Lexicon Pharmaceuticals (NASDAQ:LXRX) Earns Sell Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a research note released on Wednesday. The firm issued a sell rating on the biopharmaceutical company’s stock.

Other research analysts have also issued research reports about the stock. Leerink Partners reissued a “market perform” rating and set a $1.00 price objective (down previously from $2.00) on shares of Lexicon Pharmaceuticals in a research note on Tuesday, March 4th. Piper Sandler reduced their price objective on shares of Lexicon Pharmaceuticals from $10.00 to $6.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. HC Wainwright reissued a “buy” rating and set a $4.00 price objective on shares of Lexicon Pharmaceuticals in a research note on Monday, March 3rd. Leerink Partnrs lowered shares of Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $3.67.

Lexicon Pharmaceuticals Stock Up 6.3 %

Shares of NASDAQ:LXRX opened at $0.38 on Wednesday. Lexicon Pharmaceuticals has a one year low of $0.28 and a one year high of $2.64. The company has a 50 day moving average of $0.70 and a 200-day moving average of $1.11. The company has a debt-to-equity ratio of 0.56, a current ratio of 7.45 and a quick ratio of 7.43. The stock has a market cap of $93.79 million, a price-to-earnings ratio of -0.51 and a beta of 1.04.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its quarterly earnings results on Thursday, March 6th. The biopharmaceutical company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.02. Lexicon Pharmaceuticals had a negative net margin of 4,109.41% and a negative return on equity of 107.38%. The company had revenue of $26.55 million during the quarter, compared to analysts’ expectations of $6.48 million. On average, sell-side analysts forecast that Lexicon Pharmaceuticals will post -0.66 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its stake in Lexicon Pharmaceuticals by 71.2% in the third quarter. BNP Paribas Financial Markets now owns 31,853 shares of the biopharmaceutical company’s stock valued at $50,000 after buying an additional 13,246 shares in the last quarter. Bayesian Capital Management LP acquired a new stake in shares of Lexicon Pharmaceuticals in the fourth quarter valued at approximately $31,000. RPO LLC acquired a new stake in shares of Lexicon Pharmaceuticals in the fourth quarter valued at approximately $33,000. Renaissance Technologies LLC acquired a new stake in shares of Lexicon Pharmaceuticals in the fourth quarter valued at approximately $38,000. Finally, Arizona State Retirement System raised its holdings in shares of Lexicon Pharmaceuticals by 34.4% in the fourth quarter. Arizona State Retirement System now owns 62,976 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 16,136 shares during the last quarter. Institutional investors own 74.70% of the company’s stock.

Lexicon Pharmaceuticals Company Profile

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.