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

by · The Markets Daily

Lexicon Pharmaceuticals (NASDAQ:LXRX – Get Free Report)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research note issued on Wednesday, Benzinga reports. They presently have a $10.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price target points to a potential upside of 443.48% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. Leerink Partners set a $6.00 target price on Lexicon Pharmaceuticals and gave the company an “outperform” rating in a research note on Friday, October 18th. StockNews.com upgraded Lexicon Pharmaceuticals to a “sell” rating in a research note on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Lexicon Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $8.00.

Get Our Latest Report on LXRX

Lexicon Pharmaceuticals Price Performance

Shares of LXRX stock opened at $1.84 on Wednesday. The firm has a market cap of $453.08 million, a P/E ratio of -2.22 and a beta of 1.28. Lexicon Pharmaceuticals has a fifty-two week low of $0.92 and a fifty-two week high of $3.73. The business’s 50 day moving average price is $1.71 and its 200-day moving average price is $1.77. The company has a debt-to-equity ratio of 0.41, a quick ratio of 11.49 and a current ratio of 11.51.

Lexicon Pharmaceuticals (NASDAQ:LXRX – Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. The firm had revenue of $1.65 million for the quarter, compared to analyst estimates of $2.74 million. Lexicon Pharmaceuticals had a negative return on equity of 105.38% and a negative net margin of 5,509.34%. During the same period last year, the company earned ($0.22) EPS. On average, equities research analysts anticipate that Lexicon Pharmaceuticals will post -0.69 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Compagnie Lombard Odier SCmA raised its stake in Lexicon Pharmaceuticals by 6.4% during the third quarter. Compagnie Lombard Odier SCmA now owns 100,000 shares of the biopharmaceutical company’s stock valued at $157,000 after buying an additional 6,000 shares during the last quarter. Principal Financial Group Inc. raised its stake in Lexicon Pharmaceuticals by 116.1% during the second quarter. Principal Financial Group Inc. now owns 22,759 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 12,225 shares during the last quarter. Victory Capital Management Inc. raised 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 valued at $76,000 after buying an additional 13,972 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Lexicon Pharmaceuticals by 40.5% during the second quarter. The Manufacturers Life Insurance Company now owns 49,957 shares of the biopharmaceutical company’s stock valued at $84,000 after buying an additional 14,411 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in Lexicon Pharmaceuticals by 13.3% during the second quarter. Rhumbline Advisers now owns 152,785 shares of the biopharmaceutical company’s stock valued at $257,000 after buying an additional 17,940 shares during the last quarter. Hedge funds and other institutional investors own 74.70% of the company’s stock.

About Lexicon Pharmaceuticals

(Get Free Report)

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.

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