Leerink Partners Reaffirms Market Perform Rating for Lexicon Pharmaceuticals (NASDAQ:LXRX)

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report)'s stock had its "market perform" rating reissued by equities researchers at Leerink Partners in a research report issued on Tuesday, MarketBeat.com reports. They presently have a $1.00 price objective on the biopharmaceutical company's stock, down from their prior price objective of $2.00. Leerink Partners' price target indicates a potential upside of 155.23% from the company's current price.

Several other research firms have also recently weighed in on LXRX. HC Wainwright restated a "buy" rating and set a $4.00 price target on shares of Lexicon Pharmaceuticals in a report on Monday, March 3rd. Needham & Company LLC restated a "hold" rating on shares of Lexicon Pharmaceuticals in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $3.67.

Lexicon Pharmaceuticals Stock Up 6.6 %

Shares of NASDAQ LXRX traded up $0.02 during mid-day trading on Tuesday, reaching $0.39. 13,534,445 shares of the company's stock traded hands, compared to its average volume of 4,037,434. The stock has a market cap of $96.48 million, a P/E ratio of -0.52 and a beta of 1.04. The business has a 50-day simple moving average of $0.73 and a 200 day simple moving average of $1.14. Lexicon Pharmaceuticals has a 1-year low of $0.28 and a 1-year high of $2.83. The company has a debt-to-equity ratio of 0.56, a current ratio of 7.45 and a quick ratio of 7.43.

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Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last issued its quarterly earnings data on Thursday, March 6th. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.11) by $0.02. The firm had revenue of $26.55 million during the quarter, compared to analysts' expectations of $6.48 million. Lexicon Pharmaceuticals had a negative net margin of 4,109.41% and a negative return on equity of 107.38%. On average, analysts expect that Lexicon Pharmaceuticals will post -0.66 EPS for the current fiscal year.

Institutional Trading of Lexicon Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised its position in Lexicon Pharmaceuticals by 28.9% in the third quarter. FMR LLC now owns 49,867,042 shares of the biopharmaceutical company's stock worth $78,291,000 after acquiring an additional 11,179,919 shares during the period. Charles Schwab Investment Management Inc. raised its position in Lexicon Pharmaceuticals by 4.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,417,295 shares of the biopharmaceutical company's stock worth $2,225,000 after acquiring an additional 58,147 shares during the period. XTX Topco Ltd bought a new stake in Lexicon Pharmaceuticals in the third quarter worth about $126,000. Geode Capital Management LLC raised its position in shares of Lexicon Pharmaceuticals by 8.4% in the third quarter. Geode Capital Management LLC now owns 3,523,971 shares of the biopharmaceutical company's stock valued at $5,534,000 after purchasing an additional 273,436 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Lexicon Pharmaceuticals in the third quarter valued at approximately $189,000. Institutional investors own 74.70% of the company's stock.

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.