Lexicon Pharmaceuticals (NASDAQ:LXRX) Earns Market Perform Rating from Leerink Partners

Lexicon Pharmaceuticals (NASDAQ:LXRX)‘s stock had its “market perform” rating reaffirmed by equities research analysts at Leerink Partners in a note issued to investors on Tuesday,Benzinga reports. They currently have a $1.00 price objective on the biopharmaceutical company’s stock. Leerink Partners’ price target indicates a potential upside of 207.88% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $4.00 target price on shares of Lexicon Pharmaceuticals in a research report on Monday. Needham & Company LLC reaffirmed a “hold” rating on shares of Lexicon Pharmaceuticals in a report on Monday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Lexicon Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $2.50.

Lexicon Pharmaceuticals Price Performance

Shares of NASDAQ:LXRX traded up $0.03 during midday trading on Tuesday, reaching $0.32. 23,720,864 shares of the company’s stock were exchanged, compared to its average volume of 3,924,525. The company has a debt-to-equity ratio of 0.56, a quick ratio of 7.43 and a current ratio of 7.45. The company’s 50 day simple moving average is $0.76 and its two-hundred day simple moving average is $1.17. The firm has a market capitalization of $79.98 million, a PE ratio of -0.43 and a beta of 1.04. Lexicon Pharmaceuticals has a 12 month low of $0.28 and a 12 month high of $2.83.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Lexicon Pharmaceuticals by 193.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 353,508 shares of the biopharmaceutical company’s stock valued at $261,000 after acquiring an additional 233,121 shares during the period. Tang Capital Management LLC grew its position in shares of Lexicon Pharmaceuticals by 750.3% during the 4th quarter. Tang Capital Management LLC now owns 850,268 shares of the biopharmaceutical company’s stock worth $628,000 after buying an additional 750,268 shares during the period. Point72 Asset Management L.P. raised its stake in shares of Lexicon Pharmaceuticals by 630.7% during the fourth quarter. Point72 Asset Management L.P. now owns 8,988,421 shares of the biopharmaceutical company’s stock worth $6,638,000 after buying an additional 7,758,371 shares during the last quarter. Deutsche Bank AG raised its stake in shares of Lexicon Pharmaceuticals by 378.0% during the fourth quarter. Deutsche Bank AG now owns 315,659 shares of the biopharmaceutical company’s stock worth $234,000 after buying an additional 249,616 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in Lexicon Pharmaceuticals by 27.4% in the fourth quarter. Bank of America Corp DE now owns 136,407 shares of the biopharmaceutical company’s stock valued at $101,000 after acquiring an additional 29,319 shares during the last quarter. 74.70% of the stock is currently 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.