Lexicon Pharmaceuticals (NASDAQ:LXRX) Raised to “Hold” at Wall Street Zen

by · The Markets Daily

Lexicon Pharmaceuticals (NASDAQ:LXRX – Get Free Report) was upgraded by stock analysts at Wall Street Zen from a “strong sell” rating to a “hold” rating in a report issued on Sunday, Wall Street Zen reports.

LXRX has been the subject of several other reports. Zacks Research cut Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 3rd. Cantor Fitzgerald started coverage on Lexicon Pharmaceuticals in a research note on Monday, September 28th. They set an “overweight” rating and a $8.00 price objective on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a research note on Wednesday, October 21st. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $5.80.

Get Our Latest Research Report on Lexicon Pharmaceuticals

Lexicon Pharmaceuticals Trading Up 2.2%

LXRX stock opened at $1.82 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’s 50-day simple moving average is $1.80 and its 200 day simple moving average is $1.89. Lexicon Pharmaceuticals has a 52 week low of $1.10 and a 52 week high of $2.68. The company has a market capitalization of $809.83 million, a PE ratio of -13.00 and a beta of 1.10.

Lexicon Pharmaceuticals (NASDAQ:LXRX – Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.03. Lexicon Pharmaceuticals had a negative net margin of 147.38% and a negative return on equity of 37.53%. The firm had revenue of $11.25 million during the quarter, compared to the consensus estimate of $4.14 million. As a group, sell-side analysts anticipate that Lexicon Pharmaceuticals will post -0.16 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Michael Exton acquired 30,064 shares of the business’s stock in a transaction that occurred on Friday, November 6th. The stock was acquired at an average price of $1.66 per share, with a total value of $49,906.24. Following the completion of the transaction, the chief executive officer directly owned 328,496 shares of the company’s stock, valued at $545,303.36. This trade represents a 10.07% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 14.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in LXRX. Squarepoint Ops LLC bought a new stake in shares of Lexicon Pharmaceuticals during the 2nd quarter worth approximately $28,000. CTC Alternative Strategies Ltd. acquired a new stake in shares of Lexicon Pharmaceuticals during the 1st quarter worth approximately $27,000. Pictet Asset Management Holding SA acquired a new stake in shares of Lexicon Pharmaceuticals during the 3rd quarter worth approximately $41,000. Bank of New York Mellon Corp increased its stake in Lexicon Pharmaceuticals by 43.6% in the first quarter. Bank of New York Mellon Corp now owns 27,459 shares of the biopharmaceutical company’s stock valued at $43,000 after acquiring an additional 8,335 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Lexicon Pharmaceuticals in the third quarter valued at approximately $66,000. 74.70% of the stock is currently owned by institutional investors and hedge funds.

Lexicon Pharmaceuticals Company Profile

(Get Free Report)

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.

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