million, a P/E ratio of -1.45 and a beta of 1.24.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its stake 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. increased its stake in 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 purchasing an additional 420,854 shares in the last quarter. Nantahala Capital Management LLC bought a new stake in shares of Lexicon Pharmaceuticals during the second quarter worth $3,871,000. Point72 Asset Management L.P. boosted 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 worth $6,924,000 after purchasing an additional 3,536,805 shares during the period. Finally, Virtu Financial LLC bought a new position in Lexicon Pharmaceuticals during the 1st quarter worth about $105,000. 74.70% of the stock is owned by institutional investors.

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.